Touax SCA Reports Consolidated Earnings Results for the Six Months Ended June 30, 2017; Provides Earnings Guidance for the Year 2017
Touax SCA reported consolidated earnings results for the six months ended June 30, 2017. For the six months, the company reported revenue of 122.5 million compared to 111.5 million a year ago. EBITDA was 13.0 million compared to 11.2 million a year ago. This rise is mainly due to the improved Freight Railcar business with the full integration of an asset company and the increase in the syndication volume. Operating income was 5.3 million compared to 2.8 million a year ago. Profit before tax was 0.3 million compared to loss of 1.1 million a year ago. Consolidated net loss (group's share) was 13.9 million or 1.99 per share compared to 4.4 million or 0.74 per share a year ago. Operating cash flow of the retained operations were 33.4 million, mainly driven by growth in leasing activity and railcar syndication. EBITDAR was 42.8 million against 40.6 million a year ago.
TOUAX confirms an operating profit for the year 2017. Debt is expected to decline in 2017 with the sale of modular buildings activities.