17.01.2008 18:44:00 CET
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Outlook for 2008 very positive
The container fleet managed and leased by the Touax Group (via its Gold Container Corp subsidiary) at 31 December 2007 represented some 438,195 TEUs, up 19.4% year-on-year.
Global trade is expected to grow 9% in 2008 on the back of stronger trading ties between Asia and Europe, marking an increasing decorrelation vis-à-vis the US market. With demand from ship-owners continuing to be strong so far this year, the Group expects sustained growth in its fleet in 2008.
The modular buildings fleet leased by the Touax Group at 31 December 2007 represented in excess of 30,000 units, up 25.8% year-on-year.
Infrastructure needs in Central and Eastern Europe call for increased availability of modular buildings. In light of this positive outlook, the various new contracts signed in early 2008, and its strategic location in the Czech Republic, the Group expects to have to significantly expand its fleet to meet demand.
The freight railcars fleet managed and leased by the Touax Group (via its Touax Rail subsidiary) at 31 December 2007 represented some 5,424 units, up 29% year-on-year.
The deregulation of European rail freight gave rise to the upswing expected for some years. There is currently a major structural need to renew the European fleet, which has an average age of 29 years, i.e. nearing the end of its useful life. To meet demand from public and private operators, the Touax Group has ordered and already leased in excess of 2,000 railcars to be delivered in 2008, representing an expected increase of over 35%. The goal of having over 10,000 railcars leased and under management by the end of 2010 will more than likely be exceeded.
The increased interest shown by governments and companies in sustainable development and environmental protection, together with the increased volume of trade worldwide in cereals, coal and iron-ore, is bolstering river transportation. The Group ordered and placed 40 barges to be delivered in 2008, representing an expected rise in 2008 of over 25% in the managed fleet.
The Touax Group reaffirms the very positive outlook for 2008 as well as improved results.
The Group will announce more specific targets for 2008 when it publishes its 2007 results on 24 March 2008. 2007 results are expected to be up over 40% on 2006.
The TOUAX Group provides operational leasing of shipping containers, modular buildings, river barges and freight railcars for a global customer base, both for its own account and on behalf of investors.
TOUAX is listed in Paris on NYSE EURONEXT - Euronext Compartment B (ISIN code FR0000033003).
Contacts:
TOUAX
Fabrice & Raphaël WALEWSKI
Managers
touax@touax.com
www.touax.com
Tel: +33(0)1 46 96 18 00
ACTUS FINANCE
Sébastien BERRET
sberret@actus.fr
www.actus.fr
Tel: +33(0)1 53 67 35 77