GlobeNewswire by notified

Touax: Q1 2021 restated revenues from activities

Share

PRESS RELEASE        Paris, 14 May 2021 – 5.45 p.m.

YOUR OPERATIONAL LEASING SOLUTION FOR SUSTAINABLE TRANSPORTATION

Q1 2021 restated revenues from activities

  • Restated revenues from activities amounted to €24.6m in Q1 2021, stable in constant dollars compared to the same period in 2020.
  • Favourable outlook with a significant order book

New segmentation of revenues betweenownedactivities and management activities.

In order to enable a more detailed and more accurate reading of its activities, the Group decided to update the key indicators of its quarterly report:

  • Revenues from activities are restated in order to present ownedactivities separately from management activities.
  • For management activities, leasing revenue from investor-owned equipment is replaced by management fees, which correspond to the net contribution of the leasing management activity to the Group's performance.

This presentation showssyndication fees, sales feesand now management fees, grouped together under management activity, separate from ownedactivity.

The accounting presentation of revenue from activities and the contribution by division is presented in the appendix to the press release.

ANALYSIS OF Q1 2021 REVENUES FROM ACTIVITIES

The restated presentation of revenues from activities is as follows:

Restated Revenue from activities
(in € thousand)

Q1 2021

Q1 2020

variation

variation %

Leasing revenue on owned equipment13,22913,426-197-1.5%
Ancillary services 2,7453,044-299-9.8%
Total leasing activity15,97416,470-496-3.0%
Sales of owned equipment7,0855,8721,21320.7%
Total sales of equipment7,0855,8721,21320.7%
Total of ownedactivity23,05922,3427173.2%
Syndication fees17232-215-92.7%
Management fees (a)897937-40-4.3%
Sales fees5912,128-1,537-72.2%
Total of management activity1,5053,297-1,792-54.4%
Other capital gains on disposals015-15-100.0%
Total Others015-15-100.0%
Total Restated Revenue from activities24,56425,654-1,090-4.2%

(a) The “leasing revenue from investor-owned equipment” is replaced by “management fees”.

The total restated revenues from activities in Q1 2021 amounted to €24.6 million, €25.4 million at constant scope and currency1, compared to €25.7 million at the same period in 2020.

Owned activities increased by €0.7 million, with an increase in the sales of owned equipment, particularly in modular buildings, offset by a decline in leasing activity, particularly in river barge freight activity.

Management activity decreased by €1.8 million, with a decline in sales volumes of investor-owned equipment, due to the seasonality of these sales and the shortage of containers.

ANALYSIS OF THE CONTRIBUTION BY DIVISION

Restated Revenue from activities
(in € thousand)

Q1 2021

Q1 2020

variation

variation %

Leasing revenue on owned equipment9,1529,199-47-0.5%
Ancillary services 1,8731,46241128.1%
Total leasing activity11,02510,6613643.4%
Sales of owned equipment320939-619-65.9%
Total sales of equipment320939-619-65.9%
Total of ownedactivity11,34511,600-255-2.2%
Syndication fees0214-214-100.0%
Management fees (a)4633739024.1%
Total of management activity463587-124-21.1%
Freightrailcars11,80812,187-379-3.1%
Leasing revenue on owned equipment1,6881,636523.2%
Ancillary services 6831,246-563-45.2%
Total leasing activity2,3712,882-511-17.7%
Sales of owned equipment410410.0%
Total sales of equipment410410.0%
Total of ownedactivity2,4122,882-470-16.3%
Management fees (a)6060.0%
Total of management activity6060.0%
River barges2,4182,882-464-16.1%
Leasing revenue on owned equipment2,3842,578-194-7.5%
Ancillary services 191285-94-33.0%
Total leasing activity2,5752,863-288-10.1%
Sales of owned equipment3,4804,064-584-14.4%
Total sales of equipment3,4804,064-584-14.4%
Total of ownedactivity6,0556,927-872-12.6%
Syndication fees1718-1-5.6%
Management fees (a)428564-136-24.1%
Sales fees5912,128-1,537-72.2%
Total of management activity1,0362,710-1,674-61.8%
Containers 7,0919,637-2,546-26.4%
Leasing revenue on owned equipment513-8-61.5%
Ancillary services -251-53-103.9%
Total leasing activity364-61-95.3%
Sales of owned equipment3,2448692,375273.3%
Total sales of equipment3,2448692,375273.3%
Total of ownedactivity3,2479332,314248.0%
Other capital gains on disposal 015-15-100.0%
Total Others015-15-100.0%
Miscellaneous and eliminations3,2479482,299242.5%
Total Restated Revenue from activities24,56425,654-1,090-4.2%

(a) The “leasing revenue from investor-owned equipment” is replaced by “management fees”.

The Freight Railcar activity fell slightly with lower sales but an increase in leasing activity:

  • Owned activity decreased with the decline in sales of owned equipment, partially offset by the increase in owned leasing activity.
  • Management activity declined with the lack of syndication in Q1 2021 while management fees increased following the syndications in 2020.

The River Barge activity decreased given the ancillary services that posted lower freight revenues over the period, but the average utilisation rate increased to 99.2%.

The Containers activity declined, with a conversion impact linked to the fall in the dollar and temporarily lower equipment sales. The average utilisation rate over the period was 99.6% vs. 95.7% in the first three months of 2020 reflecting the shortage of containers, resulting in lower availability of containers for sale. Management fees decreased with the fall in the dollar but also due to a lower volume of containers under management following the disposal of investor-owned equipment in 2020.

The Modular Buildings activity in Africa, which is presented under “Miscellaneous”, increased with major deliveries made during Q1 2021.

OUTLOOK

The effects of the health crisis remained limited in Q1 2021. The shortage of containers and its limited production resulted in a lower level of sales.

Touax is pursuing its strategy of investing in owned equipment and equipment under management in all its businesses with a significant order book in the process of delivery for more than €100 million.

Its three long-term equipment leasing businesses for sustainable transportation that respect the environment continue to be resilient and promising.

The outlook is favourable with an expected gradual increase in the restated revenue from activities. From a structural and medium to long-term perspective, Europe's “Green Deal” together with the various stimulus packages in the infrastructure sector announced by governments and the tendency towards outsourcing should continue to underpin investment in our asset classes.

UPCOMING EVENTS

  • 23 June 2021: Annual General Meeting
  • 22 September 2021 after market close: H1 2021 results

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 nearly €1.1 billion under management, TOUAX is a European leader in the leasing of this type of 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 more information: www.touax.com

Contacts:

TOUAXACTIFIN

Fabrice & Raphaël Walewski        Ghislaine Gasparetto

touax@touax.com        ggasparetto@actifin.fr

www.touax.com        Tel: +33 1 56 88 11 11

Tel: +33 1 46 96 18 00        

APPENDIX 1: Accounting presentation of revenue from activities

Summary accounting presentation

Revenue from activities
(in € thousand)

Q1 2021

Q1 2020

Leasing revenue on owned equipment13,22913,426
Leasing revenue on managed equipment 11,07213,681
Ancillary services 3,0844,579
Management fees on managed assets15781
Total leasing activity27,54231,767
Sales of owned equipment7,0855,872
Margins on sale of managed equipment5912,128
Total sales of equipment7,6768,000
Fees on syndication 17232
Other capital gains on disposals015
Total Others17247
Total Revenue fromactivities35,23540,014

Revenues from activities are mainly affected by the decrease in leasing revenue from investor-owned equipment whose impact is limited to the decrease in restated management fees.

Table for the transition from summary accounting presentation to restated presentation

Revenue from activities
(in € thousand)

Q1 2021

Restatement

Restated Q1 2021

Q1 2020

Restatement

Restated
Q1 2020

Leasing revenue on owned equipment13,22913,22913,42613,426
Ancillary services 3,084-3392,7454,579-1,5343,045
Total leasing activity16,313-33915,97418,005-1,53416,471
Sales of owned equipment7,0857,0855,8725,872
Total sales of equipment7,08507,0855,87205,872
Total of ownedactivity23,398-33923,05923,877-1,53422,343
Leasing revenue on managed equipment 11,072-11,072013,681-13,6810
Fees on syndications1717232232
Management fees on managed assets15774089781855936
Margins on sale of managed equipment5915912,1282,128
Total of managementactivity11,837-10,3321,50516,122-12,8253,297
Other capital gains on disposals001515
Total Others00015015
Total Restated Revenue from activities35,235-10,67124,56440,014-14,35925,655

APPENDIX 2: Accounting presentation of the contribution by division

Revenue from activitiesQ1 2021

Q1 2020

(in € thousand)
Leasing revenue on owned equipment9,1529,199
Leasing revenue on managed equipment 3,3573,483
Ancillary services2,0071,619
Management fees on managed assets12453
Total leasing activity 14,64014,354
Sales of owned equipment320939
Total sales of equipment 320939
Fees on syndication 0214
Total Others0214
Freight railcars14 96015,507
Leasing revenue on owned equipment1,6881,636
Ancillary services6831,246
Management fees on managed assets60
Total leasing activity2,3772,882
Sales of owned equipment410
Total sales of equipment 410
River barges2,4182,882
Leasing revenue on owned equipment2,3842,578
Leasing revenue on managed equipment7,71510,198
Ancillary services3961,663
Management fees on managed assets2728
Total leasing activity 10,52214,467
Sales of owned equipment3,4804,064
Margins on sales of managed equipment5912,128
Total sales of equipment 4,0716,192
Fees on syndication 1718
Total Others1718
Containers14,61020,677
Leasing revenue on owned equipment513
Ancillary services(2)51
Total leasing activity 364
Sales of owned equipment3,244869
Total sales of equipment 3,244869
Other capital gains on disposal015
Total Others015
Miscellaneous and eliminations3,247948
Total revenue from activities35,23540,014



1 Based on a comparable structure and average exchange rates in Q1 2020

Attachment

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Nokia Corporation: Repurchase of own shares on 28.03.202428.3.2024 21:30:00 CET | Press release

Nokia Corporation Stock Exchange Release 28 March 2024 at 22:30 EET Nokia Corporation: Repurchase of own shares on 28.03.2024 Espoo, Finland – On 28 March 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL467,1243.29CEUX--BATE--AQEU--TQEX--Total467,1243.29 * Rounded to two decimals On 25 January 2024, Nokia announced that its Board of Directors is initiating a share buyback program to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The first phase of the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 4 April 2023 started on 20 March 2024 and ends by 18 December 2024 with a maximum aggregate purchase price of EUR 300 million. Total cost of

Centessa Pharmaceuticals Reports Business Highlights and Financial Results for the Fourth Quarter and Full-Year 202328.3.2024 21:28:47 CET | Press release

Hemophilia Program: Ongoing registrational PRESent-2 and PRESent-3 studies of SerpinPC for the treatment of hemophilia B; PRESent-2 advancing toward interim analysis planned in 2024Orexin Agonist Program: Clinical proof-of-concept data for ORX750 in sleep-deprived healthy volunteers planned in 2024 LockBody® Technology Platform: Ongoing Phase 1/2a study of LB101 (PD-L1xCD47)for the treatment of solid tumors BOSTON and LONDON, March 28, 2024 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc (Nasdaq: CNTA), a clinical-stage pharmaceutical company, today reported recent business highlights and financial results for the fourth quarter and full-year ended December 31, 2023. “This is an exciting and pivotal time for Centessa,” said Saurabh Saha MD PhD, Chief Executive Officer of Centessa. “We are laser focused on executing the PRESent registrational studies for SerpinPC, a potential first-in-class subcutaneously administered therapy with a differentiated safety profile for individuals with he

Telesis Bio Reports Fourth Quarter and Full Year 2023 Financial Results28.3.2024 21:05:00 CET | Press release

SAN DIEGO, March 28, 2024 (GLOBE NEWSWIRE) -- Telesis Bio Inc. (NASDAQ: TBIO), a leading provider of RNA and DNA solutions enabling researchers to accelerate therapeutic discovery through advanced, flexible, and rapid automated synthesis in their own lab, today announced financial results for the fourth quarter and year ended December 31, 2023. Results highlight strong BioXp® kit sales, expanding gross margin and reduced operating expense. In discussing the results, Todd R. Nelson Ph.D., Founder and CEO of Telesis Bio said, “I’m pleased with our operating execution in a challenging macro environment during 2023. Our company experienced record BioXp kits sales and expanding gross margin against the backdrop of significant cost cutting initiatives undertaken to align our operating structure with our strategic vision for growth. We believe that our rapid and flexible mRNA synthesis kits are game-changing and unlock tremendous value by providing customers control over their screening and d

Galapagos publishes 2023 annual report and announces Annual and Extraordinary Shareholders’ Meetings28.3.2024 21:01:00 CET | Press release

Publication of annual report for financial year 2023Annual Shareholders’ Meeting resolutions include approval of revised Remuneration Policy and (re)appointment of Board membersExtraordinary Shareholders’ Meeting resolutions include approval of renewal of authorized capital and issuance of Gilead Subsequent Warrant B Mechelen, Belgium; 28 March 2024, 21.01 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) today publishes its annual report for the financial year 2023 and announces its Annual and Extraordinary Shareholders’ Meetings (AGM and EGM) to be held sequentially on Tuesday, 30 April 2024 at 2:00 pm (CET) and 3:00 pm (CET), respectively, at the registered office of the Company. The annual report for the financial year 2023, including a review of figures and performance, is available online at https://www.glpg.com/financial-reports and can also be downloaded as PDF. Our annual 2023 Form 20-F filing with the SEC is available at www.sec.gov/edgar. Galapagos has the

McWhorter Foundation Preparing Legal Battle Against J.P. Morgan Over IPO Discrimination and LBO Biases28.3.2024 19:28:47 CET | Press release

PALM BEACH, Fla., March 28, 2024 (GLOBE NEWSWIRE) -- McWhorter Foundation is poised to launch a groundbreaking legal battle against financial giant J.P. Morgan. With a focus on challenging discriminatory practices in leveraged buyouts (LBOs) and initial public offerings (IPOs), The McWhorter Foundation aims to break down barriers and advocate for equal access to capital markets. Exposing Inequities in IPOs: Recent analyses have highlighted disparities in IPO access, with minority-owned businesses facing systemic hurdles in accessing public markets. McWhorter's legal challenge will illuminate these inequities, compelling J.P. Morgan to address its role in perpetuating barriers to entry for underrepresented entrepreneurs. Leveraging Data for Change: Backed by comprehensive data and extensive research, McWhorter's legal team will present compelling evidence of discrimination in J.P. Morgan's IPO practices. By highlighting patterns of exclusion and unequal treatment, McWhorter Foundation s

HiddenA line styled icon from Orion Icon Library.Eye