Independent journal on economy and transport policy
12:47 GMT+1
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In the third trimester the profit clearly of Textainer is dropped of -20,8%
Brewer: it has been necessary to set aside reserves for uncollectable credits and to record a relative reduction of irrecoverable value to container
November 6, 2013
In the third trimester of this year Textainer Group Holdings Ltd., company that - with an intermodal fleet of container pairs almost three million teu - is the chartering society container leader of the world-wide market, has recorded a bending of having clearly archived item the economic result the period with a profit for the shareholders of 40,1 million dollars, down of the -20,8% regarding 50,7 million dollars in the period July-september of 2012. The revenues have grown of 8.5% to 132,6 million dollars and the EBITDA is increased of 9.3% to 106,4 million dollars.
"Our profit clearly - it has explained the president and managing director of Textainer, Philip K. Brewer - is influenced negatively by the necessity to set aside reserves for some uncollectable credits relatively and by a reduction of irrecoverable book value to some container". "Historically - it has added - when verification the insolvency of a lessee we recover beyond 90% of our containers, of which about 80% he returns within six months from the start of the recovery procedure and the remaining 10-20% is recovered in next the 6-12 months. Currently, for some little ones insolvent lessees, we consider that the recoveries can not follow this outline since this container is in areas of China where often the recovery is not convenient economically. In the third trimester - it has specified Brewer - we have recorded impairment pairs to 4,7 million dollars for this container. This reduction of the value regards a limited group of small companies of navigation that they less represent of 0.5% of our fleet. Many of these lessees have been acquired through precedence acquisitions of fleets. We do not attend analogous losses from some our greater lessee".
In the first nine months of the 2013 Textainer it has totaled a profit clearly of 137,3 million dollars, with a contraction of the -6,2% regarding the period January-september last year. The volume of transactions is increased of 8.8% to 391,5 million dollars and the EBITDA is gone up of 14.5% to 321,2 million dollars.
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In the third trimester of this year Textainer Group Holdings Ltd., company that - with an intermodal fleet of container pairs almost three million teu - is the chartering society container leader of the world-wide market, has recorded a bending of having clearly archived item the economic result the period with a profit for the shareholders of 40,1 million dollars, down of the -20,8% regarding 50,7 million dollars in the period July-september of 2012. The revenues have grown of 8.5% to 132,6 million dollars and the EBITDA is increased of 9.3% to 106,4 million dollars.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
