Thielert: Annual Result 2006

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companies/Annual Result 2006

Hamburg (euro adhoc) - Aircraft engine manufacturer Thielert AG,
quoted on the SDAX, is publishing its figures for the 2006 fiscal
year in accordance with IFRS. Subject to the still outstanding audits
of notes to the financial statements and management report, the
auditors have announced that they will issue an unqualified opinion
for revenues of 58.5 million euros and an EBT of 7.7 million euros.
There are two important changes compared to the preliminary figures
announced on 26 March 2006. Receivables from prior years, which were
the subject of public criticism, were written off with an amount of
3.05 million euros. Furthermore revenues from development services
with combined development and serial delivery orders are no longer
included in the income statement. This change in accounting results
in postponed revenues from 2006 to 2007 and beyond. In spite of the
conservative accounting method selected in conjunction with the
auditors, the company has been able to record an increas e in sales
of 55.6 percent compared to last year.

Thielert's operating business still breaks down into two segments -
Aircraft Engines and Technology & Prototyping. In the Aircraft
Engines segment, kerosene aircraft engines are developed, certified
and distributed. The production of engine components and the
provision of development services are grouped in the Technology &
Prototyping segment. The business of Superior Air Parts, Inc. which
has been acquired in 2006 are part of this segment, too.

Profit situation of the overall Thielert Group in accordance with
IFRS:

Sales 2006: 58.5 Mil. euros
Sales 2005: 37.6 Mil. euros
Change: 55.6 Percent

Gross earnings from Sales 2006: 32.1 Mil. euros
Gross earnings from Sales 2005: 23.4 Mil. euros
Change: 37.2 Percent

EBITDA 2006: 13.0 Mil. euros
EBITDA 2005: 16.1 Mil. euros
Change: -19.3 Percent

EBIT 2006: 8.7 Mil. euros
EBIT 2005: 13.1 Mil. euros
Change: -33.6 Percent

EBT 2006: 7.7 Mil. euros
EBT 2005: 9.1 Mil. euros
Change: -15.4 Percent

Outlook

The foundation for growth in the years to come was laid in the 2006
fiscal year. Manufacturing capacity in all locations was decisively
expanded and rationalised. Two fully developed engines have been in
serial production in the form of the CENTURION 2.0 and 4.0. Over
1,800 type certifications respectively supplemental type
certifications guarantee that already over 60 percent of the entire
market (replacement engines and new aircraft equipment) can be
covered in certification terms. Further important certifications are
expected shortly. "We have every reason to look to the future with
optimism because the customer base is already in place for further
growth," said Frank Thielert, Board Chairman and founder of Thielert
AG. In terms of sales, Thielert still expects to see over 50 percent
annual growth. For the profit situation, he also sees a positive
development for fiscal year 2007.

end of announcement euro adhoc 13.04.2007 07:07:41
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ots Originaltext: Thielert AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Sebastian Wentzler
Head of Corporate Communication
Telefon: +49(0)40/696950-35
E-Mail: press@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
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