VTG Aktiengesellschaft / Quarter Results 27.05.2009 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- VTG demonstrates strength in the first quarter 2009 despite the challenging market environment - Group sales of EUR 145.2 million similar to the previous year - EBITDA increased by 5.1 percent to EUR 38.3 million - Continued development in the business divisions Hamburg, 27 May 2009. The Hamburg-based wagon hire and rail logistics company, VTG Aktiengesellschaft (SCI: VTG999), performed solidly in the first three months of the 2009 financial year, despite a challenging market environment. Revenue fell slightly by 1.5 percent to EUR 145.2 million, thus reaching the same level as last year. The EBITDA increased by 5.1 percent to EUR 38.3 million. Operating cash flow increased 17.2 percent to EUR 36.4 million, well above last year's value. 'Our good figures for the first quarter of this year, show that we are also capable of working successfully in difficult economic times. Sustained success also means adapting oneself early to a continuingly weak market, and having the respective measures well prepared,' states Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft. 'This is the why we intend to keep the speed and volume of our investments in 2009 below the level of last year. In the middle-term, we will continue to pursue our international strategy of growth.' Wagon Hire Division with stable development The Wagon Hire Division performed well in the first quarter of the year. The demand for wagons remained at a satisfactory level, although not all returns can be rehired currently. The utilization rate for the fleet lies at the high level of 90.0 percent. VTG does not sense any significant decrease in the demand for wagon hire currently. The division's revenue of EUR 71.2 million remained at the same level as the comparative period last year (EUR 71.7 million). The EBITDA actually rose by 5.7 percent, from EUR 36.4 million to EUR 38.5 million. The EBITDA margin, which relates to revenue, improved correspondingly, from 50.7 percent to 54.1 percent. Rail Logistics Division continues with solid growth The Rail Logistics Division profited from constant demand, in particular in cross-border block train transport from and to South-East and Eastern Europe. This was underlined by an increase in revenue of 9.9 percent to EUR 47.1 million. The EBITDA increased significantly by 12.1 percent to EUR 1.3 million. The EBITDA margin, which relates to gross income, reached 36.3 percent, compared to 37.8 percent in the first quarter of 2008. Tank Container Logistics Division affected by drop in demand in the chemicals industry As an integral part of the supply chain in the chemicals industry, the Tank Container Logistics Division has been strongly affected by the global economic crisis. Drastically sinking transport volumes worldwide, coupled with continuingly high capacities in the market, have led to a clear drop in revenues. Correspondingly the revenue fell by 18.4 percent to EUR 26.8 million. The EBITDA of EUR 1.6 million was 24.6 percent under that for the previous year. The EBITDA margin, calculated on the basis of gross income, reached 41.2 percent, a similar level to the comparative quarter of the previous year (41.4 percent). Outlook: solid development in business despite tense short-term economic prospects VTG assumes that the economic climate will hardly improve during the rest of the financial year, but do not expect a larger drop in demand at the VTG business divisions. In line with this the business development for Wagon Hire will continue to decrease moderately, the economic crisis will make itself noticeable in the Rail Logistics Divisions in the course of the year, and VTG will adjust itself to the prospect of a sustained lower level of demand at the Tank Container Logistics Division. Preventive and flexible measures to ensure results are planned at all three divisions and will be implemented in line with developments in the market. These range from the incremental implementation of cost-saving measures, to adjustments in investments. Key figures for VTG Aktiengesellschaft <pre> 01.01.-31.03. 01.01.-31.03. Change 2009 2008 in % Revenue in EUR million 145.2 147.4 -1.5 EBITDA in EUR million 38.3 36.4 5.1 EBIT in EUR million 18.4 17.4 5.7 EBT in EUR million 10.8 9.4 14.6 Group profit in EUR million (adjusted for tax effects) 6.9 6.3 8.4 Depreciation and amortization in EUR million 19.9 19.1 4.5 Capital expenditure in EUR million 24.5 31.8 -23.1 Cash flow in EUR million 36.4 31.1 17.2 Earnings per share in EUR (adjusted for tax effects) 0.31 0.29 6.9 Wagon Hire Division Revenue in EUR million 71.2 71.7 -0.6 EBITDA in EUR million 38.5 36.4 5.7 EBITDA margin in % 54.1 50.7 Rail Logistics Division Revenue in EUR million 47.1 42.9 9.9 EBITDA in EUR million 1.3 1.2 12.1 EBITDA margin in % 36.3 37.8 Tank Container Logistics Division Revenue in EUR million 26.8 32.9 -18.4 EBITDA in EUR million 1.6 2.1 -24.6 EBITDA margin in % 41.2 41.4 31.03. 31.03. Change 2009 2008 in % Number of employees 1,016 831 22.3 in Germany 677 508 33.3 Abroad 339 323 5.0 31.03. 31.03. Change 2009 2008 in % Balance sheet total in EUR million 1,260.5 1,240.5 1.6 Non current assets in EUR million 1,087.2 1,081.2 0.6 Current assets in EUR million 173.3 159.3 8.8 Shareholders' equity in EUR million 289.6 288.4 0.4 Total liabilities in EUR million 970.9 952.1 2.0 Equity ratio in % 23.0 23.3 </pre> About VTG: VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail logistics companies. The company has the largest private wagon fleet in Europe. Globally the fleet consists of about 50,000 wagons with a focus on tank cars and state of the art high capacity freight cars and flat cars. In addition to the hiring of wagons, the Group offers global tank container transport and comprehensive multi-modal logistics services mainly around rail transport. With the combination of its three interrelated 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, chemicals, mineral-oil, the automotive or paper industries. In the financial year 2008 VTG generated operating revenues of EUR 608.7 million and an operating result (EBITDA) of EUR 156.4 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, Asia and North America. As at 31 December 2008 VTG employed 1,004 employees worldwide in consolidated companies. Since June 2007 VTG AG has been listed on the official Prime Standard market of the Frankfurt Stock Exchange - since September 2008 also on the SDAX (SCN: VTG999). Media contact: Tanja Laube Head of Corporate Communications Telephone: +49 (0) 40 23 54-13 41 Fax: +49 (0) 40 23 54-13 40 Email: tanja.laube@vtg.com Felix Zander Head of Investor Relations Telephone: +49 (0) 40 23 54-13 51 Fax: + 49 (0) 40 23 54-13 50 Email: felix.zander@vtg.com Further information at www.vtg.com DGAP 27.05.2009 --------------------------------------------------------------------------- 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 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------