24.04.2007 19:00:00 CET
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PRESS RELEASE Paris, 24 April, 2007 - 7pm
YOUR OPERATIONAL LEASING SOLUTION
- A centenary of stock market listing marked by strong earnings growth in 2006 (+76%) and a positive outlook for 2007
On the occasion of the celebration of the centenary of TOUAX's listing on the Paris Stock Exchange, the Group's management discussed the previously published 2006 annual results, as well as the growth outlook for 2007. TOUAX is steadfastly implementing a development strategy based on increasing the amount of new leased assets across the four businesses, in markets that are structurally growing.
Currently listed on the Euronext, the Group's first listing on the Paris Stock Exchange direct settlement market dates back to May 7, 1906. This celebration provided the Group with the opportunity to show off its new logo and celebrate over 150 years of unbroken dividend payments.
Sales robust across all Group businesses
With 2006 net attributable income up 76% on 2005 (€7.2 million versus €4.1 million) and 90% of sales generated internationally, TOUAX is benefiting from the positive impact of its development strategy. The Group is thus looking to continue its profitable growth in 2007 in its shipping container, modular building, river barge and railcars operational leasing businesses, sustained by a structural trend towards outsourcing amongst its customers.
The Shipping Containers division is driven by trade globalization. The Group expects to rapidly pass 400,000 TEU (twenty foot equivalent unit) under management by June 2007, with a +38% expansion in the fleet since 1 January 2006. This expansion comes on the back of the putting in place of operational leasing arrangements with the leading global ship-owners in the first quarter of 2007. The Group is currently looking at new avenues of cooperation with its customers that would enable it to increase its growth potential.
The Modular Buildings division is sustained by the need for flexibility by industry and regional authorities, and by the strength of the building sector in Europe. TOUAX acquired a leasing company with 1,000 modules in Germany to grow its market share. Since the start of 2007, the Group has also signed major contracts with:
- Alstom on the Fos sur Mer Arcelor Méditerranée site for the leasing of 313 modules for a period of 24 to 36 months for use as offices and site facilities for its employees and subcontractors; the customer was looking for a flexible, progressive, cost-effective and environmentally-friendly solution;
- Vinci, as part of a national framework agreement for the supply of modular buildings, the most recent development being site facilities involving 144 modules for a period of 18 months at the Grands Moulins de Paris, Porte de Pantin site;
- The Rhône regional council and the city of Lyon as part of a 3-year purchase order based tender.
The River Barges division is benefiting from the aging of fleets in the European market. To satisfy demand for replacement, the TOUAX Group ordered 22 barges in China for the Rhine and Danube basins and 12 barges in South America for the Parana basin (Paraguay).
The Railcars division is driven by the deregulation of European rail transport. TOUAX signed a major contract to supply Deutsche Bahn with 915 60-foot intermodal railcars for the transportation of shipping containers by rail. This deal represents an investment of some €50 million in new railcars, with delivery scheduled for 2007 and 2008. TOUAX's railcar fleet will rise from the 4,191 railcars managed at end December 2006 to over 7,000 railcars within a period of two years. The stated goal of having a fleet of 10,000 railcars in under 5 years will be achieved faster than anticipated.
In 2007, accretive investments against a global economic backdrop that is favorable to the Group's businesses
The Group's strategy is to continue growing the leased assets in its four businesses by acquiring market share and increasing economies of scale. The Group will boost its property investments, offering significant recurring income and opportunities for capital gains, which, combined with investments managed on behalf of third parties, will enable it to grow the operating margin.
In sum, the prospects for the global economy in 2007 are favorable for the Group's businesses. The anticipated investments will be accretive with earnings expected to grow by 40% during 2007 in order to quickly reach €1 billion in leased assets.
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TOUAX is listed on Euronext Paris (Eurolist Compartment C and is part of the EURONEXT Next Prime quality segment.
Ticker: TOUP / ISIN Code FR0000033003)
Contacts:
Fabrice WALEWSKI / Raphaël WALEWSKI Managers touax@touax.com Tel: +33 (0)1 46 96 18 00
Sébastien BERRET sberret@actus.fr Tel: +33 (0)1 53 67 36 52
www.touax.com