DGAP-News: VTG continues its upward trend DGAP-News: VTG

DGAP-News: VTG Aktiengesellschaft / Key word(s): 9-month figures VTG continues its upward trend 19.11.2015 / 07:32 --------------------------------------------------------------------- VTG continues its upward trend - Revenue increases by 25.1 percent to EUR 764.1 million - EBITDA rises by 82.5 percent to EUR 255.5 million - Railcar Division maintains positive earnings development - Continuous upward trend in the logistics divisions - 2015 forecast reaffirmed Hamburg, November 19, 2015. VTG Aktiengesellschaft (WKN: VTG999), one of Europe's leading wagon hire and rail logistics companies, continued to follow its upward trend in the third quarter of 2015. Group revenue increased by 25.1 percent to EUR 764.1 million in comparison to the previous year (EUR 610.6 million). Operating profit (EBITDA) rose by 82.5 percent to EUR 255.5 million (previous year: EUR 140.0 million). The 2015 forecast remains unchanged. "The very positive third quarter result serves as ongoing confirmation that we are on the right path. We are delighted that the integration of AAE in the Railcar Division is proceeding according to schedule and are encouraged by the clear upward tendency in the logistics divisions", said Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft, and added: "It is now time to embark on the next stage of VTG's development." In line with the EBITDA, earnings before interest and taxes (EBIT) rose by 82.6 percent in the first nine months of 2015 to EUR 111.2 million in comparison to the previous year (previous year: EUR 60.9 million). The earnings before taxes (EBT) increased to EUR 41.9 million (previous year: EUR 21.5 million) for the same period. At EUR 26.8 million, the Group's consolidated profit was 98.0 percent above the EUR 13.5 million figure achieved in the same period of the previous year. Earnings per share rose from EUR 0.65 to EUR 0.69. Railcar Division: Integration proceeding as anticipated, utilization rate on a sound level At EUR 403.0 million, revenue for the Railcar Division increased by 54.8 percent in the first nine months of 2015 in comparison to the previous year (EUR 260.4 million). The EBITDA improved by 80.8 percent in relation to the same period to EUR 253.8 million (previous year: EUR 140.4 million). The EBITDA margin related to revenue was 63.0 percent, following on from 53.9 percent in the previous year. These significant increases are essentially attributable to the acquisition of AAE as well as the positive effects generated from investments in the fleet. The utilization rate of the fleet as a whole was one percentage point below the level of the previous year at 89.6 percent (2014: 90.6 percent). This decline is due to the slightly weaker utilization of intermodal wagons. The integration of AAE continues to run according to schedule. Integration costs amounting to around EUR 4.0 million were incurred in the first nine months. Logistics divisions continue to develop positively With a revenue of EUR 236.5 million in the first nine months of 2015, the Rail Logistics Division has more or less stayed at the same level as last year (EUR 237.5 million). Driven by the restructuring measures implemented in the division, the EBITDA rose by EUR 1.7 million in the same period to EUR 2.3 million, which represented an over proportionate increase (previous year: EUR 0.6 million). The EBITDA margin related to gross profit was 11.2 percent (previous year: 2.8 percent). This shows that profit margins since the beginning of the year are continuing to increase. Increasing overseas transport and a stronger US dollar have led to a 10.5 percent increase in revenue, to EUR 124.6 million, in the Tank Container Logistics Division in the first nine months of 2015 (previous year: EUR 112.7 million). Operating profit (EBITDA) improved by a total of 11.3 percent, to EUR 10.1 million (previous year: EUR 9.1 million). As in 2014, this includes one-off gains which have had a positive influence on revenue. The EBITDA margins related to gross profit dropped to 46.8 percent due to increased transport costs (previous year: 47,8 percent). Positive business development expected for 2015 The VTG AG Executive Board confirmed the forecast for the 2015 financial year, which was put forward in March. It expects to achieve Group revenue of between EUR 1 and 1.1 billion and an EBITDA of between EUR 325 and 350 million. In September, VTG announced new medium-term growth and profitability goals for the coming years, leading up to VTG 4.0. Alongside further investments in wagon fleet development, with the acquisition of AAE, synergies are to be achieved and processes and structures within the Railcar Division are to be simplified. In addition, VTG expects that the upcoming refinancing will considerably reduce the funding costs in the coming year. On the basis of the measures initiated, the Executive Board has set the objective of increasing the earnings per share (EPS) to EUR 2.50 until 2018, which is almost triple their 2014 value (EUR 0.93). Key Figures for the VTG Group <pre> 01.01.-30.09. 01.01.-30.09. Change Financial year 2015 2014 in % Revenue in EUR million 764.1 610.6 25.1 EBITDA in EUR million 255.5 140.0 82.5 EBIT in EUR million 111.2 60.9 82.6 EBT in EUR million 41.9 21.5 94.9 Group profit in EUR million 26.8 13.5 98.0 Depreciation and amortization in EUR million 144.2 79.1 82.4 Capital expenditure in EUR million 142.8 177.6 -19.6 Operating cash flow in EUR million 209.5 129.8 61.4 Earnings per share in EUR 0.69 0.65 6.2 Railcar Division Revenue in EUR million 403.0 260.4 54.8 EBITDA in EUR million 253.8 140.4 80.8 EBITDA margin in % 63.0 53.9 Rail Logistics Division Revenue in EUR million 236.5 237.5 -0.4 EBITDA in EUR million 2.3 0.6 279.9 EBITDA margin in % 11.2 2.8 Tank Container Logistics Division Revenue in EUR million 124.6 112.7 10.5 EBITDA in EUR million 10.1 9.1 11.3 EBITDA margin in % 46.8 47.8 Change 30.09.2015 30.09.2014 in % Number of employees 1,444 1,312 10.1 - in Germany 936 904 3.5 - abroad 508 408 24.5 Change 30.09.2015 31.12.2014 in % Balance sheet total in EUR million 3,068.7 1,673.4 83.4 Non-current assets in EUR million 2,728.6 1,418.2 92.4 Current assets in EUR million 340.1 255.2 33.3 Shareholders equity in EUR million 754.7 340.5 121.7 Liabilities in EUR million 2,314.0 1,332.9 73.6 Equity ratio in % 24.6 20.3 </pre> About VTG: VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail logistics companies, with a fleet consisting of more than 80,000 railcars. VTG offers a full-range service, providing tank cars, intermodal wagons, standard freight wagons and sliding wall wagons. In addition to the hiring of wagons, the Group offers comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports. With the combination of its three interlinked divisions Railcar, Rail Logistics and Tank Container Logistics, VTG offers its customers a high-performance platform for international transport of their freight. The Group has many years of experience and specific expertise, in particular in the transport of liquid and sensitive goods. Its customers include numerous well-known companies from almost every industrial sector, for example the chemical, petroleum, automotive, paper and agricultural industries. In the financial year 2014, VTG generated revenue of EUR 818.3 million and operating profit (EBITDA) of EUR 191.0 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, Asia, Russia and North America. As at 31 December 2014, VTG had 1,312 employees worldwide in consolidated companies. Since June 2007, VTG AG has been listed on the official Prime Standard market of the Frankfurt Stock Exchange and also on the SDAX (WKN: VTG999). Press contact: Monika Gabler Head of Corporate Communications Telephone: +49 (0) 40 23 54-1341 Fax: +49 (0) 40 23 54-1340 Email: monika.gabler@vtg.com Investor Relations contact: Christoph Marx Head of Investor Relations Telephone: +49 (0) 40 23 54-1351 Fax: +49 (0) 40 23 54-1350 Email: christoph.marx@vtg.com For more information visit www.vtg.com --------------------------------------------------------------------- 19.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: VTG Aktiengesellschaft Nagelsweg 34 20097 Hamburg Germany Phone: 040 2354 1351 Fax: 040 2354 1350 E-mail: ir@vtg.com Internet: www.vtg.de ISIN: DE000VTG9999 WKN: VTG999 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------- 414657 19.11.2015