DGAP-News: VTG significantly expands its 2014 business


DGAP-News: VTG Aktiengesellschaft / Key word(s): Preliminary Results
VTG significantly expands its 2014 business

04.03.2015 / 07:30

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VTG significantly expands its 2014 business 

  - Revenue increases by 4.4 percent, EBITDA by 4.0 percent

  - Railcar Division remains strong, logistics divisions paint a diverse
    picture

  - Foundations laid for full-service for rail transport

  - 2015 focus: Integration of the AAE acquisition

  - EUR 0.45 proposed dividend 

Hamburg, March 4, 2015. VTG Aktiengesellschaft (WKN: VTG999), one of the
leading wagon hire and rail logistics companies in Europe, has built upon
the growth it experienced in 2014 and has, again, increased revenue and
results. The unaudited figures released today confirm turnover growth of
4.4 percent (EUR 818.3 million). Operating profit (EBITDA) rose by a total
of 4.0 percent, to EUR 191.0 million. The acquisition of Ahaus Alstätter
Eisenbahn Holding AG - AAE will clearly have an effect on VTG's revenue and
results in 2015.

"We have successfully built upon our business in 2014 and, in purchasing
AAE, we have taken a considerable strategic step", explains Dr. Heiko
Fischer, CEO of VTG AG. "In the coming months, we will set our focus on
integration, develop sector and customer-oriented service packages and
bundle our procurement and service activities with the intention of
generating significant increases in productivity."

Continued positive business developments in the Railcar Division

Even in 2014, the positive business developments in the Railcar Division
were founded in the distribution of numerous new wagons to various
customers and good cost management as well as a slight increase in fleet
utilization levels. Revenues increased by 3.7 percent, from EUR 332.9
million to EUR 345.4 million. The EBITDA rose by 7.3 percent, from EUR
181.1 million to EUR 194.4 million and the utilization levels increased to
91.0 percent (previous year: 89.8 percent).

Logistics divisions with differing developments

The European political situation in 2014 was particularly reflected in the
results of the Rail Logistics Division. In terms of turnover, in the
industrial goods segment, the Rail Logistics Division benefited from
consolidating the VTG and Kühne + Nagel rail logistic activities at the
start of 2014. However, tensions between Russia and Ukraine almost led to a
complete halt of traffic in this region. Import and export flows were also
heavily disrupted. In addition, heavier competition led to sales losses in
the liquid goods segment. Correspondingly, contrary to the expectations
associated with the joint venture, revenue rose by only 7.9 percent from
EUR 298.4 million to EUR 322.0 million. Furthermore, the clearly expanded
cost structure had a particular impact on the EBITDA which was EUR 4.1
million under the previous year's EUR 3.8 million, and amounted to EUR -0.2
million in the period under review. The introduction of a new structure and
the process optimization measures which are already in place have ensured
that the foundations allowing the Rail Logistics Division to make a
positive contribution to the company's net profit in 2015 have already been
laid.

In spite of a further decline of prices, the turnover in the Tank Container
Logistics Division was almost at the same level as last year and stands at
EUR 150.9 million, only 0.9 percent below last year's EUR 152.3 million.
The EBITDA appears to be much more positive: as a result of one-off
investments, it increased by 38.7 percent, from EUR 9.2 million to EUR 12.8
million.

2015's focus: the integration of AAE

With the purchase of AAE, VTG has consolidated its position as the largest
private wagon hire company in Europe. As the approximate sum of 30,000
wagons owned by AAE have been added to the current 50,000 already belonging
to VTG, the VTG fleet is now around 80,000 wagons strong. With the addition
of new types of wagons, mostly from the intermodal section, VTG is closing
an important gap in its product portfolio and will soon be able to offer a
full range of rail services for almost all shipping and railway companies
as well as freight carriers. The acquisition of AAE is leading to a clear
increase in revenue and operative results but integration costs will have
to be taken into consideration.

Overall, the VTG AG Executive Board expects positive business developments
in 2015. They anticipate revenue of between EUR 1.0 billion and 1.1 billion
as well as an EBITDA of between EUR 325 and 350 million. Moreover, the
Board intends to propose the payment of a dividend of EUR 0.45 for the 2014
financial year at the Annual General Meeting, which represents an increase
of seven percent.

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.

In the financial year 2013, VTG generated revenue of EUR 783.7 million and
operating profit (EBITDA) of EUR 183.8 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 2013,
VTG had 1,191 employees worldwide in consolidated companies. Since June
2007, VTG AG has been listed on the official Prime Standard market of the
Frankfurt Stock Exchange (WKN: VTG999).

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.

Press contact:
Monika Gabler
Head of Corporate Communications
Telephone: +49 (0) 40 23 54-1341
Fax:  +49 (0) 40 23 54-1340
E-mail:  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
E-mail:  christoph.marx@vtg.com

For more information visit www.vtg.de



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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                                           
 
 
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