Touax SCA reported unaudited consolidated revenue results for the third quarter and nine months to Sep. 2015. For the quarter, consolidated revenues were EUR 77.31 million against EUR 98.68 million for the same period of last year.

For the year to date, the company reported consolidated total revenue dropped 8% to EUR 244.8 million against EUR 266.03 million for the same period of last year. The decrease is because of decline in syndications in the Shipping Containers business (sales of containers to investors). Syndications activity is less recurring than the leasing business and is therefore subject to variations from one quarter to another. On a constant currency basis, revenue fell by 16.3%, mainly due to the appreciation of the dollar against the Euro.

The group announced that it is continuing to implement a growth strategy for its operating cash flow with a stabilization of its own assets, growth of its assets under third-party asset management and improved utilization rates. TOUAX anticipates a positive operating income in 2016.