TOUAX: Ricavi primo semestre 2008

TOUAX: Ricavi consolidati del primo semestre 2008 +12% a E 146 milioni (+14% a perimetro e cambio dollaro costanti). Il Gruppo TOUAX, società leader in Europa nel settore dei container marittimi e chiatte fluviali e una delle principali aziende attive nel segmento delle costruzioni modulari e treni merci, è ben posizionato per trarre vantaggio della crescita rapida nell'outsourcing e leasing di asset non strategici da parte delle aziende e fornire alla propria clientela mobilità,...

 

TOUAX: Ricavi consolidati del primo semestre 2008 +12% a E 146 milioni (+14% a perimetro e cambio dollaro costanti).

 

Il Gruppo TOUAX, società leader in Europa nel settore dei container marittimi e chiatte fluviali e una delle principali aziende attive nel segmento delle costruzioni modulari e treni merci, è ben posizionato per trarre vantaggio della crescita rapida nell'outsourcing e leasing di asset non strategici da parte delle aziende e fornire alla propria clientela mobilità, flessibilità e un livello elevato di disponibilità.

 

An analysis of the Group's consolidated revenues from the first half confirms this trend: TOUAX posted consolidated revenue growth of +12% to E146 million, 12% up on the first half of 2007 (14% at constant dollars and on a like-for-like basis). Leasing revenues rose 18% and sales revenues 2%.

 

Revenues by type			Total			Total
(Unaudited consolidated figures, in E thousands)	Q1 2008	Q2 2008	30/06/2008	Q1 2007	Q2 2007	30/06/2007	Change
Leasing revenues	45,115	47,869	92,984	38,144	40,680	78,824	18%
Sales of equipment and sundry items	15,324	37,708	53,032	6,026	46,069	52,095	2%
Consolidated revenues	60,439	85,577	146,016	44,170	86,749	130,919	12%

Revenues by business segment			Total			Total
(Unaudited consolidated figures, in E thousands)	Q1 2008	Q2 2008	30/06/2008	Q1 2007	Q2 2007	30/06/2007	Change
Leasing revenues	18,505	18,989	37,494	17,375	18,177	35,552	5%
Sales of equipment and sundry items	10,089	19,383	29,472	12	32,745	32,757	-10%
Shipping containers	28,594	38,372	66,966	17,387	50,922	68,309	-2%
Leasing revenues	14,010	15,774	29,784	11,055	12,046	23,101	29%
Sales of equipment and sundry items	4,920	6,833	11,753	1,593	3,891	5,484	114%
Modular buildings	18,930	22,607	41,537	12,648	15,937	28,585	45%
Leasing revenues	5,222	5,549	10,771	5,269	5,341	10,610	2%
Sales of equipment and sundry items		33	33	46		46	-28%
River barges	5,222	5,582	10,804	5,315	5,341	10,656	1%
Leasing revenues	7,378	7,557	14,935	4,445	5,115	9,560	56%
Sales of equipment and sundry items	315	11,459	11,774	4,375	9,434	13,809	-15%
Railcars, sundry items and intersegment eliminations	7,693	19,016	26,709	8,820	14,549	23,369	14%
Consolidated revenues	60,439	85,577	146,016	44,170	86,749	130,919	12%

 

Strong growth across all Group segments...

 

Market growth remains strong. The growth in inter-Asia and Asia-Europe flows (+10.4% over the first 6 months of 2008 - source FEFC) positively offset the slowdown in the US economy and the fall in imports into North America. The high visibility of the contracts (83% of contracts are long-term, namely 3 to 5 years), continued trade globalisation (forecast growth in volume of containerised traffic of +9% in 2008 - source Clarkson Research Studies June 2008), and the potential offered by emerging markets, point to continued good growth at the Shipping Containers division. The Containers division grew leasing revenues by +5% over the first half of 2008 compared to the first half of 2007, despite the decline in the dollar.

 

The new positioning of the Modular Buildings division as an assembler and in profitable regions is contributing significantly to the growth of the business. The +45% rise in revenues compared to Q2 2007 reflects this improvement. The assembly business improves the division's competitiveness and makes it possible to diversify into the sales market. Sales revenues rose 114% compared to the first half of 2007.

 

TOUAX was able to anticipate the requirements of industrial operators and large logistics groups by undertaking the construction of new barges. The division is progressively taking delivery of these new barges, in particular in South America: the fleet is comprised of 170 barges, pushboats and self-propelled vessels compared to 155 as of 31 December 2007. Revenues at the River Barges division are nevertheless stable, given that one part of the product portfolio - finance leasing - was recognised as finance income.

 

The Railcars division continues to benefit from rail freight deregulation and trade liberalisation in Europe. Numerous contracts have been signed with the leading freight operators and users in Europe enabling TOUAX to cement its growth strategy. Its fleet was up 33.8% as of 30 June 2008 (compared to 30 June 2007) with a fleet of 6,087 railcars. This economic background contributed to the very sharp +56% improvement in leasing revenues. The rail business is an area that offers promising growth potential.

 

The sharp rise in oil prices has created turmoil in the transportation sector enabling alternative transportation (rail, sea and river) to progressively win market share.

 

Growth targets confirmed and maintained

 

The target of increasing consolidated net income by at least 30% compared to 2007, namely in excess of E15.2 million, is confirmed and maintained.

 

TOUAX will announce its earnings for the first half of 2008 on 29 August. The Group's management will detail the 2008 earnings targets and provide their first estimate for 2009 at the SFAF meeting on 5 September 2008. Continuing on from 2008, the outlook for 2009 looks good.

 

The TOUAX Group provides operational leasing of shipping containers, modular buildings, river barges and freight railcars for a global customer base, both for its own account and on behalf of investors.

 

TOUAX is listed in Paris on NYSE EURONEXT - Euronext Paris Compartment B (ISIN code FR0000033003).

Your Press Relations Contact
Sylvie Jovillard - Sylvie Jovillard Conseil
[email protected]
+33 6 20 50 19 89

Contacts:
TOUAX Fabrice & Raphaël WALEWSKI
Managers
[email protected]
www.touax.com
Tel: +33 (0)1 46 96 18 00

ACTIFIN
Jean-Yves BARBARA
[email protected]
www.actifin.fr
Tel: +33 (0)1 56 88 11 11

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