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The information contained in these press releases and statements was accurate, in all material respects, at the time of issuance. However, Continental Aerospace Technologies GmbH assumes no obligation to update the information to reflect subsequent developments.
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Aug. 03, 2007
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Annual general meeting held successfully
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The SDAX-listed company Thielert AG held its annual general meeting on 01 August 2007 in Hamburg. The 194 shareholders present were able to look back on a successful financial year in 2006, a year that was defined by investments into the future. Nevertheless, the company recorded a growth in turnover of 59.5 percent over the same period. At the vote, the shareholders approved the board of directors and the supervisory board by a very large majority. In addition, Ernst & Young AG, Hamburg was appointed as new financial auditor.
"After the investments in the new locations in Altenburg and Dallas as well as in assembly lines, we are optimally equipped for the future. We will make further investments into our growth, in order to achieve the 50 percent market share we are aiming for in the field of aircraft engines. Our forecasts for 2007 and 2008 are to be confirmed here. We are continuing to grow, with healthy revenues and healthy returns“, reported Frank Thielert, CEO, in his summing up of the company’s situation. He added that the relationships with the most important customers were on a firm and long-term financial footing. “Customers such as Diamond, Cessna and General Atomics Aeronautical Systems are now – and will be in the future – the basis of our business success.“
Following the general debate, voting on the points on the agenda led to clear majorities in favour of the resolutions proposals of the administration. The management board was approved with 99,90 percent. The actions of the supervisory board were approved by 99.93 percent. In addition, 99.98 percent voted in favour of the accountants Ernst & Young, Hamburg as the company’s new financial auditors. A total of 69.33 percent of those eligible to vote were present at the AGM.
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