DGAP-News: Revenue up again in 2018 - VTG Executive Board proposes increased dividend
DGAP-News: VTG Aktiengesellschaft / Key word(s): Preliminary Results
Revenue up again in 2018 - VTG Executive Board proposes increased dividend
- Group revenue up 5.7% to EUR 1,072.6 million
- EBITDA 7.9% higher excluding one-time effects
- Plans to raise dividend to EUR 0.95
- One-time effects weigh on earnings
- Railcar capacity utilization at a ten-year high - Nacco transaction contributes to positive result
- VTG announces that it will be delisted in Q2 2019
Hamburg, February 28, 2019. Positive development continues: VTG Aktiengesellschaft (WKN: VTG999) brought the 2018 financial year to a successful conclusion. Published today, the as yet unaudited figures report Group revenue of EUR 1,072.6 million, an increase of 5.7 percent year on year (2017: EUR 1,014.4 million). This significant gain is attributable above all to dynamic development in Railcar activities: Thanks to a further increase in demand, fleet capacity utilization in this division rose to 93.5 percent by year end - the highest level for ten years. Successful closure of the Nacco acquisition and the associated integration of the Nacco fleet, also completed in 2018, likewise had a positive impact on revenue. First-time consolidation in the fourth quarter of 2018 added an extra EUR 22.3 million to Group revenue. The operating result (EBITDA) for the Group was EUR 349.3 million, which was 1.7 percent higher than the prior year's figure of EUR 343.4 million. This result includes one-time charges of EUR 25.6 million, of which EUR 18.8 million were for the Nacco transaction. The remaining one-time expenses of EUR 6.8 million related to the voluntary public takeover bid by Warwick Holding (Morgan Stanley Infrastructure). Adjusted for these one-time effects, EBITDA would have increased year on year by 7.9 percent to EUR 374.9 million.
Railcar: Capacity utilization at a ten-year high - Revenue and EBITDA sharply up
Logistics divisions: Contribution to Group revenue unchanged year on year - Market developments weighing on EBITDA
Further increase in Group revenue and EBITDA expected in 2019 - Higher dividend announced
For the 2018 financial year, the Executive Board has announced that it will propose to the Annual General Meeting that the dividend once again be increased from EUR 0.90 to EUR 0.95 per share.
VTG AG announces that it will be delisted in the second quarter of 2019
VTG Aktiengesellschaft is one of Europe's leading railcar leasing and rail logistics companies, with a fleet consisting of more than 94,000 railcars. VTG offers a full-range service, providing tank cars, intermodal cars, standard freight cars and sliding wall cars. In addition to the leasing of railcars, the Group offers comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports.
With the combination of its three interlinked divisions Railcar, Rail Logistics and Tank Container Logistics, VTG offers its customers a high-performance platform for international transport of their freight. The Group has many years of experience and specific expertise, in particular in the transport of liquid and sensitive goods. Its customers include numerous well-known companies from almost every industrial sector, for example the chemical, petroleum, automotive, paper and agricultural industries.
In the financial year 2017, VTG generated revenue of EUR 1,014 million and operating profit (EBITDA) of EUR 343 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, North America, Russia and Asia. As at 31 December 2017, VTG had 1,500 employees worldwide. VTG AG is listed on the official Prime Standard market of the Frankfurt Stock Exchange and also on the SDAX (WKN: VTG999).
More information at www.vtg.com
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|