PRESSEPORTAL Presseportal Logo
All Stories
Subscribe to Thielert AG

15.08.2007 – 09:21

Thielert AG

Thielert AG continues to grow

Hamburg (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
Thielert AG continued its path of growth in
the second quarter of 2007. After an upbeat quarter in 2007, marked 
by conversions of production, the company recorded an increase in 
sales and earnings. As at 30 June, the group achieved sales of EUR 
41.2 million; thus exceeding the previous year's figure of EUR 23.7 
million by 74 per cent. Considerable growth was especially apparent 
in the Aircraft Engines segment. With a surge of 108 per cent to EUR 
23.0 million (previous year's figure: EUR 11.0 million), this 
division's share of group sales rose to 56 per cent (previous year's 
figure: 47). The Technology & Prototyping segment likewise registered
growth. Sales rose in this division by 44 per cent to EUR 18.3 
million (previous year's figure: EUR 12.7 million). The performance 
figures, EBITDA, EBIT and EBT increased in the first six months as 
planned. EBITDA amounted to EUR 11.6 million (previous year's figure:
EUR 6.8 million); EBIT increased by 89 per cent on the previous year'
s figure of EUR 4.8 million, and stood at EUR 9.1 million. EBT was 
EUR 7.6 million (previous year's figure: EUR 4.3 million). The group 
thus recorded a net profit of EUR 4.7 million (previous year's 
figure: EUR 2.7 million). The company strengthened its sales target 
of approximately EUR 95 million for the current fiscal year.
The company's financial position also grew in a positive direction. 
The company's liquidity requirements for investments to be financed 
from operating activities fell from EUR 24.1 million in the first six
months of the previous year to EUR 11.2 million in the first half of 
2007. Growth, the development of new aircraft manufacturers as 
initial suppliers, as well as high start-up financing requirements 
for the series production of the Centurion 2.0 and Centurion 4.0 
continue to influence the internal financing ability of the company. 
Nevertheless, a lasting positive trend in cash flow can be seen, 
which will continue to improve in the second half of the year on its 
scheduled course.
In the second quarter of 2007, Thielert AG notably pushed the sale of
its current core product, the Centurion 2.0 kerosene piston aircraft 
engine. After being granted installation certification on 13 April 
2007, the Centurion 4.0 increased its contribution to the company's 
positive growth.
"The most significant event in the second quarter was arguably the 
finalisation of our cooperation agreement with Cessna," CEO Frank 
Thielert said. The Cessna Aircraft Company is the leading aeroplane 
manufacturer for General Aviation. On 27 June 2007, Cessna announced 
the finalisation of a contract with Thielert Aircraft Engines GmbH, a
100-per-cent subsidiary of Thielert AG; which contains the 
cooperation for future use of kerosene piston aircraft engines. "We 
anticipate an increase in sales of Centurion engines over the next 
few years resulting from this contract," according to Thielert. 
Further details on the cooperation with Cessna will be made public by
the Cessna Aircraft Company in the course of 2007.
"After a successful first half in 2007, we anticipate sustained and 
positive growth in all business segments for the second half of the 
fiscal year, as well. We are still aspiring to reach a growth in 
sales of over 50 per cent with healthy profits. This course of growth
shall continue as planned", said Frank Thielert.
The complete interim financial report is available on the internet 
end of announcement                               euro adhoc 15.08.2007 09:20:27

Further inquiry note:

Sebastian Wentzler
Head of Corporate Communication
Telefon: +49(37204) 6961270

Branche: Machine Manufacturing
ISIN: DE0006052079
WKN: 605207
Index: SDAX, CDAX, Prime All Share, Classic All Share
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

Original content of: Thielert AG, transmitted by news aktuell

More stories: Thielert AG
More stories: Thielert AG