Despite seeing a fall of 15 percent in its consolidated turnover
during the first half of this year, French lessor Touax still
managed to increase its net profits, largely thanks to growth in
its leasing division.
Its consolidated turnover dropped from €147 million between
January and June last year to €124 million during the same period
in 2009, however turnover at its core leasing arm grew 9 percent,
from €37.4 million to €44.4 million, according to figures published
today.
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Touax, which saw revenues in 2008 grow year-on-year by 20
percent, said that the upturn in its leasing arm was largely thanks
to new “contracts signed in 2008”, although this was marginally
offset by a large decline in its non-core equipment sales arm, from
€52.8 million in the first six months of 2008 to €21.9 million this
year.
The rise in its leasing business, which coincides with a 9
percent rise year-on-year in the company’s net profits, was also
“due to the mainly long-term nature of its leases and the rise in
the fleet of equipment managed”.
Turnover at its shipping containers arm, part of its leasing
division, grew 18 percent while its railcars business saw growth of
20 percent. Touax Rail is committed to acquiring 25 percent of SFR
Railcar Leasing, which was founded by Touax and an investment fund
owned by DVB Bank SE.
Brendan Malkin
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