2005 Annual Report - Touax

Press release of 15 May 2006
Consolidated revenues in the first quarter of 2006: €37.9 million.
Revenues by type
(Unaudited consolidated figures, in € thousands) 2006 2005 variation
Leasing revenues 35,014 28,105 25%
Sales of equipment and sundry items 2,918 17,991 -84%
Consolidated revenues in the first quarter 37,932 46,096 -18%
Revenues by business segment
(Unaudited consolidated figures, in € thousands) 2006 2005 variation
Shipping containers 14,944 28,748 -48%
Modular buildings 10,654 9,424 13%
River barges 8,602 6,503 32%
Railcars and subdry activities 3,733 1,422 163%
Consolidated revenues in the first quarter 37,933 46,097 -18%
Leasing revenues rose 25% in the first quarter of
2006 compared to the first quarter of 2005. Leasing
is a recurrent and growing activity. Consolidated
revenues in the first quarter of 2006 amounted to
€37.9 million, a decline of 18% compared to the first
quarter of 2005. The conclusion of new management
programs, and consequently equipment sales or
asset disposals, can fluctuate substantially from one
quarter to the next. For the record, the shipping
containers business recorded sales of €15 million in
the first quarter of 2005, whereas no shipping
containers were sold in the first quarter of 2006. The
decrease in sales in the shipping containers business
is only temporary; a shift has taken place in
favor of the second and third quarters of 2006. The
Group is therefore confirming its target of a rise of
over 30% in net income in full-year 2006.
The shipping containers business continued to
benefit from the globalization of trade and the sustained
growth in international commerce with a 10%
rise in leasing revenues.
The modular buildings business confirmed its recovery
with a 13% increase in revenues as a result of
new investments.
The river barges business recorded further advances
as a result of the conclusion of new contracts
which have been running since the second half of
2005.
The railcars business continued its growth, spurred
by the full liberalization of rail freight and the acquisition
of 100% of the railcars business in November
2005.
At its meeting of 29 March 2006, the Supervisory
Board resolved to propose to the general meeting of
shareholders of 28 June 2006 that a net dividend of
€0.70 per share be distributed, representing a rise
of 17% compared to the previous year.
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