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25 April 2019 The on-line newspaper devoted to the world of transports 02:59 GMT+2

November 5, 2018

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Original news
The accounts of Textainer still suffer of the effects of the container given rental to customers who are failed

Ghesquiere: we consider that the impact of this default is for the great part to our shoulders

The recorded economic results in the third trimester of this year from the intermodal charter of container Textainer are characterized by a level record of the revenues and by values of the inferior profits to those of the trimesters precedence to root cause of the effects on the performances financial institutions of the society of the provoked long-wave from the failures of two its Asian customers, in particular of that of the company of South Korean navigation Hanjin Shipping happened at the beginning of 2017(on 17 February 2017).

In the period July-september of the 2018 revenues of Textainer they have reached the quarterly maximum peak of 149,4 million dollars, with an increment of +19.0% on the same period of the 2017 and with a rise of +3.4% on the previous quarterly record established in the period July-september of 2014. The single revenues deriving from the activity of chartering of container are piled to 129,8 million dollars, in increase of +15.7% on the third trimester last year.

Important increase (+39.3%) of the costs that have attested to 112,3 million dollars, increment generated essentially from burdens determined from expenses for the recovery of container and the devaluation or the zero setting of the container value that were rental near the bankrupt companies. The operating profit has turned out of 37,2 million dollars (- 17.4%) and the profit clearly attributable to the shareholders to 1,9 million dollars (- 89.6%).

Specifying that excluding the impact of the consequent costs to the failure of the customers the clearly rectified profit of the third trimester of 2018 turns out of 22,1 million dollars, the president and managing director of Textainer, Olivier Ghesquiere, has specified that now the society "has recovered the majority of the container that was worth it to recover and - it has emphasized - we consider that the impact of this default is for the great part to our shoulders. Moreover - it has added - during the not exploitable trimester we have decided commercially to unravel us of container with a consequent devaluation of the value".

Textainer has closed the first nine months of 2018 with revenues pairs to 423,4 million dollars, with a progression of +17.1% on the correspondent period last year, of which 371,6 million dollars generated from the activity of chartering of the fleet of containers (+13.1%). The operating profit has been pairs to 138,1 million dollars (+40.1%) and the profit clearly to 38,1 million dollars (+1,670, 5%).

Al 30 last September the consistency of the fleet of the society was pairs to beyond 3,4 million teu, advanced of +7.8% regarding on September 30, 2017.

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