VTG group confirms outlook for the total year 2011

Hamburg-based wagon hire and rail logistics enterprise VTG registered increases throughout all business sectors in the first half of the year 2011:

Based on current economic forecasts and market conditions, the Hamburg wagon hire and rail logistics company VTG Aktiengesellschaft is confident that, in 2011, it will be able to push up performance significantly in all three divisions compared with the previous year. Dr. Heiko Fischer, CEO of VTG, expects a continued upward trend in utilization of fleet capacity over the second half of the year. As for the rail logistics and tank container logistics divisions he anticipates that they will continue on their path of growth.

Revenue for the first six months of 2011 was EUR 373.8 million, representing a year-on-year increase of 21.7 percent. Operating profit (EBITDA) rose by 11.8 percent, to EUR 83.9 million. “Despite the current fluctuations in the capital markets, we have succeeded in achieving the necessary conditions for pushing ahead on our path of growth and develop further projects”, explains Dr. Heiko Fischer, when presenting the interim report.

In wagon hire business the first six months saw stable growth and a continued high level of demand. Revenue in this division rose by 3.1 percent to EUR 147.1 million. In the rail logistics division there was an increase in demand for transport services, due in part to the positive trend in business in eastern and southeastern Europe. As of June 30, 2011, revenue in rail logistics stood at EUR 149.4 million.

This represents an increase of 55.5 percent on the same period of the previous year (EUR 96.1 million). The positive trend in tank container logistics in the first half of 2011 was primarily due to growth in demand from customers in the European chemical industry and positive trends in Russia, Turkey and China. Revenue in this division rose by 12.9 percent, to EUR 77.3 million.

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