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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.





Nov. 20, 2006
Thielert – First Successful Year as a Public Company

  - Plus 60 percent: share price up from EUR 13.50 to EUR 21.60
- Strong out performance of SDAX Index

Hamburg - Thielert AG's first year as a public company ended with a closing price EUR 21.60 last Friday. The company has been quoted in the Prime Standard segment of the German Stock Exchange since November 17, 2005. The shares were issued at EUR 13.50 at that time. Within the year, the shares have risen by 60% and have thus significantly outperformed the German small caps index SDAX. The SDAX increased by only 26%.

"At our IPO a year ago, we offered investors the opportunity to invest in an attractive growth company, with strong potential", says Frank Thielert, CEO of Thielert AG. "At that time, we said that we would use the proceeds primarily to finance further growth. This includes particularly development work to expand the CENTURION engine family and the expansion of production capacity. This is exactly what we have done." Frank Thielert adds. The increase in the share prices confirms that investors recognize the achievements of the company.

In its report for the first 9 months of 2006, Hamburg-based Thielert reveals further substantial sales and profit increases. Compared to the same period last year, the the aircraft engine manufacturer’s EBIT amounted to EUR 13 million, approximately 61 percent more than in 2005 (EUR 8.1 million). In the third quarter alone, the EBIT result stood at EUR 5.9 million, an increase of 84 percent over the prior-year value (EUR 3.2 million). The dramatic growth was mainly accounted for the Aircraft Engines segment with the CENTURION kerosene piston aircraft engines, whose EBIT shows a plus of 71 percent.

EBT went up by 145 percent to EUR 12 million (from EUR 4.9 million). After tax, the Thielert Group’s income amounted to EUR 8 million, an increase of 208 percent over the same period last year (EUR 2.6 million).

During the first 9 months of the fiscal year, the group's workforce averaged 315 (270 in Germany, 45 in the USA). This figure includes 18 apprentices. The new plant in Altenburg, Thuringia, will shortly be commissioned. From mid-December, 35 new employees will be busy installing retrofit kits at this plant. The company also anticipates considerable order volume in the defense technology field.














 

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