Thielert AG grows in first quarter 2007
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finances/Interim Report I
The Thielert AG follows continuously the path of growth in the first quarter of 2006 and shows increasing sales and profits. In the first three months of the 2007 fiscal year, the group generated revenue of 16.1 M euros and, at that level, exceeded the revenue of the same quarter of the prior year by 10.0 M euros or 60 percent. In the "Aircraft Engines" segment, revenues rose by 51 percent to 9.6 (6.4) M euros. The "Technology & Prototyping" business area also experienced strong growth recording an increase of 75 percent to 6.4 (3.7) M euros, thus increasing this segment´s share in group revenues to 40 (37) percent.
With EBITDA of 3.4 (2.8) M euros, Thielert was able to increase the operative performance by 21 percent compared with the first quarter of 2006. Earnings before interest and tax (EBIT) amounted to 2.2 M euros and, at that level, were up 13 percent on the same period of the prior year (1.9 M euros). Business performance resulted in earnings before tax of 1.3 M euros (prior year: 1.8 M euros). After tax, the group generated a surplus of 0.9 M euros (prior year: 1.1 M euros).
The key data of the Interim Report as follows:
Sales 2007: 16.1 Mio. Euro Sales 2006: 10.0 Mio. Euro Change: +60 percent
EBITDA 2007: 3.4 Mio. Euro EBITDA 2006: 2.8 Mio. Euro Change: +21 percent
EBIT 2007: 2.2 Mio. Euro EBIT 2006: 1.9 Mio. Euro Change: +13 percent
As already announced at countless international trade show launches, the company is pressing ahead with the integration of the 350-PS kerosene piston aircraft engine Centurion 4.0 in other aircraft. In April 2007, the company received supplemental type certification for retrofitting in the Cessna 206 Stationair after receiving the same for retrofitting in the Cirrus SR22 in March. "In both cases, certification plays an important role in stepping up business relations with the two biggest aircraft manufacturers worldwide", says Frank Thielert, CEO Thielert AG. As early as March 2007, the company was able to announce the certification of the Centurion 2.0, the successor of the tried and tested Centurion 1.7 model, in a majority of Cessna 172 and in Piper PA28 models. This once again considerably increased the sales potential for modern kerosene piston aircraft engines on the U.S. market and around the globe.
After the first 100 days the new plant in Altenburg is now ready to give positive impact on the engine kit deliveries for customers in both the aircraft manufacturer and retrofit market segment. All assembly stations are put into operation and the plant is integrated into the logistical system of the company. With the second quarter the output shows an significant increase.
Against this backdrop, the Thielert Group believes it is well on the way to achieving the goals it set itself for 2007. The broadened customer base, in particular, bodes well for positive development.
The complete Interim Report is available at www.thielert.com.
end of announcement euro adhoc 16.05.2007 10:49:51
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Head of Corporate Communication
Branche: Machine Manufacturing
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