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August 19, 2009updated 12 Apr 2017 4:33pm

Textainer “pleased” with half-year results

Textainer, the worlds largest container fleet lessor, said it had taken advantage of its growing size to boost half-year earnings by 1.3 percent year-on-year, despite suffering lower revenue. Although Textainers overall business was down 20 percent to $114 million (80 million), EBITDA was up 1.3 percent to $92.6 million, a result which John Maccarone, president and CEO of Textainer, said he was pleased with.

By Fred Crawley

Textainer, the world’s largest container fleet lessor, said it
had taken advantage of its growing size to boost half-year earnings
by 1.3 percent year-on-year, despite suffering lower revenue.

Although Textainer’s overall business was down 20 percent to
$114 million (€80 million), EBITDA was up 1.3 percent to $92.6
million, a result which John Maccarone, president and CEO of
Textainer, said he was “pleased” with.

According to Maccarone, increasing Textainer’s leased fleet had
limited the blow of the “severe cyclical downturn in the container
shipping industry”. He added that the company had over $350 million
at hand and was ready for additional acquisitions.

“The company anticipates that there will be attractive
additional opportunities to acquire competitors, enter into
purchase leaseback transactions and purchase fleets under
management, as it has done year-to-date in 2009,” Maccarone
said.

Fred Crawley

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