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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, Technify Motors GmbH assumes no obligation to update the information to reflect subsequent developments.





Nov. 13, 2006
Thielert Continues Growth with Record Quarter

  - Q3 EBIT increases by 61 percent to EUR 13 million
- Net profit more than tripled from EUR 2.6 million to 8 million
- Sales double to EUR 47.5 million compared to the same period in 2005
- "We will achieve our sales increase target of 80 percent for 2006," confirms Frank Thielert, Chairman of the Board of Thielert AG

Hamburg – 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 per cent 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 per cent over the prior-year value (EUR 3.2 million). The dramatic growth was mainly accounted for by the Aircraft Engines segment, whose EBIT shows a plus of 71 percent.

Group sales, too, almost doubled to EUR 47.5 million, mainly owing to the Technology & Prototyping segment, which boosted its sales by 155 percent to EUR 25.4 million (from EUR 10 million). This is due to the sales of Superior Air Parts, Inc. (SAP), which must be taken into consideration starting from the second quarter of 2006. The Aircraft Engines segment achieved a sales increase of 59 percent, growing to EUR 22.1 million (from EUR 13.9 million).

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.


Key Financials of Thielert AG Pursuant to IFRS

Sales (1/1-30/9/2006): 47.5 in million EUR
Sales (1/1-30/9/2005): 23.9 in million EUR
Sales Change: 99%

Gross profit on sales (1/1-30/9/2006): 30.0 in million EUR
Gross profit on sales (1/1-30/9/2005): 14.9 in million EUR
Gross profit on sales Change: 101%

EBITDA (1/1-30/9/2006): 15.8 in million EUR
EBITDA (1/1-30/9/2005): 10.0 in million EUR
EBITDA Change: 58%

EBIT (1/1-30/9/2006): 13.0 in million EUR
EBIT (1/1-30/9/2005): 8.1 in million EUR
EBIT Change: 61%

EBT (1/1-30/9/2006): 12.0 in million EUR
EBT (1/1-30/9/2005): 4.9 in million EUR
EBT Change: 145%

Group income (1/1-30/9/2006): 8.0 in million EUR
Group income (1/1-30/9/2005): 2.6 in million EUR
Group income Change: 208%


Aircraft Engines Segment

Sales (1/1-30/9/2006): 22.1 in million EUR
Sales (1/1-30/9/2005): 13.9 in million EUR
Sales Change: 59%

Gross profit on sales (1/1-30/9/2006): 14.3 in million EUR
Gross profit on sales (1/1-30/9/2005): 8.3 in million EUR
Gross profit on sales Change: 72%

EBITDA (1/1-30/9/2006): 9.2 in million EUR
EBITDA (1/1-30/9/2005): 5.8 in million EUR
EBITDA Change: 59%

EBIT (1/1-30/9/2006): 8.0 in million EUR
EBIT (1/1-30/9/2005): 4.7 in million EUR
EBIT Change: 71%


Technology & Prototyping Segment

Sales (1/1-30/9/2006): 25.4 in million EUR
Sales (1/1-30/9/2005): 10.0 in million EUR
Sales Change: 155%

Gross profit on sales (1/1-30/9/2006): 15.7 in million EUR
Gross profit on sales (1/1-30/9/2005): 6.5 in million EUR
Gross profit on sales Change: 140%

EBITDA (1/1-30/9/2006): 6.6 in million EUR
EBITDA (1/1-30/9/2005): 4.2 in million EUR
EBITDA Change: 56%

EBIT (1/1-30/9/2006): 5.0 in million EUR
EBIT (1/1-30/9/2005): 3.4 in million EUR
EBIT Change: 47%

Outlook: Engine Development, New Production Plant, and Defense Technology Segment Target Further Growth
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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