DGAP-News: VTG Aktiengesellschaft: VTG enters 2011 with confidence and expects positive development
(firmenpresse) - DGAP-News: VTG Aktiengesellschaft / Key word(s): Preliminary
Results/Forecast
VTG Aktiengesellschaft: VTG enters 2011 with confidence and expects
positive development
23.02.2011 / 07:30
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- Revenue and EBITDA for 2010 much improved on previous year
- Capacity utilization in Wagon Hire rises to 89.1 percent
- Strong growth in logistics divisions
- Strategic acquisitions enable growth in new market segments
- Forecast for 2011: expected increase in revenue and EBITDA
- Proposed dividend increase to EUR 0.33
Hamburg, February 23, 2011. VTG Aktiengesellschaft (WKN: VTG999) today
presented its preliminary, unaudited figures for 2010. According to these
figures, group revenue rose by 8.2 percent from the previous year, to EUR
629.4 million. Operating profit (EBITDA) increased from the previous year
by 3.4 percent, rising to EUR 154.4 million, achieving the higher end of
management's previous forecast.
'2010 was a successful year for VTG, characterized by growth,
internationalization and entry into new markets and market segments',
comments Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft. 'We have again
continued to expand our fleet through acquisitions, and capacity
utilization of the wagons rose significantly', adds Fischer. The VTG Group
successfully made use of the economic environment in 2010 not only for
getting back on its path of growth but also for implementing innovative
transport concepts and pressing ahead with its orientation towards more
efficient processes.
Clear upward trend in all operational divisions
The level of capacity utilization provides clear evidence of the upswing in
Wagon Hire. It was at its lowest as of March 31, at 87 percent, rising to
89.1 percent as of December 31, 2010. Along with increased utilization,
important customer contracts were extended. The division strengthened
itself with the purchase of 700 wagons from the Rexwal Group and 1,100
grain hopper wagons. The total revenue reported for Wagon Hire was EUR
283.6 million, 1.9 percent below the 2009 figure. The slight drop in
revenue is largely due to the business activity of the Graaff wagon
manufacturing plant. After a major external contract in 2009, Graaff went
on in 2010 to produce a much larger number of wagons for VTG. Only the
Graaff revenue from contracts from outside the Group is entered in our
annual financial statements.
In Rail Logistics, intensive marketing and sales activity led to new
customers. The purchase of the TMF Group enabled VTG to enter the market
for transports of agricultural products as well as creating new potential
for synergies with the Wagon Hire Division. VTG's international positioning
benefits the division, 70 percent of whose transports are now cross-border.
Revenue rose compared to the previous year by 12.2 percent, to EUR 201.4
million.
In 2010, Tank Container Logistics benefited from a high demand for
transport services in all regions. It saw significant growth in its
transport services business, primarily between Asia, Europe and North
America as well as transports to Turkey and Russia. This resulted in an
increase in revenue of 27.7 percent to EUR 144.5 million. However, the
significant rise in demand also led to bottlenecks in transport capacities.
As of December 31, 2010, VTG had 999 employees worldwide, an increase of 36
from 2009. The increased number of staff is largely due to the takeover of
the French rail logistics company TMF and the setting up of rail logistics
branch offices in the Czech Republic and Serbia.
Further growth, greater capacity utilization, and benefits from
acquisitions expected in 2011
With economic experts expecting moderate growth in the global economy in
2011, the VTG Group also anticipates an upward business trend in all three
operational divisions. The Executive Board thus expects revenue of between
EUR 720 and 760 million and EBITDA of between EUR 165 and 170 million. It
is expected that both the acquisitions made in 2010 and a further increase
in capacity utilization in Wagon Hire will contribute to this rise in
revenue and EBITDA. The logistics divisions are also expected to continue
on their path of growth.
The Executive Board intends to propose to the 2011 Annual General Meeting
the payment of a dividend of EUR 0.33 for the financial year 2010. This is
an increase of 10 percent and is in keeping with the VTG AG policy of
reliable, continued payment of dividends.
About VTG:
VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail
logistics companies. The company has the largest private wagon fleet in
Europe. Globally, the fleet consists of some 50,000 wagons, with a focus on
tank cars and state-of-the-art high capacity freight cars and flat cars. In
addition to the hiring of wagons, the Group offers global tank container
transports and comprehensive multi-modal logistics services, mainly around
rail transport.
With the combination of its three interlinked divisions Wagon Hire, 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 2009, VTG generated revenue of EUR 581.5 million and
operating profit (EBITDA) of EUR 149.4 million. Via its subsidiaries and
affiliates the company, which has its head office in Hamburg, is mainly
present in Europe, Asia and North America. As at 31 December 2009, VTG had
963 employees worldwide in consolidated companies. Since June 2007, VTG AG
has been listed on the official Prime Standard market of the Frankfurt
Stock Exchange and also on the SDAX (WKN: VTG999).
Media contact:
Monika Gabler
Head of Corporate Communications
Telephone: +49 (0) 40 23 54-1341
Fax: +49 (0) 40 23 54-1340
Email: monika.gabler(at)vtg.com
Investor Relations contact:
Felix Zander
Head of Investor Relations
Telephone: +49 (0) 40 23 54-1351
Fax: +49 (0) 40 23 54-1350
Email: felix.zander(at)vtg.com
Further information at www.vtg.com
End of Corporate News
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Language: English
Company: VTG Aktiengesellschaft
Nagelsweg 34
20097 Hamburg
Deutschland
Phone: 040 2354 0
Fax: 040 2354 1199
E-mail: info(at)vtg.de
Internet: www.vtg.de
ISIN: DE000VTG9999WKN: VTG999
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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113128 23.02.2011
Datum: 23.02.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 33272
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