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Thielert AG

Thielert: Financial Results published

- Sales in 2006 of EUR 59.9 million (up 59.5 percent) -

EBT in 2006
of EUR 7.8 million - CEO Frank Thielert: "We expect positive 
developments in profitability in 2007"
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
balance
Hamburg - The executive board and the
supervisory board of Thielert Aktiengesellschaft published the final 
results for the business year 2006 today in coordination with the 
auditor BDO Deutsche Warentreuhand AG. The figures published on 13 
April 2007 have been confirmed in general. Thielert AG posted an 
increase in sales of 59.5 percent to EUR 59.9 million. The operating 
profit (EBIT) is presently at EUR 9.3 million and thus 29.6 percent 
above that of the year before. The EBT fell by 14.6 percent to EUR 
7.8 million. The net profit was EUR 5.2 million (minus 31.8 percent).
BDO has finished the audit at Thielert´s site and has confirmed the 
final result. Now only the audit report has to be finalized and the 
presentation for the supervisory board has to be done.
The drop in earnings can be attributed to the complete discounting of
old accounts receivable of EUR 3.05 million, which were the object of
some public criticism. Moreover, the sales revenues from development 
services in combined development and series delivery contracts is no 
longer being attributed to net income.
Divisional reporting
In 2006, the Aircraft Engines Division made a contribution of EUR 
31.5 million to overall earnings, an increase of 41.6 percent 
compared to the previous year. The earnings before interest, tax, 
depreciation and amortisation (EBITDA) fell slightly in the reporting
year by 1.8 percent to EUR 9.4 million. The operating profit (EBIT) 
in this segment was EUR 7.1 million and thus 8.9 percent below that 
of the previous value.
In the Technology & Prototyping Division, sales increased by 85.4 
percent, to EUR 28.5 million. This is where the acquisition of the 
new subsidiary Superior Air Parts, Inc. made its presence felt. The 
EBITDA was EUR 3.9  million, 40.5 percent less than the previous 
year. The EBIT was EUR 2.2 million (minus 59,6 percent).
Income position of Thielert AG as per IFRS
Sales 2006: 59.9 Mio. Euro
Sales 2005: 37.6 Mio. euro
Change: +59.5 percent
Gross earnings from  Sales 2006: 33.9 Mio. Euro
Gross earnings from  Sales 2005: 23.4 Mio. Euro
Change: +45.0 percent
EBITDA 2006: 13.3 Mio. Euro
EBITDA 2005: 16.1 Mio. Euro
Change: -17.6 percent
EBIT 2006: 9.3 Mio. Euro
EBIT 2005: 13.1 Mio. Euro
Change: -29.6 percent
EBT 2006: 7.8 Mio. Euro
EBT 2005: 9.1 Mio. Euro
Change: -14.6 percent
Net Profit 2006: 5.2 Mio. Euro
Net Profit 2005: 7.7 Mio. Euro
Change: -31.8 percent
Segment Aircraft Engines
Sales 2006: 31.5 Mio. Euro
Sales 2005: 22.2 Mio. Euro
Change: +41.6 percent
Gross earnings from  Sales 2006: 20.8 Mio. Euro
Gross earnings from  Sales 2005: 13.8 Mio. Euro
Change: +50.7 percent
EBITDA 2006: 9.4 Mio. Euro
EBITDA 2005: 9.5 Mio. Euro
Change: -1.8 percent
EBIT 2006: 7.1 Mio. Euro
EBIT 2005: 7.8 Mio. Euro
Change: -8.9 percent
Segment Technology & Prototyping
Sales 2006: 28.5 Mio. Euro
Sales 2005: 15.4 Mio. Euro
Change: +85.4 percent
Gross earnings from  Sales 2006: 12.8 Mio. Euro
Gross earnings from  Sales 2005: 9.6 Mio. Euro
Change: +33.3 percent
EBITDA 2006: 3.9 Mio. Euro
EBITDA 2005: 6.6 Mio. Euro
Change: -40.5 percent
EBIT 2006: 2.2 Mio. Euro
EBIT 2005: 5.4 Mio. Euro
Change: -59.6 percent
In comparison to sales growth of 59.5 percent the growth of workforce
size even including the personnel of Superior Air Parts was moderate.
In the end of 2006, Thielert employed 320 employees, 30 percent more 
than in the previous year.
Outlook
The foundation for solid growth in the coming years has been laid in 
the business year 2006. Production capacity has been significantly 
extended and rationalized at all company locations. With the 
CENTURION 2.0 and 4.0, two highly-developed engines are in series 
production. Over 1800 model and installation licenses mean that 60 
percent of the total market (replacement engines and equipment of new
aircraft) can now be certified. Right now over 40 percent of 
currently produced new aircraft are covered with certifications.
"We have every reason to look with confidence into the future, as we 
now have the customer base for further growth," said Frank Thielert, 
CEO and founder of Thielert AG. Thielert is projecting sustained 
growth in sales of over 50 percent annually. Thielert can also 
discern a positive trend in the profit situation for the ongoing 
business year.
end of announcement                               euro adhoc 30.04.2007 23:57:00

Further inquiry note:

Sebastian Wentzler
Head of Corporate Communication
Telefon: +49(0)40-696950-35
E-Mail: s.wentzler@thielert.com

Branche: Machine Manufacturing
ISIN: DE0006052079
WKN: 605207
Index: SDAX, CDAX, Prime All Share, Classic All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade

Original content of: Thielert AG, transmitted by news aktuell

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