Bli medlem
Bli medlem

Du är här

2016-11-14

TOUAX : Revenue for Q3 2016

PRESS RELEASE
Paris, 14 November 2016
- 6 p.m.

YOUR OPERATIONAL LEASING SOLUTION

REVENUE FOR Q3 2016

----------------------------------------------------------------------------
| * Consolidated revenues increased by 5% thanks to the growth of sales of |
| equipment |
| * Confirmation of positive operating income for 2016 |
| * Positive free cash flow in 2016 |
----------------------------------------------------------------------------
REVENUE ANALYSIS

--------------------------------------------------------------------------------------------------------
| Revenue by type Q1 2016 Q2 2016 Q3 2016 TOTAL Q1 2015 Q2 2015 Q3 2015 TOTAL |
| |
| |
|(unaudited data, |
|€ thousands) |
| Leasing revenue (1) 53 380 53 987 55 086 162 453 55 420 55 916 56 771 168 108 |
| Sales of equipment 34 273 29 822 30 594 94 689 12 808 43 393 20 514 76 716 |
| Including sales to clients 24 357 26 120 24 792 75 268 12 708 21 499 20 509 54 716 |
| Including sales to investors 9 916 3 702 5 802 19 421 100 21 872 28 22 000 |
| Consolidated revenue 87 653 83 809 85 680 257 142 68 228 99 309 77 286 244 823 |
--------------------------------------------------------------------------------------------------------
(1) Leasing revenue includes ancillary services.

Total consolidated revenues at the end of September 2016 increased by 5% to
€257.1 million euros. At constant exchange rates, revenues increased by 5.5%
with low impact from exchange rates.

Total leasing revenues fell to €162.5 million despite an increase in the
Modular Buildings and Freight Railcars divisions. The Group's rental activity
confirms a recovery in Europe with increased utilisation rates in the Modular
Buildings business and a growth in the Freight Railcars business while
worldwide Shipping Containers and River Barges activity decreased in 2016.

Equipment sales increased by 23.4% to €94.7 million.

Sales to customers were up by 30.6%, driven by good performance in the 4
businesses. In particular, TOUAX is developing its sales business of used
containers and new modules, and is continuing to rationalize its fleet of
used modular buildings in some supplementary countries.

Sales to investors are also growing with more than 58,000 containers (20-foot
equivalent) sold by the end of September 2016 compared to around 12,000
containers at the end of September 2015. However, this increased volume is
not recorded under revenues of which only the sales margin is recorded in
commission under IFRS standards, in certain cases.

Analysis of the contribution of the 4 Group's divisions

---------------------------------------------------------------------------------------------------------
| Revenue by division Q1 2016 Q2 2016 Q3 2016 TOTAL Q1 2015 Q2 2015 Q3 2015 TOTAL |
| |
| |
|(unaudited data, |
|€ thousands) |
| Leasing revenue (1) 23 828 23 132 23 986 70 946 26 567 26 601 25 702 78 870 |
| Sales of equipment 19 429 13 725 16 970 50 125 5 614 30 826 9 073 45 513 |
| Including sales to clients 9 513 10 023 11 168 30 704 5 514 8 954 9 045 23 514 |
| Including sales to investors 9 916 3 702 5 802 19 421 100 21 872 28 22 000 |
| Shipping containers 43 257 36 857 40 956 121 071 32 181 57 427 34 775 124 383 |
| Leasing revenue (1) 17 451 18 996 18 581 55 027 17 544 17 583 18 606 53 733 |
| Sales of equipment 13 751 13 756 13 552 41 059 6 903 12 246 9 933 29 082 |
| Including sales to clients 13 751 13 756 13 552 41 059 6 903 12 246 |
| Modular buildings 31 202 32 752 32 132 96 086 24 447 29 829 28 539 82 815 |
| Leasing revenue (1) 3 090 2 768 3 281 9 139 3 846 3 661 4 272 11 779 |
| Sales of equipment 918 17 18 953 19 19 19 57 |
| Including sales to clients 918 17 18 953 19 19 |
| River barges 4 008 2 785 3 299 10 092 3 865 3 680 4 291 11 836 |
| Leasing revenue (1) 9 102 9 191 9 318 27 611 7 566 8 220 8 251 24 037 |
| Sales of equipment 174 2 323 55 2 552 272 279 1 511 2 062 |
| Including sales to clients 174 2 323 55 2 552 272 279 1 511 2 062 |
| Including sales to investors |
| Freight railcars 9 276 11 514 9 373 30 163 7 838 8 521 9 762 26 099 |
| Miscellaneous and unallocated (94) (110) (80) (270) (103) (148) (60) (311) |
| |
| Consolidated revenue 87 653 83 809 85 680 257 142 68 228 99 309 77 308 244 823 |
---------------------------------------------------------------------------------------------------------
(1) Leasing revenue includes ancillary services.

Shipping containers
: Revenues in the division fell by 2.7% to €121.1 million (-2.5% with a
constant dollar exchange rate) with a decline in leasing activity offset by
higher sales. The decrease in leasing activity is due to lower utilisation
rates during 2015. Since the beginning of 2016, the utilisation rate has
increased again to reach 91.4% on 30 July 2016. Despite higher equipment
syndications, more numerous in 2016, net sales revenue is falling due to the
accounting method that only takes into account the margin of sales when
buying/selling transactions are concurrent. Sales of used containers to
customers remain very strong with an increase of 31%.

Modular Buildings
: Revenues in the division increased by 16% to €96.1 million (17% at constant
currency exchange rates). Leasing revenues have increased by 2.4% (€55
million) in most countries where we operate with quite marked increases in
value in the main countries. There has been an increase in utilisation rates
and leasing prices. Sales of new and used equipment remain high, confirming
the recovery of the business, and increased by 41.2% to reach €41.1 million.

River Barges
: Revenues in the River Barges division stood at €10.1 million, down due to
lower activity on the Rhine. The barge leasing activity remains steady with
an average utilisation rate of almost 92%. TOUAX has completed the refocusing
of its barge leasing business by realizing the sale of its last pusher boat,
with the Group now operating no more pusher boats or self-propelled barges.

Freight Railcars
: Revenues in the Freight Railcars division increased by 15.5 % to €30.2
million. This increase is mainly explained by an increase in the fleet and
strong leasing activity at the end of September 2016 compared to September
2015, with a growth of the business. In October 2016, Touax also announced
the signing of a freight railcar portfolio syndication to SICAF-SIF TOUAX
Investment SCA, sales that will be visible in the Group's annual revenues and
which confirms the strategy to grow third-party asset management related to
transport activities.

OUTLOOK

The combined effect of the global trade growth of about 3%, the recent rise in
prices of raw materials and steel, and increases in the utilisation rate
since April 2016, should benefit to theShipping containers
business.

TheModular buildings
business continues its recovery with a strong performance in Germany and
Eastern Europe, the improved utilisation rates already observed in 2015 and
sales that are growing significantly.

Demand forRiver barges
varies depending on the country, with low demand in South America, but
increasing requirements in Europe.

TheFreight Railcars
leasing business in Europe continues to improve gradually enabling Touax to
strengthen and develop third-party asset management.

Over the full year, the Group continued to implement its strategy to increase
its operating cash flow with a stabilisation of its own assets, a growth in
its assets under management for third parties and its improved utilisation
rates, and is therefore predicting positive free cash for the year 2016.

TOUAX confirms an operating profit for the whole of the year 2016.

UPCOMING DATES

* 23 February 2017: 2016 revenue
* 29 March 2017: 2016 results
* 30 March 2017: Financial analyst presentation and conference call

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 €1.8 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
EnterNext PEA-PME.

For more information: www.touax.com
Contacts:

TOUAX
ACTIFIN
Fabrice&Raphaël WALEWSKI
Ghislaine GASPARETTO
Managing Partners
ggasparetto@actifin.fr
touax@touax.com

www.touax.com
Tel: +33 (0)1 56 88 11 11
Tel: +33 (0)1...

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.