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2014-05-13

TOUAX : First-quarter 2014 revenue: €72.8 million (up 22%)

PRESS RELEASE

Paris, May 13, 2014 - 6 pm

TOUAX

YOUR OPERATIONAL LEASING SOLUTION

First-quarter 2014 revenue: €72.8 million (up 22%)

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|Revenue by type Q1 2014 Q1 2013 variation |
| |
| |
| |
|(Unaudited consolidated data, € thousands) |
|Leasing revenue (1) 48,772 51,407 -5.1 % |
|Sales of equipment 23,984 8,251 190.7 % |
|Consolidated revenue 72,756 59,658 22 % |
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(1) Leasing revenue presented here includes ancillary services.

The consolidated revenue for the first quarter of 2014 amounted to €72.8
million compared with €59.7 million in the first quarter of 2013, i.e. an
increase of €13.1 million (+22%). Excluding changes in the exchange rate and
consolidation perimeter, revenue increased by 24.5%.

Leasing revenue amounted to €48.8 million, down 5.1% (-3.4% excluding changes
in the exchange rate and consolidation perimeter) due to the fall in the
utilization rate for Modular Buildings and an unfavorable euro/dollar
currency effect for the Shipping Containers business.

Sales revenue amounted to €24 million compared with €8.3 million in the first
quarter of 2013. This sharp rise is due to the signing of syndication
agreements in the Shipping Containers business (sale to investors, TOUAX
retains management) and the increase in sales of used assets by the Modular
Buildings division.

Analysis of the contribution of the Group's four divisions

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|Revenue by division Q1 2014 Q1 2013 variation |
| |
| |
| |
|(Unaudited consolidated data, € thousands) |
|Leasing revenue (1) 20,949 21,786 -3.8 % |
|Sales of equipment 16,520 2,851 479.4 % |
|Shipping containers 37,469 24,637 52.1 % |
|Leasing revenue (1) 15,707 17,094 -8.1 % |
|Sales of equipment 7,220 5,108 41.3 % |
|Modular buildings 22,927 22,202 3.3 % |
|Leasing revenue (1) 3,879 3,977 -2.5 % |
|Sales of equipment 6 59 -89.8 % |
|River barges 3,885 4,036 -3.7 % |
|Leasing revenue (1) 8,261 8,542 -3.3 % |
|Sales of equipment and misc. 238 241 2.1 % |
|Freight railcars 8,499 8,775 -3.1 % |
|Miscellaneous and unallocated -24 8 |
| |
|Consolidated revenue 72,756 59,658 22 % |
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(1) Leasing revenue presented here includes ancillary services.

Shipping Containers
:
The revenue of the division amounted to €37.5 million compared with €24.6
million in the first quarter of 2013, up 52.1% due to the signing of
syndication agreements (+57.7% in constant dollars). There was a slight
decline in leasing revenues at constant dollars of 0.3% to €20.9 million
(-3.8% due to the unfavorable currency effect). The Group notes that leasing
prices still face strong competition. The utilization rate is down compared
to the same period in 2013 but remains above 90%.

Modular Buildings
:
The revenue of the Modular Buildings division increased by 3.3% to €22.9
million compared to the first quarter of 2013. The fall in leasing revenue is
offset by higher sales. The revenue of the leasing business was down at €15.7
million due to the decline in utilization rates. On the other hand, the Group
increased its sales of used assets in particular in France, resulting in an
increase in sales of 41.3% compared with the first quarter of 2013.

River Barges
:
The revenue of the River Barges division amounted to €3.9 million compared
with €4 million in the first quarter of 2013. Sales of barges at the end of
2013 led to a decline in revenues, but this was offset by relocation of
barges, in particular in Europe, resulting in a utilization rate of over 90%
at the end of March 2014.

Freight Railcars
:
The revenue of the Freight Railcars division declined slightly at €8.5 million
(-3.1%) compared with €8.8 million in the first quarter of 2013. Both leasing
business and utilization rates remained stable.

OUTLOOK FOR 2014

To continue to adapt to the weak growth in Europe, the Group is implementing a
strategy to increase its cash flow from operations by selling non-strategic
assets and assets that are not leased, exploiting opportunities to improve
utilization rates and optimizing costs.

The Modular Buildings leasing business will continue to have a negative impact
in 2014 but the Group will take advantage of the global economic recovery
thanks to its third-party asset management business and its international
presence.

NEXT EVENTS

* 11 June 2014 Annual shareholders meeting (Hôtel Pullman La Défense)

* 28 August 2014 Revenues and net income for the half-year 2014

TOUAX Group leases out tangible assets (shipping-containers, modular
buildings, freight railcars and river barges) on a daily basis to more than
5,000 customers throughout the world, for its own account and on behalf of
third party investors. With more than € 1.6 billion under management, TOUAX
is one of the European leaders in the operational leasing of this type of
equipment.

TOUAX is listed in Paris on NYSE EURONEXT - Euronext Paris Compartment C (Code
ISIN FR0000033003) and on the CAC® Small and CAC® Mid&Small indexes and in
SRD Long-only.

For more information:www.touax.com
Contacts:

TOUAX

Fabrice&Raphaël Walewski

Managing partners

touax@touax.com

Tel: +33 (0)1 46 96 18 00

ACTIFIN

Emma BARFETY

ebarfety@actifin.fr

Tel: +33 (0)1 55 88 11 11

Touax - H1 revenue 2014
http://hugin.info/143600/R/1785048/611883.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TOUAX via Globenewswire

HUG#1785048

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