VTG Aktiengesellschaft / Preliminary Results
04.03.2008
Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Hamburg, March 4, 2008. VTG Aktiengesellschaft, one of the leading rail
logistics companies in Europe (SCN: VTG999), today presented preliminary,
unaudited figures for the financial year 2007. Group revenue climbed to EUR
541.4 million compared to the prior year this represented a gain of EUR
22.9 million or 4.4 percent. VTGs improvement in operating earnings
(EBITDA) was particularly significant increasing from EUR 112.9 million to
EUR 137.0 million representing strong growth amounting to 21.3 percent.
As commented by Dr. Heiko Fischer, chairman of the executive board of VTG
AG, the company exceeded its increased forecast at the end of 2007: 'The
improvement in Group revenue is at the top end of the range targeted and
operating earnings are even slightly higher than expected. Thus, in the
year of its IPO, VTG was able to successfully pursue its targeted growth
policy.'
VTG experienced continued growth in 2007. Supported by a favorable economic
environment in Europe, as well as positive contracts in hand, the Wagon
Hire Division generated revenue of EUR 260.5 million compared to the prior
year amount of EUR 235.1 million, this represents an increase of 10.8
percent. With a share of 48.1 percent, this business division was also
responsible for the largest contribution to Group revenue. The wagon fleet
comprised 47,800 rail cars (prior year 47,400) as at 31 December 2007. The
utilization rate at the year end increased to 93.9 percent (prior year 90.7
percent).
In the Rail Logistics Division, annual revenue was EUR 153.8 million
compared to the prior year level of EUR 170.4 million. Reasons for this
included the loss of one customer contract and the changeover in invoicing
by another customer.
On the other hand, the Tank Container Logistics Division significantly
increased its revenue by 12.4 percent from EUR 113.1 million to EUR 127.2
million.
Additionally, in all three business divisions, VTG managed to improve
EBITDA by a double digit percentage.
In 2008 VTG Aktiengesellschaft expects stable business development with
steady growth in revenue and earnings. 'We continue to see good growth
prospects for the current year. Rail transport contributes significantly to
the provision of a basic infrastructure and, as a reliable and
environmentally friendly means of transport, continues to be in strong
demand even in an economic environment that is possibly cooling down', adds
Dr. Fischer.
Note to editorial staff:
VTG Aktiengesellschaft will present its complete annual financial
statements for 2007 on 28 April 2008 as part of a press briefing on its
annual results.
About VTG:
VTG Aktiengesellschaft is one of Europes leading rail logistics and wagon
hire companies. With about 48,000 rail freight cars, VTG has Europes
largest private wagon fleet. In addition to the hiring of rail freight cars
the Group offers comprehensive logistic services around rail transport and
additionally operates in global tank container logistics.
With the combination of its three interrelated business divisions Wagon
Hire, Rail Logistics and Tank Container Logistics VTG offers its clients a
high-performance platform for international transport of their freight. The
Group has many years of experience and specific know-how in particular in
the transport of liquid and sensitive goods. Its customers include numerous
well-known companies from almost all industrial sectors such as, for
example, the chemical, mineral oil, automobile or paper industries.
Via its subsidiaries and investments the company, which has its head office
in Hamburg, is mainly present in Europe, Asia and North America. VTG has
about 800 employees worldwide in consolidated companies. VTG AG has been
listed on the official Prime Standard market of the Frankfurt Stock
Exchange since June 2007.
Press contact:
Trade media
Simone Aulert
Head of communication and marketing
Telephone: +49 (0) 40 2354 1343
Fax: +49 (0) 40 2354 1340
Email: simone.aulert@vtg.com
Business and financial media
Bettina Fries
Telephone: +49 (0) 211 430 79 70
Fax: +49 (0) 211 430 79 79
Email: bfries@heringschuppener.com
Information also available under www.vtg.com
Trade media
Simone Aulert
Head of communication and marketing
Telephone: +49 (0) 40 2354 1343
Fax: +49 (0) 40 2354 1340
Email: simone.aulert@vtg.com
Business and financial media
Bettina Fries
Telephone: +49 (0) 211 430 79 70
Fax: +49 (0) 211 430 79 79
Email: bfries@heringschuppener.com
DGAP 04.03.2008
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Language: English
Issuer: VTG Aktiengesellschaft
Nagelsweg 34
20097 Hamburg
Deutschland
Phone: 040 2354 0
Fax: 040 2354 1199
E-mail: info@vtg.de
Internet: www.vtg.de
ISIN: DE000VTG9999
WKN: VTG999
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: VTG Aktiengesellschaft: VTG reports strong revenue and earnings growth / preliminary figures published for the financial year 2007
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