VTG delivers stable results ‘despite coronavirus crisis’

VTG Aktiengesellschaft ended the first half of the 2020 financial year with solid results – both revenue and EBITDA are roughly on a par with the previous year’s levels.

Group revenue of EUR 605.8 million was actually 1.1% up on the same period a year ago (first half of 2019: EUR 599.3 million). It said: “This fact is attributable to the contribution of a very stable wagon hire business and, in particular, to the repair shops owned by VTG Group.”

It added: “Throughout the crisis, the latter have kept the wagon fleet operational without impairment, thus playing a major role in ensuring reliable supply lines. The transport volume in the logistics units was slightly down, all due to COVID-19-related production outages.”

Despite this dip, it said the logistics divisions were “able to underscore their critical importance” to smooth-running supply chains.

Group EBITDA of EUR 245.8 million in the first half of 2020 was more or less unchanged from the previous year, edging down by just 0.5% (first half of 2019: EUR 247.0 million). Compared to the same period a year ago, fleet capacity utilisation fell by 2.2 percentage points to 90.8% (first half of 2019, 93.0%).

Dr Heiko Fischer, Chairman of the Executive Board of VTG AG, said: “This comes as clear evidence that we have in the past charted the right course for the future of VTG – not least thanks to the smoothly integrated takeovers of recent years. It is particularly gratifying that all three divisions were able to contribute to the good result by improving their operating business.

“From this strong position, we are determined to face the current crisis and pressing ahead with our consistent course of internationalisation, digitisation and innovation – as far as the present developments around the spread of the coronavirus allow”.

For more information visit www.vtg.com

24th August 2020