2005 Annual Report - Touax

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River barges Environmentally friendly Competitive Leasing Transportation 173 barges, self propelled barges and pushboats 1 st in Europe dry cargo barges A growth service driven by economical and environmental benefits. River transport remains the most competitive mode of inland transportation. It is also the least costly for the community and the most environmentally friendly, as it helps to take traffic off the roads. Customers rely on TOUAX for their fleet outsourcing needs and when subcontracting their river transportation requirements. A solid reputation for quality service among industry and transport operators The Group provides two types of service: 2 transportation and chartering (40% of units), 2 leasing of river barges (60% of units). As at 31 December 2005, the TOUAX Group managed a fleet of 173 barges, self-propelled vessels and pushboats (including 133 barges), making it the largest company in Europe providing barge transport of bulk dry cargo, with a daily transport capacity of 379,463 tons (source: TOUAX). The barges operate principally under the “TAF” and “EUROTAF” trade names. TOUAX works on behalf of large industrial groups and transport operators such as EDF, Cargill, Dreyfus, Lafarge, GKE, etc. for the transportation of coal, grain, ore and all kinds of dry heavy goods. A unique international presence TOUAX benefits from a wide geographical presence: In France (Seine, Rhone), TOUAX leases barges transporting coal, grain, fertilizer, cement and construction materials, as well as large-volume packages. In the Netherlands (Rhine, Meuse, Moselle, Main), the Group leases barges and transports and stores phosphates, fertilizers, coal, ore and iron. In addition, the Group maintains a river link between Rotterdam and a large number of ports in the Benelux countries, France, Germany and Switzerland, for the transportation of containers. In Romania (Danube), the Group transports and stores grain, cement, steel, coal and ore on the Rhine-Main- Danube network, which extends over 2,500km across seven countries. TOUAX is one of the leading operators in the Romanian market. In the United States (Mississippi), TOUAX leases barges for the transportation of grain, steel coils, fertilizers and cement. In South America, TOUAX has sold its equipment and plans in the medium term to reposition itself in operational leasing and the lease-purchase of barges for the main local operators on the Parana river. annual report 2005 6
Freight railcars Services for industrial operators and rail networks. Resumption of investments and development of leasing In the 19 th century, the development of the railway boosted and improved international trade. Rail transport was the principal mode of transportation until 1930. It was seriously challenged by road transport for many years, but is today regaining its leading role. Governments are turning increasingly to this mode of transport for economic and environmental reasons. The advanced age of the railcar fleet (estimated at over 30 years in Europe) requires substantial investment, which will be provided by both operators and lessors. The TOUAX service In Europe Bolstered by its leading position in the European container leasing market, TOUAX has specialized in intermodal railcars for the transportation of shipping containers and swap bodies, placing its expert market knowledge at its customers’ disposal. The railcars offered by the Group (mainly 45’, 60’, 90’ and 106’ intermodal flat railcars) can circulate freely throughout mainland Europe (including Great Britain for certain types of railcar, but excluding Spain and Russia). TOUAX has developed a continuous production line of new railcars and can therefore offer short delivery times. The company also offers the leasing and sale of renovated railcars from Eastern Europe. TOUAX Rail offers a wide range of contracts both in Europe and in the United States: 2 flexible operational leasing (1 to 7 years) for renovated second-hand railcars, 2 medium and long-term operational leasing (3 to 7 years) for new railcars, 2 lease-purchase, 2 sale and leaseback program. All these contracts may be entered into as “full-service leases”, which means that rents include the servicing and maintenance of the railcars. TOUAX has entered into numerous partnerships with rail workshops to provide local technical monitoring of railcars and to ensure a rapid and efficient service. The Group is currently working with the main public and private rail operators in Europe and the United States, as well as the major industrial groups that use this mode of transport. Presence and outlook TOUAX currently offers its services in Europe and the United States through a network of four offices in Dublin (Ireland), Paris (France), Constanza (Romania) and Chicago (United States). TOUAX will continue to invest in new railcars to meet the increasing demands of its customers. It will also continue to develop its relationships in Europe with rail operators from the public and private sectors. Flexible leases Intermodal cars Hopper cars Combined rail-road 2 nd largest European lessor of intermodal rail cars 4 offices in Europe and USA In the United States TOUAX has formed a joint venture with Chicago Freight Car Leasing (CFCL – TOUAX). This partner operates over 7,000 hopper cars for transporting heavy products such as sand, cement and grain. annual report 2005 7
Page 1 and 2: 2005 annual report your operational
Page 3 and 4: The message of the general partners
Page 5 and 6: contents Shipping containers 4 Modu
Page 7: Modular buildings A flexible servic
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
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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
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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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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 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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