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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. 14, 2006
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Thielert once again with considerable increase in profit and sales
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- Operating profits increased by 43 percent to 7.1 million euros
- At 28.2 million euros, sales are just short of tripling compared to previous half-year
- "After this strong quarter, we are confident of achieving our growth goals," says Frank Thielert, CEO of Thielert AG
Hamburg – After record figures in the initial quarter of this year, Thielert AG continues its positive profit and sales development. Calculated on the basis of the first half-year, the EBIT was 7.1 million euros, which was approximately 43 percent above the previous year’s value. This increase is especially due to the Aircraft Engines segment with an EBIT growth of 85 percent (4.8 million euros). Thielert also reported considerable growth in sales of 169 percent to 28.2 million euros in the first half-year. Both business segments contributed to this. Sales in the Aircraft Engines segment increased by 173 percent to 14.0 million euros. In the Technology & Prototyping segment, revenue in the same period increased by 166 percent to 14.2 million euros. Sales from Superior Air Parts, Inc. (SAP), Coppell, USA, which was taken over in the spring of this year, were included in the quarterly financial report for the first time. They amounted to 8.0 million US dollars and comprised 44.3 percent of sales in the Technology & Prototyping segment.
Earnings before taxes were 6.5 million euros. After taxes, the Group earned a profit of 4.1 million euros.
"After this strong quarter, we are confident of achieving our growth goals," says Frank Thielert, CEO of Thielert AG. "We are expecting an increase in sales compared to the previous year of 80 percent."
Thielert Group's workforce in the first half-year of 2006 was an average of 311, which was 45 percent more than in the same period last year. Without the growth from the SAP acquisition, the work force increased by 24 percent, which clearly shows that added sales of more than 50 percent in the core business (without SAP) were achieved with personnel growth of less than 25 percent.
Outlook: New Market Potential through Development and Certification
Further development of engine installations in popular aircraft of general aviation and additional certifications are considerably expanding the market potential for jet fuel aircraft engines from the Centurion family. Installation of the Centurion 1.7 jet fuel/diesel engine in the Piper PA-28-161 piston aircraft is also certified in the USA since the end of July 2006. European certifications for other PA-28 models were granted in the second quarter. The number of Thielert’s PA-28-certifications increased from three to eleven supplemental type certifications. Likewise, at the end of July, it was possible to acquire the first American fleet operator as a customer – the flying school "American Flyers". In addition, installations of the Centurion 4.0 350 HP engine are pressed ahead with various Cessna models. In the coming months, the aviation certifications are expected. In addition, the company has announced a third jet fuel aircraft engine. With its 230 horsepower, it will complete the power range of the Centurion engine family.
Key data of Thielert AG according to IFRS
Sales (01.01.-30.06 2006): 28.2 million Euro
Sales (01.01.-30.06 2005): 10.5 million Euro
Sales (Changes): 169%
Gross profit on sales (01.01.-30.06 2006): 16.7 million Euro
Gross profit on sales (01.01.-30.06 2005): 7.8 million Euro
Gross profit on sales (Changes): 113%
EBITDA (01.01.-30.06 2006): 9.0 million Euro
EBITDA (01.01.-30.06 2005): 6.2 million Euro
EBITDA (Changes): 46%
EBIT (01.01.-30.06 2006): 7.1 million Euro
EBIT (01.01.-30.06 2005): 4.9 million Euro
EBIT (Changes): 43%
EBT (01.01.-30.06 2006): 6.5 million Euro
EBT (01.01.-30.06 2005): 2.9 million Euro
EBT (Changes): 124%
Consolidated net profit (01.01.-30.06 2006): 4.1 million Euro
Consolidated net profit (01.01.-30.06 2005): 1.7 million Euro
Consolidated net profit (Changes): 141%
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Aircraft Engines Segment
Sales (01.01.-30.06 2006): 14.0 million Euro
Sales (01.01.-30.06 2005): 5.1 million Euro
Sales (Changes): 173%
Gross profit on sales (01.01.-30.06 2006): 8.5 million Euro
Gross profit on sales (01.01.-30.06 2005): 4.0 million Euro
Gross profit on sales (Changes): 111%
EBITDA (01.01.-30.06 2006): 5.7 million Euro
EBITDA (01.01.-30.06 2005): 3.2 million Euro
EBITDA (Changes): 78%
EBIT (01.01.-30.06 2006): 4.8 million Euro
EBIT (01.01.-30.06 2005): 2.6 million Euro
EBIT (Changes): 85%
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Technology & Prototyping Segment
Sales (01.01.-30.06 2006): 14.2 million Euro
Sales (01.01.-30.06 2005): 5.3 million Euro
Sales (Changes): 166%
Gross profit on sales (01.01.-30.06 2006): 8.2 million Euro
Gross profit on sales (01.01.-30.06 2005): 3.8 million Euro
Gross profit on sales (Changes): 114%
EBITDA (01.01.-30.06 2006): 3.4 million Euro
EBITDA (01.01.-30.06 2005): 3.0 million Euro
EBITDA (Changes): 12%
EBIT (01.01.-30.06 2006): 2.3 million Euro
EBIT (01.01.-30.06 2005): 2.4 million Euro
EBIT (Veränderung): -2%
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