TOUAX : First-quarter 2013 revenue: €59.7 million; Leasing revenue stable; Revenue of sales of equipment temporarily down
May 15 2013 - 12:01PM
PRESS
RELEASE
Paris, May 15, 2013 - 6 pm
TOUAX
YOUR OPERATIONAL LEASING SOLUTION
First-quarter2013 revenue: €59.7 million
Leasing
revenue stable
Revenue of
sales of equipment temporarily down
Revenue by
type
(Unaudited consolidated data, in thousands of
euros) |
Q1
2013 |
Q1 2012 |
variation |
Leasing
revenue (1) |
51,407 |
51,349 |
0.1 % |
Sales of equipment |
8,251 |
31,783 |
-74 % |
Consolidated revenue |
59,658 |
83,132 |
-28.2 % |
(1) Leasing revenue presented here includes
ancillary and river services.
First-quarter2013 consolidated revenue amounted to
€59.7 million compared with €83.1 million for Q1 2012, i.e. a fall
of €23.4 million (-28.2%). Excluding changes in the exchange rate
and consolidation perimeter, revenue fell by 32%.
Leasing revenue remained stable at €51.4 million
compared with Q1 2012 (-2.4% excluding changes in the exchange rate
and consolidation perimeter).
Sales revenue amounted to €8.3 million, down due
to the combined effect of the economic situation in Europe which
negatively impacted sales in the Modular Buildings business and the
postponement of syndications in the Shipping Containers business
from Q1 to Q2 2013.
Analysis of
the contribution of the Group's four divisions
Revenue by
division
(Unaudited consolidated data in thousands of
euros) |
Q1
2013 |
Q1 2012 |
variation |
Leasing revenue (1) |
21,786 |
20,222 |
7.7 % |
Sales of equipment |
2,851 |
22,466 |
-87.3 % |
Shipping containers |
24,637 |
42,688 |
-42.3 % |
Leasing revenue (1) |
17,094 |
17,844 |
-4.2 % |
Sales of equipment |
5,108 |
9,125 |
-44 % |
Modular buildings |
22,202 |
26,969 |
-17.7 % |
Leasing revenue (1) |
3,977 |
4,104 |
-3.1 % |
Sales of equipment |
59 |
2 |
|
River barges |
4,036 |
4,106 |
-1.7 % |
Leasing revenue (1) |
8,542 |
9,158 |
-6.7 % |
Sales of equipment and misc. |
241 |
210 |
14.8 % |
Freight railcars |
8,783 |
9,368 |
-6.2 % |
|
|
|
|
Consolidated revenue |
59,658 |
83,132 |
-28.2 % |
(1) Leasing revenue presented here includes
ancillary and river services.
Shipping
Containers: There was a 7.7% increase in leasing revenues
to €21.8 million (+2.3% in constant dollars). This rise was due to
the commercial successes of the division and a 9% growth in the
managed fleet. The market for sales of used containers remains
dynamic, but the lack of syndications with investors in
Q1 2013 triggers a fall of sales. Given the demand, the volume of
syndications is expected to rise in 2013 compared with 2012. The
utilization rate remains high at 94%.
Since market conditions are favourable on the
whole, the Group forecasts growth in business in 2013.
Modular Buildings:
The revenue of the Modular Buildings Division fell by 18% to €22.2
million compared with Q1 2012, in particular due to the decline in
sales, especially in France. The revenue of the leasing business
was down at €17.1 million due to the drop in utilization rates. The
difficult economic situation in Europe (apart from Germany) has a
negative impact on the leasing and sales businesses. On the other
hand, the outlook for sales is promising in Africa where TOUAX
continues to develop.
River Barges: The
revenue of the River Barges Division was almost stable at €4
million compared with
€4.1 million in Q1 2012. Sluggish business in Europe is offset by
bringing into service new barges leased under long-term contracts
in South America. The Group confirms the favourable outlook for
business in 2013, in particular thanks to the development of its
activities in this zone.
Railcars: The
revenue of the Freight Railcars Division was down 6% at €8.8
million. TOUAX sold 10% of its fleet to a customer who held a
purchase option, resulting in a fall in leasing revenue. However,
the Group continues to provide technical management of this fleet.
Market conditions are expected to remain difficult in Europe in
2013, although TOUAX is starting to notice a revival of interest in
certain types of equipment due to the recurrent lack of investment
in the sector since 2009. The Group also intends to develop its
activities in the United States and Asia.
Outlook for
2013
The Group does not anticipate any improvement in
the short term in its European businesses, leading to weak results
for the first half of 2013, as for the second half of 2012. On the
other hand, the Group forecasts an increase in revenues in 2013 and
2014 in view of the growth in its international activities and its
development in emerging countries.
Next
events
- 11 June 2013
Annual shareholders meeting (Hôtel Pullman La Défense)
- 29 August
2013
Revenues and net income for the half-year 2013
The
TOUAX Group provides its operational leasing services to a global
customer base, both for its own account and on behalf of investors.
TOUAX is the European leader in shipping containers and river
barges, and no. 2 in modular buildings and freight railcars
(intermodal railcars). TOUAX is well positioned to take advantage
of the rapid growth in corporate outsourcing of nonstrategic assets
and offers efficient and flexible leasing solutions to more than
5,000 customers daily.
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.
Contacts:
TOUAX
Fabrice & Raphaël Walewski
Managing partners
touax@touax.com
Tel: +33
(0)1 46 96 18 00
ACTIFIN
Ghislaine Gasparetto
ggasparetto@actifin.fr
Tel: +33
(0)1 55 88 11 11
Touax - H1 revenue 2013
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Source: TOUAX via Thomson Reuters ONE
HUG#1702273
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