Touax: Increase of the activity level in 1st quarter 2025
15 Mai 2025 - 5:45PM
UK Regulatory
Touax: Increase of the activity level in 1st quarter 2025
PRESS
RELEASE Paris, 15
May 2025 – 5:45 pm
YOUR OPERATIONAL LEASING SOLUTION FOR
SUSTAINABLE TRANSPORTATION
Increase of the activity level in
1st quarter
2025
-
Business volume of €39.0 million
(+7.2%)1
-
Growth in owned activity (+€2.0 million;
+5.7%)
|
Total restated revenue2 for the
1st quarter 2025 amounts to €39.0 million (€38.5 million
at constant currency and scope3), compared to €36.4
million of restated revenue at the same period in 2024.
|
Restated Revenue from activities |
Q1 2025
|
Q1 2024
|
Variation
|
|
(in € thousand) |
|
Leasing revenue on owned equipment |
17,136 |
19,381 |
-2,245 |
|
Ancillary services |
4,728 |
3,021 |
1,707 |
|
Sales of owned equipment |
14,731 |
12,213 |
2,518 |
|
Total of owned activity |
36,595 |
34,615 |
1,980 |
|
Total of management activity |
2,204 |
1,765 |
439 |
|
Other capital gains on disposals |
211 |
0 |
211 |
|
Total Others |
211 |
0 |
211 |
|
Total Restated Revenue from activities |
39,010 |
36,380 |
2,630 |
Revenue from Owned activity
amounts to €36.6 million in the first three months of the year,
including:
- €17.1 million for leasing revenue
of owned equipment, a -€2.2 million decrease mainly from the
Freight Railcars activity.
- €4.7 million for ancillary
services, up by +€1.7 million, mainly on Containers activity.
- €14.7 million for sales of owned
equipment (+€2.5 million), up across all business lines.
Revenue from Management
activity amounts to €2.2 million (+24.9% over the first
quarter), with joint increases in syndication fees for the River
Barges activity and in sales fees on second-hand equipment owned by
investors for the Containers activity.
The slowdown in the Freight Railcars activity
was offset by incomes from other activities (River Barges,
Containers and Modular Buildings), confirming the strength of
TOUAX's business model, characterised by a diversified product
offering and a strong global presence in various complementary
business segments.
ANALYSIS OF THE CONTRIBUTION BY
DIVISION
|
Restated Revenue from activities |
Q1 2025
|
Q1 2024
|
Variation
|
|
(in € thousand) |
|
Leasing revenue on owned equipment |
11,410 |
12,234 |
-824 |
|
Ancillary services |
863 |
1,137 |
-274 |
|
Sales of owned equipment |
651 |
136 |
515 |
|
Total of owned activity |
12,924 |
13,507 |
-583 |
|
Total of management activity |
520 |
746 |
-226 |
|
Total Freight Railcars |
13,444 |
14,253 |
-809 |
|
Leasing revenue on owned equipment |
1,904 |
1,749 |
155 |
|
Ancillary services |
1,520 |
1,196 |
324 |
|
Sales of owned equipment |
297 |
1 |
296 |
|
Total of owned activity |
3,721 |
2,946 |
775 |
|
Total of management activity |
629 |
32 |
597 |
|
Total River Barges |
4,350 |
2,978 |
1,372 |
|
Leasing revenue on owned equipment |
3,822 |
5,394 |
-1,572 |
|
Ancillary services |
2,345 |
688 |
1,657 |
|
Sales of owned equipment |
9,811 |
8,955 |
856 |
|
Total of owned activity |
15,978 |
15,037 |
941 |
|
Total of management activity |
1,055 |
987 |
68 |
|
Other capital gains on disposals |
-2 |
0 |
-2 |
|
Total Others |
-2 |
0 |
-2 |
|
Total Containers |
17,031 |
16,024 |
1,007 |
|
Leasing revenue on owned equipment |
0 |
4 |
-4 |
|
Sales of owned equipment |
3,972 |
3,121 |
851 |
|
Total of owned activity |
3,972 |
3,125 |
847 |
|
Other capital gains on disposals |
213 |
0 |
213 |
|
Total Others |
213 |
0 |
213 |
|
Total Miscellaneous and eliminations |
4,185 |
3,125 |
1,060 |
|
|
|
|
|
|
Total Restated Revenue from activities |
39,010 |
36,380 |
2,630 |
The Freight Railcars activity
is down by -€0.8 million (-5.7%) during the first quarter, impacted
by the decrease in leasing revenue on owned equipment and ancillary
services due to lower volumes on maintenance contracts. With the
slowdown in the European intermodal rail transport market, we see a
decline in the average utilisation rate to 80.8% over the quarter,
partly offset by the good performance of the business in India
where Touax Rail has been present since 2011.
Management activity also decreased by -€0.2 million, with lower
syndication volumes.
The River Barges activity
increased by +€1.4 million compared with the 1st quarter
of 2024. This increase of +46.1% reflects the good performance of
the owned activity (+€0.8 million) and the management activity
(+€0.6 million). The division’s performance is illustrated by its
average utilisation rate of 98.2% for the quarter (against 92.5%
the previous year).
Revenues in the Containers
activity amounted to €17.0 million, +€1.0 million over the period,
with a satisfactory average utilisation rate of 96.4%.
In 2024, leasing revenue on owned equipment incorporated the
invoicing of the full leasing contract to Kalypso, which went
bankrupt. This invoicing, which was fully depreciated, artificially
inflated leasing revenue. By eliminating this effect, leasing
revenue rose by +€0.4 million (+11.7%) in the first quarter.
Ancillary services increased by +€1.7 million with the resumption
of invoicing of pick-up charges. Sales of owned equipment also
increased by +€0.9 million over the period (mainly related to the
trading of new containers).
Management activity remains stable (+€0.1 million), driven by sales
fees on investor equipment.
The Modular Buildings
activity, accounted in the "Miscellaneous" line,
increase by +€1.1 million (+34%) during the first quarter 2025.
OUTLOOK
The short term outlook is mixed. Geopolitical
issues, announcements on US tariffs and the low European economic
growth (impacting intermodal rail transport) are generating
uncertainties about world trade growth. On the other hand, possible
trade agreements and the end of the war in Ukraine could reverse
the trend and have positive effects at the end of the year.
Over the medium and long term, the underlying
trend remains positive for all the Group’s activities. The growing
demand for environmentally friendly transport solutions
(intermodal, rail and river) is a strong support for our
activities. Asset management on behalf of third parties continues
to perform well, driven by investor interest in leasing investment
strategies for real assets linked to infrastructure and sustainable
transport.
UPCOMING EVENTS
- June 12, 2025:
Annual General
Meeting
- September 18, 2025:
Videoconference presentation of the half-year results, in
French
- September 19, 2025:
Videoconference presentation of the half-year results, in
English
TOUAX Group leases out
tangible assets (freight railcars, river barges and containers) on
a daily basis worldwide, both on its own account and for investors.
With €1.3 billion of assets under management, TOUAX is one of the
leading European players in the leasing of such equipment.
TOUAX is listed on the
EURONEXT stock market in Paris - Euronext Paris Compartment C (ISIN
code: FR0000033003) - and is listed on the CAC® Small, CAC® Mid
& Small and EnterNext©PEA-PME 150 indices.
For further
information please visit: www.touax.com
Contacts :
TOUAX SEITOSEI
● ACTIFIN
Fabrice & Raphaël
WALEWSKI Ghislaine
Gasparetto
touax@touax.com ghislaine.gasparetto@seitosei-actifin.com
www.touax.com Tel :
+33 1 56 88 11 22
+33 1 46 96 18 00
APPENDICES
1 – Analysis of revenue from
activities
|
Revenue from activities |
Q1 2025
|
Q1 2024
|
|
(in € thousand) |
|
Leasing revenue on owned equipment |
17,136 |
19,381 |
|
Ancillary services |
5,880 |
3,644 |
|
Sales of owned equipment |
14,731 |
12,213 |
|
Total of owned activity |
37,747 |
35,238 |
|
Total of management activity |
8,672 |
9,888 |
|
Other capital gains on disposals |
211 |
0 |
|
Total Others |
211 |
0 |
|
Total Revenue from activities |
46,630 |
45,126 |
2 - Table showing the transition from
summary accounting presentation to restated
presentation
|
Revenue from activities |
Q1 2025
|
Retreatment
|
Restated |
Q1 2024
|
Retreatment
|
Restated |
|
(in € thousand) |
Q1 2025 |
Q1 2024 |
|
Leasing revenue on owned equipment |
17,136 |
|
17,136 |
19,381 |
|
19,381 |
|
Ancillary services |
5,880 |
-1,152 |
4,728 |
3,644 |
-623 |
3,021 |
|
Sales of owned equipment |
14,731 |
|
14,731 |
12,213 |
|
12,213 |
|
Total of owned activity |
37,747 |
-1,152 |
36,595 |
35,238 |
-623 |
34,615 |
|
Total of management activity |
8,672 |
-6,468 |
2,204 |
9,888 |
-8,123 |
1,765 |
|
Other capital gains on disposals |
211 |
|
211 |
0 |
|
0 |
|
Total Others |
211 |
0 |
211 |
0 |
0 |
0 |
| Total
Revenue from activities |
46,630 |
-7,620 |
39,010 |
45,126 |
-8,746 |
36,380 |
1 Business volume is equivalent to
the restated revenue from activities
2 To ensure an understanding of the
performance of the activities, the key indicators of the Group's
activity report are presented differently from the IFRS income
statement. For this reason, no distinction is made in the
management of third-party accounts, which is presented exclusively
as an agent.
This presentation allows for a direct reading of the management
activity, including syndication fees, sales fees and management
fees.
This presentation does not result in any difference in operating
EBITDA, operating profit and net profit. The accounting
presentation of the revenues of the activities is reported in the
annex to the press release.
3 Based on a comparable
structure and on average exchange rates at 31 March 2024
- ENG TOUAX Press release - Q1 2025
Touax (EU:TOUP)
Graphique Historique de l'Action
De Juin 2025 à Juil 2025
Touax (EU:TOUP)
Graphique Historique de l'Action
De Juil 2024 à Juil 2025
