VTG profits up in 2016
The rail logistics company VTG Aktiengesellschaft (VTG) has reported becoming significantly more profitable in the financial year 2016.
Based on the preliminary and unaudited figures, operating profit (EBITDA) rose by 2.6% to €345.3m (previous year: €336.5m), despite revenue declined by 4% to €986.9m (previous year: €1,027.5m). This positive development is due partly to the ongoing realisation of synergies following the acquisition of AAE, and partly due to successful steps to improve efficiency in various Group divisions.
CEO of VTG, Heiko Fischer said: “2016 was an exciting and eventful year. The realisation of valuable synergies in the Railcar Division after the acquisition of AAE and successful activities to improve efficiency in our logistics divisions have impacted very positively on our business and are contributing to our growing profitability. We expect to see a mild positive trend in revenue and profit in 2017. We will continue to work on our strategy of making rail more attractive and more competitive. The digitisation of our entire European fleet is a major milestone along this road and, at the same time, a forward-looking project that has given us a pioneering role.”
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13th March 2017