VTG AG boosts revenue in first nine months of 2017

VTG Aktiengesellschaft, one of the leading railcar leasing and rail logistics companies in Europe, increased its revenue in the first nine months of 2017 to €750.2m, slightly up on the same period a year ago, €742m.

Despite this increase, EBITDA of €250.7m fell just short of the previous year’s figure €255.9m. This drop is attributable to one-time charges for the preparation of unleased wagons and the planned takeover of the Nacco Group. Accordingly, Group net profit of €44.1m was slightly down on the figure for the same period of the previous year €45m.

Chairman of the Executive Board of VTG AG, Heiko Fischer said: “The numbers for the first nine months show that we are consistently maintaining the positive revenue trend witnessed in recent months. Development at the logistics divisions is satisfactory, and capacity utilization at Railcar has reached the highest level since 2008. Regrettably, one-time charges for the preparation of unleased wagons and the planned acquisition of Nacco slightly put the brake on our EBITDA. At the same time, continuing growth in demand for our products and services is an indicator for the development of our business.”

For more information visit www.vtg.com

27th Nov 2017