VTG AG records best results in its history
VTG AG said in a statement: “VTG was once again able to increase revenue in the 2019 financial year. … Best group result in company history.”
It said this gain was “partly due to operational improvements in all three divisions and one-time effects,” and added that “from this strong position, we are determined to face the current Corona crisis.”
The highlights of the update were as follows:
– Revenue up 14 per cent to EUR 1.22 billion
– EBITDA up 47 per cent to EUR 512 million
– EPS target of EUR 2.50 clearly exceeded with earnings of EUR 2.92
– Operational improvements in all business areas, integration of acquisitions and one-time effects contribute to strong performance
– New Group orientation strengthens long-term competitiveness – more important than ever against the background of the coronavirus crisis
– VTG Executive Board stresses role of rail freight transport for smooth supply chains
In 2019, VTG took what it described as “an important strategic step” and created two new Executive Board portfolios. Since September 1, 2019, Sven Wellbrock, formerly head of the European Railcar Division, has been responsible for railcar and rail logistics business in Europe in his capacity as COO Europe.
Oksana Janssen, previously head of the Railcar Russia business segment, now serves as COO Eurasia & Far East for railcar business in the Eurasian region, for tank container and project logistics activities and for services provided along the Silk Road.
CEO Dr. Heiko Fischer said: “These new Executive Board portfolios and the associated reorganization of our business activities strengthen our competitive position. Closer integration of the railcar and logistics units will enable us to offer our customers an even more comprehensive range of services, and to model transport chains better, faster and more comprehensively.”
In view of the current situation surrounding the coronavirus, he said this is more important than ever: “Right now, we are clearly seeing the importance of international rail freight transport for the security of supply lines throughout Europe. We are fully aware of this responsibility. The strengths of rail freight include the transportation of large quantities with relatively few personnel. Our employees, especially in the plants, in mobile service, on the trains and in the dispatching and control centers, are doing everything in their power to guarantee the ongoing smooth flow of goods. Especially those that cannot work from home but are on-site to ensure smooth supply chains for us all, are among the heroes of our times. Our thanks go to them.”
For more information visit www.vtg.com
25th March 2020
