Canlı Haber • Jul 04
Touax Secures $115 Million Refinancing to Expand Container Investment Capacity Touax Container renewed its asset-backed facilities for the Containers division, securing a US$115 million refinancing over four years, with an additional US$20 million accordion option available to fund further growth.
The new facilities are intended to refinance existing assets and support new container investments, with Touax citing expectations for containerized traffic growth in 2026 and a potential recovery in leasing demand in the second half of the year.
Touax shares trade at €4.16, with the stock up 11.2% over the past 30 days.
This refinancing gives Touax more visibility on funding for its container fleet and flexibility to add assets if market conditions develop as the company expects. It also means investors should watch how effectively that extra balance sheet capacity is deployed and what it does to returns and funding costs over time. New Risk • Jun 30
New major risk - Revenue and earnings growth Earnings have declined by 33% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 33% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (€29.0m market cap, or US$33.1m). Upcoming Dividend • Jun 25
Upcoming dividend of €0.10 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 06 July 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of French dividend payers (5.4%). Lower than average of industry peers (3.4%). Duyuru • May 07
Touax SCA, Annual General Meeting, Jun 10, 2026 Touax SCA, Annual General Meeting, Jun 10, 2026. Location: paris France New Risk • Apr 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (€28.3m market cap, or US$33.1m). Declared Dividend • Mar 26
Dividend reduced to €0.10 Dividend of €0.10 is 33% lower than last year. Ex-date: 2nd July 2026 Payment date: 6th July 2026 Dividend yield will be 2.6%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has remained flat since 3 years ago. However, payments have been volatile during that time. EPS is expected to grow by 170% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Mar 20
Touax SCA Proposes a Dividend for 2025 Touax SCA at its Annual Shareholders' Meeting to be held on 10 June 2026, the managing partners will propose a dividend of €0.10 per share for 2025. Reported Earnings • Mar 19
Full year 2025 earnings: Revenues miss analyst expectations Full year 2025 results: Revenue: €156.1m (down 21% from FY 2024). Net income: €1.70m (down 30% from FY 2024). Profit margin: 1.1% (down from 1.2% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Infrastructure industry in Europe. Duyuru • Dec 01
Touax SCA to Report First Half, 2026 Results on Sep 16, 2026 Touax SCA announced that they will report first half, 2026 results on Sep 16, 2026 Reported Earnings • Sep 24
First half 2025 earnings released: EPS: €0.36 (vs €0.33 in 1H 2024) First half 2025 results: EPS: €0.36 (up from €0.33 in 1H 2024). Revenue: €83.7m (down 14% from 1H 2024). Net income: €2.50m (up 7.3% from 1H 2024). Profit margin: 3.0% (up from 2.4% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Infrastructure industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Duyuru • Sep 19
Touax SCA to Report Fiscal Year 2025 Results on Mar 18, 2026 Touax SCA announced that they will report fiscal year 2025 results on Mar 18, 2026 Major Estimate Revision • Aug 06
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.81 to €0.62. Revenue forecast unchanged from €205.0m at last update. Net income forecast to grow 78% next year vs 4.6% growth forecast for Infrastructure industry in France. Consensus price target down from €10.70 to €9.10. Share price was steady at €5.52 over the past week. Upcoming Dividend • Jun 20
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 01 July 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of French dividend payers (5.4%). In line with average of industry peers (3.2%). Duyuru • May 08
Touax SCA, Annual General Meeting, Jun 12, 2025 Touax SCA, Annual General Meeting, Jun 12, 2025. Location: 40 passage de l arche, puteaux France Major Estimate Revision • Apr 16
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.98 to €0.808. Revenue forecast unchanged from €205.0m at last update. Net income forecast to grow 135% next year vs 4.7% growth forecast for Infrastructure industry in France. Consensus price target of €10.70 unchanged from last update. Share price rose 3.8% to €4.10 over the past week. Major Estimate Revision • Apr 15
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.98 to €0.808. Revenue forecast unchanged from €205.0m at last update. Net income forecast to grow 186% next year vs 4.7% growth forecast for Infrastructure industry in France. Consensus price target of €10.70 unchanged from last update. Share price rose 3.5% to €4.12 over the past week. New Risk • Apr 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.2% Last year net profit margin: 1.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (€28.2m market cap, or US$30.8m). Declared Dividend • Apr 02
Dividend of €0.15 announced Shareholders will receive a dividend of €0.15. Ex-date: 27th June 2025 Payment date: 1st July 2025 Dividend yield will be 3.6%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (5% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 102% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: €0.56. Revenue: €164.9m (down 16% from FY 2023). Net income: €2.40m (down 34% from FY 2023). Profit margin: 1.5% (down from 1.8% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Infrastructure industry in Europe. Duyuru • Nov 18
Touax SCA to Report First Half, 2025 Results on Sep 18, 2025 Touax SCA announced that they will report first half, 2025 results on Sep 18, 2025 Major Estimate Revision • Nov 17
Consensus EPS estimates fall by 43% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €202.4m to €200.0m. EPS estimate also fell from €1.13 per share to €0.646 per share. Net income forecast to grow 544% next year vs 12% growth forecast for Infrastructure industry in France. Consensus price target down from €12.80 to €10.70. Share price was steady at €4.46 over the past week. Price Target Changed • Nov 16
Price target decreased by 21% to €10.70 Down from €13.50, the current price target is provided by 1 analyst. New target price is 140% above last closing price of €4.46. Stock is down 18% over the past year. The company is forecast to post earnings per share of €0.65 for next year compared to €0.52 last year. Duyuru • Nov 15
Touax SCA to Report Fiscal Year 2024 Results on Mar 20, 2025 Touax SCA announced that they will report fiscal year 2024 results on Mar 20, 2025 Reported Earnings • Sep 22
First half 2024 earnings released: EPS: €0.33 (vs €0.72 in 1H 2023) First half 2024 results: EPS: €0.33 (down from €0.72 in 1H 2023). Revenue: €80.4m (down 19% from 1H 2023). Net income: €2.30m (down 55% from 1H 2023). Profit margin: 2.9% (down from 5.1% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Infrastructure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Sep 18
Consensus EPS estimates increase by 33% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.848 to €1.13. Revenue forecast unchanged at €202.4m. Net income forecast to grow 119% next year vs 6.9% growth forecast for Infrastructure industry in France. Consensus price target of €12.80 unchanged from last update. Share price rose 11% to €5.08 over the past week. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €5.52, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Infrastructure industry in Europe. Total loss to shareholders of 34% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of €0.12 per share Eligible shareholders must have bought the stock before 08 July 2024. Payment date: 10 July 2024. Trailing yield: 3.5%. Lower than top quartile of French dividend payers (5.6%). In line with average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €3.45, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 14x in the Infrastructure industry in Europe. Total loss to shareholders of 59% over the past three years. Major Estimate Revision • May 17
Consensus EPS estimates fall by 25% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €1.13 to €0.85. Revenue forecast unchanged from €202.4m at last update. Net income forecast to grow 64% next year vs 6.6% growth forecast for Infrastructure industry in France. Consensus price target of €12.80 unchanged from last update. Share price was steady at €4.85 over the past week. Declared Dividend • May 05
Dividend of €0.12 announced Shareholders will receive a dividend of €0.12. Ex-date: 8th July 2024 Payment date: 10th July 2024 Dividend yield will be 2.5%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 97% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 24
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: €0.52 (down from €1.07 in FY 2022). Revenue: €157.2m (down 25% from FY 2022). Net income: €3.60m (down 52% from FY 2022). Profit margin: 2.3% (down from 3.5% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 43%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Infrastructure industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €5.82, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 16x in the Infrastructure industry in Europe. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €5.90, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 15x in the Infrastructure industry in Europe. Total loss to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.72, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the Infrastructure industry in Europe. Total loss to shareholders of 25% over the past three years. Reported Earnings • Sep 15
First half 2023 earnings released: EPS: €0.72 (vs €1.08 in 1H 2022) First half 2023 results: EPS: €0.72 (down from €1.08 in 1H 2022). Revenue: €79.1m (down 23% from 1H 2022). Net income: €5.10m (down 33% from 1H 2022). Profit margin: 6.4% (down from 7.3% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.4% growth forecast for the Infrastructure industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 03
Upcoming dividend of €0.10 per share at 1.5% yield Eligible shareholders must have bought the stock before 10 July 2023. Payment date: 12 July 2023. Payout ratio is a comfortable 9.4% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of French dividend payers (5.2%). Lower than average of industry peers (3.2%). Major Estimate Revision • May 11
Consensus EPS estimates fall by 14%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €177.7m to €189.1m. EPS estimate fell from €1.07 to €0.911 per share. Net income forecast to shrink 14% next year vs 16% growth forecast for Infrastructure industry in France . Consensus price target down from €13.50 to €12.60. Share price was steady at €7.32 over the past week. Reported Earnings • Mar 24
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: €1.07 (down from €1.79 in FY 2021). Revenue: €161.5m (down 3.8% from FY 2021). Net income: €7.50m (down 40% from FY 2021). Profit margin: 4.6% (down from 7.5% in FY 2021). Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Infrastructure industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €172.3m to €207.2m. EPS estimate reaffirmed at €1.82. Net income forecast to shrink 44% next year vs 5.5% decline forecast for Infrastructure industry in France. Consensus price target broadly unchanged at €13.50. Share price rose 2.2% to €8.79 over the past week. Major Estimate Revision • Jul 01
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €168.1m to €172.3m. EPS estimate increased from €1.35 to €1.64 per share. Net income forecast to shrink 8.5% next year vs 7.4% growth forecast for Infrastructure industry in France . Consensus price target down from €13.40 to €13.00. Share price was steady at €8.08 over the past week. Major Estimate Revision • May 14
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €161.6m to €168.1m. EPS estimate increased from €1.17 to €1.35 per share. Net income forecast to shrink 25% next year vs 4.5% growth forecast for Infrastructure industry in France . Consensus price target down from €13.70 to €13.40. Share price rose 3.3% to €8.11 over the past week. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 15% share price gain to €7.48, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Infrastructure industry in Europe. Total returns to shareholders of 77% over the past three years. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 16% share price gain to €7.84, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Infrastructure industry in Europe. Total returns to shareholders of 61% over the past three years. Major Estimate Revision • Dec 11
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from €150.5m to €113.9m. EPS estimate increased from €0.81 to €1.16 per share. Net income forecast to grow 48% next year vs 13% growth forecast for Infrastructure industry in France. Consensus price target up from €12.90 to €13.30. Share price fell 8.2% to €6.98 over the past week. Price Target Changed • Dec 10
Price target increased to €13.30 Up from €12.40, the current price target is provided by 1 analyst. New target price is 91% above last closing price of €6.98. Stock is down 17% over the past year. The company is forecast to post earnings per share of €0.81 for next year compared to €0.86 last year. Price Target Changed • Sep 28
Price target increased to €12.90 Up from €12.00, the current price target is provided by 1 analyst. New target price is 57% above last closing price of €8.20. Stock is up 27% over the past year. Reported Earnings • Sep 26
First half 2021 earnings released: EPS €0.28 (vs €0.36 in 1H 2020) The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2021 results: Revenue: €52.4m (down 36% from 1H 2020). Net income: €2.00m (down 21% from 1H 2020). Profit margin: 3.8% (up from 3.1% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 25
Full year 2020 earnings released: EPS €0.86 (vs €0.28 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €163.4m (down 3.1% from FY 2019). Net income: €5.99m (up €7.95m from FY 2019). Profit margin: 3.7% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 01
Consensus EPS estimates fall to €0.81 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €157.5m to €150.4m. EPS estimate also fell from €1.20 to €0.81. Net income forecast to shrink 5.9% next year vs 13% growth forecast for Infrastructure industry in France . Consensus price target up from €12.00 to €12.40. Share price fell 4.2% to €9.82 over the past week. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS €0.85 (vs €0.28 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €163.4m (down 3.1% from FY 2019). Net income: €6.00m (up €7.96m from FY 2019). Profit margin: 3.7% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improved over the past week After last week's 18% share price gain to €9.62, the stock is trading at a trailing P/E ratio of 26.1x, up from the previous P/E ratio of 22x. This compares to an average P/E of 20x in the Infrastructure industry in Europe. Total return to shareholders over the past three years is a loss of 16%. Is New 90 Day High Low • Feb 06
New 90-day high: €9.62 The company is up 59% from its price of €6.04 on 06 November 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: €9.24 The company is up 47% from its price of €6.30 on 06 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 17% share price gain to €7.98, the stock is trading at a trailing P/E ratio of 21.7x, up from the previous P/E ratio of 18.5x. This compares to an average P/E of 20x in the Infrastructure industry in Europe. Total return to shareholders over the past three years is a loss of 18%. Major Estimate Revision • Nov 17
Analysts increase EPS estimates to €0.41 The 2020 consensus revenue estimate increased from €158.6m to €165.7m. The earnings per share estimate also received an upgrade from €0.32 to €0.41 for the same period. Net income is expected to grow by 116% next year compared to 4.5% decline forecast for the Infrastructure industry in France. The consensus price target of €10.00 was unchanged from the last update. Share price is up 15% to €7.42 over the past week. Price Target Changed • Nov 17
Price target raised to €10.00 Up from €9.00, the current price target is provided by 1 analyst. The new target price is 35% above the current share price of €7.42. As of last close, the stock is up 42% over the past year. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 15% share price gain to €7.42, the stock is trading at a trailing P/E ratio of 20.1x, up from the previous P/E ratio of 17.5x. This compares to an average P/E of 20x in the Infrastructure industry in Europe. Total return to shareholders over the past three years is a loss of 23%. Duyuru • Nov 14
Touax SCA to Report Fiscal Year 2020 Results on Mar 24, 2021 Touax SCA announced that they will report fiscal year 2020 results on Mar 24, 2021 Is New 90 Day High Low • Nov 13
New 90-day high: €6.80 The company is up 2.0% from its price of €6.68 on 14 August 2020. The French market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 16% over the same period.