2005 Annual Report - Touax

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Historical background 1855 Fundation of Compagnie de Touage de la Basse Seine et de l’Oise. 1898 Creation of TOUAX, named SGTR (Société de Touage et de Remorquage), resulting from the merger of Compagnie de Touage de la Basse Seine et de l’Oise and Société de touage et de remorquage de l’Oise: TOUAX owns 14 chain tows and 31 tug boats. 1906 The company is listed on the Marché Comptant of the Paris Stock Exchange. 1926 Significant acquisitions and buyouts of minority interests in many companies (Compagnie fluviale du Midi sur la Garonne, Société de Traction de la Meuse et de la Marne). 1946 Capital increase to finance the renovation of equipment. 1954 First investments in the railcars business. 1973 Launch of the modular buildings business. 1974 Launch of the shipping containers business. 1981 International development with the creation of TOUAX Corporation in the United States. 1985 Acquisition of the container company Gold Container Corporation. 1995 Beginning of financing by securitization and decision to expand equipment management programs for investors. 1999 TOUAX is listed on the Second Marché of the Paris Stock Exchange. 2001 Creation of the subsidiary TOUAX RAIL Ltd in Dublin to develop the railcars business. 2002 TOUAX joins EURONEXT’s NextPrime market segment. 2005 Re-Purchase of 100% of the railcars activity.
The message of the general partners « Our Group is pursuing its growth in the operational leasing of shipping containers, modular buildings, river barges and freight railcars, supported by a trend towards outsourcing among its customers. The Group, which is firmly focused on international operations (90% of its revenues are generated outside France), is benefiting from the performance of the global economy (+3% in 2005) and from the constant growth in the volume of international trade (+7% in 2005 – source UN). The Group’s net attributable income grew by 28.5% in 2005. The shipping container leasing business continues to benefit from the increase in global trade. The modular buildings business has confirmed its recovery with growth in the USA (Florida, Georgia), Poland and Spain. The river barges business benefited from sustained activity on the Mississippi and the Danube. The liberalization of rail freight in Europe is helping the railcar leasing business to continue its growth with new investments. The global economy provides favorable prospects for the Touax businesses in 2006. The recent capital increase (November 2005) has enabled the Group to increase its owned assets, finance growth and acquire 100% of the railcar leasing business (Touax Rail Ltd). These investments will have a significant positive impact, with net income expected to rise by more than 30% in 2006. We would like to thank all of our employees for providing our customers with a quality of service that has made us one of the world’s leading operational leasing companies in each of our four businesses. » Fabrice and Raphaël WALEWSKI General Partners annual report 2005 1
Page 1: 2005 annual report your operational
Page 5 and 6: contents Shipping containers 4 Modu
Page 7 and 8: Modular buildings A flexible servic
Page 9 and 10: Freight railcars Services for indus
Page 11 and 12: tion chart River barges FRANCE Sein
Page 13: Stock market Distribution of capita
Page 16 and 17: Responsible persons Persons respons
Page 18 and 19: Selected financial information Sele
Page 20 and 21: Risk factors annual report 2005 Aga
Page 22 and 23: Risk factors annual report 2005 the
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Page 26 and 27: Information concerning the issuer H
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Page 30 and 31: Brief survey of activities annual r
Page 32 and 33: Organigram Parent-subsidiary relati
Page 34 and 35: Organigram The guarantees and other
Page 36 and 37: Owned real estate, plant and equipm
Page 38 and 39: Information on trends Main trends u
Page 40 and 41: Profit forecasts or estimates Repor
Page 42 and 43: Remuneration and benefit En 2004 (
Page 44 and 45: Main shareholders Breakdown of shar
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Additional information Subscribed c
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Significant contracts There are no
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Reports of the Managers Analysis by
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Reports of the Managers Results of
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Reports of the Managers Regulated a
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Report of the Supervisory Board and
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Recent press releases annual report
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Draft resolutions Combined General
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Draft resolutions annual report 200
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Draft resolutions 2 A variable port
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Table of contents annual report 200
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The present document was filed with
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Tour Arago. 5 rue Bellini 92806 Put
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2005 Annual Report - Touax

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