Touax: share price declines after lackluster half-year results

(CercleFinance.com) - Touax, a specialist in the rental of transport equipment, lost 5% on Thursday morning on the Paris Bourse following a lackluster half-yearly publication, marked by relatively stable operating profitability.


The group, which rents out freight wagons, river barges and containers, last night reported a slight increase in business for the first six months of the year, with sales up by 1.6% to 80.4 million euros.

Its Ebitda, i.e. operating income before depreciation, amortization and impairment, rose by 3.9% to 30 million euros.

However, operating income recurring fell by 3% to 14.2 million euros, as did net income, Group share, which stood at 3.8 million euros, compared with 5.1 million euros a year earlier.

Touax, which does not provide an outlook, indicates that it plans to continue adopting a "cautious" investment policy in the short term in the face of current economic challenges.

The group, which cites uneven growth in different geographical areas and significant geopolitical risks, expects international trade volumes to remain at a "satisfactory" level.

Its average utilization rates over the first six months of the year (86.4% for freight wagons, 96.3% for river barges and 96.9% for containers) demonstrate the resilience of the economies and markets in which it operates.

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