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03 March 2021 The on-line newspaper devoted to the world of transports 10:45 GMT+1



February 18, 2021

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Original news
Net improvement in Textainer's financial results in the last quarter of 2020

Record revenue of $161.5 million

In the last quarter of 2020, the rental company textainer intermodal containers, as well as the other leading companies in the same sector, has recorded a significant increase in financial results. Textainer filed the period with record revenues of $161.5 million, with a increase of +6.6% over the period October-December 2019, a new historical peak that was determined by the new record revenues generated by the management of the fleet of containers owned by the company that amounted to $146.1 million (+14.8%), while revenues from the management of containers owned by third parties have been to $15.4 million (-36.6%). As volume grows business affairs also contributed to the increase in the size of the fleet of the Textainer which at 31 December last was equal to almost 3.8 million teu containers, +7.8% more than 31 December 2019.

In the fourth quarter of 2020, Textainer operating income of $100.4 million (+7.0%), a record EBITDA of $136.8 million (+20.9%), an operating profit of $71.8 million million dollars (+11.2%) and a net profit of 45.0 million dollars (+54.3%).

Expressing considerable satisfaction at the marked improvement in the of corporate financial performance, the chairman and Ceo of Textainer, Olivier Ghesquiere, underlined that the company has "reacted quickly to the significant rebound in load volumes started last July investing massively and in a timely manner in new containers. During the second half of 2020 - he specified - we added a total of $890 million of containers to the our fleet, of which 470 million during the fourth quarter, which are currently almost all for rent. In addition, we have secure a production of new containers for over 925 million dollars that will be delivered during the first six months of the 2021. Although the prices of the new containers are at historically high - ghesquiere pointed out - the average price of our next orders for 2021 is well below the current levels and are almost all already booked for rentals with an average duration of more than 10 years. In the coming years, years - pointed out the textainer executive - will ensure stable cash flow and additional profits.'

In the full 2020 financial year, Textainer recorded revenues of $600.9 million, down -3.0% the previous year, of which 538.4 million were from the management of owned containers (+4.0%) and 62.4 million third-party container management (-38.7%). Operating costs are amounted to $415.3 million (-4.2%), EBITDA at $482.8 million million dollars (+4.0%), operating profit at 221.6 million dollars (-0.5%) and net profit at $73./million (+30.3%).


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