VTG continued on path of controlled growth in 2011

Continued international expansion pays for the VTG AG wagon hire and rail logistics company

The wagon hire and rail logistics company VTG Aktiengesellschaft (Hamburg) presented yesterday its preliminary, unaudited figures for 2011. According to these figures, the group’s revenue rose 19.2 per cent from the previous year, to EUR 750 million. Operating profit (EBITDA) increased 9.3 per cent compared with 2010, reaching a level of EUR 168.7 million. As of 31 December 2011 VTG had 1,170 employees worldwide, 171 more than in 2010.

“We used the year 2011 to actively push forward our international expansion and once again strengthen the company”, states Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft. “The strategic acquisitions in Russia and North America, the two largest rail transport markets in the world, as well as a large order book for the construction of new wagons for the European market were made possible by the group’s new financing structure. They serve as proof that we are on a continual path of growth and mean we are confidently looking towards 2012”.

Wagon hire business showed a positive development in all market segments in the 2011 financial year. Capacity utilisation rose continually throughout the year, reaching its annual peak on December 31, 2011 (91.5 percent). This was accompanied by a rise in revenue of 7.2 per cent, to EUR 303.9 million. Additionally, the division significantly strengthened its position with various measures. These included the acquisition of the 300 units strong wagon fleet of the Italian competitor Sogerent, the takeover of the Railcraft group of companies in Russia – bringing in another 870 wagons – and the doubling of the fleet in North America to more than 4,000 wagons due to the takeover of the activities of SC Rail Leasing America.

In Rail Logistics, revenue increased by 46.2 per cent in the 2011financial year, reaching EUR 294.3 million. The acquisition of the rail logistics company TMF (specialising in the agricultural industry) in 2010, and the addition of the Polish subsidiary of the Transpetrol Group to the group of consolidated companies at the beginning of 2011 also had positive effects on the business. Moreover, new customers from all over Europe, a strong demand for transport services in Central and Eastern Europe, as well as numerous new activities from the Netherlands and Belgium towards Germany, Austria, and Poland resulted in a further rise in revenue. Rail Logistics expanded its product portfolio to three product segments: liquids, agricultural goods and industrial goods and will be expanding sales and operations in these segments. This also includes the establishment of new locations.

Tank Container Logistics was able to push ahead on its path of growth on the worldwide markets in 2011. Despite the decrease in transportation volumes in several regions in 2011, revenue increased by 5.1 percent to EUR 151.8 million. While business within Europe and America developed well, transports within Asia and Asian Exports decreased slightly.

Despite current uncertainties, the Executive Board of VTG expects the global economic situation to remain in total stable in 2012. Based on this estimation and assuming that the current sovereign debt crisis does not worsen, the Executive Board of VTG expects revenue for the group of between EUR 760 and 800 million in the financial year 2012 and EBITDA of between EUR 170 and 178 million.

Quelle: LogEastics
Portal: www.logistik-express.com