Thielert: Financial Results published

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Hamburg (euro adhoc) - Hamburg - The executive board and the supervisory board
of Thielert Aktiengesellschaft published the final results for the business year
2006 today in coordination with the auditor BDO Deutsche Warentreuhand AG. The
figures published on 13 April 2007 have been confirmed in general. Thielert AG
posted an increase in sales of 59.5 percent to EUR 59.9 million. The operating
profit (EBIT) is presently at EUR 9.3 million and thus 29.6 percent above that
of the year before. The EBT fell by 14.6 percent to EUR 7.8 million. The net
profit was EUR 5.2 million (minus 31.8 percent). BDO has finished the audit at
Thielert´s site and has confirmed the final result. Now only the audit report
has to be finalized and the presentation for the supervisory board has to be
done.

The drop in earnings can be attributed to the complete discounting of old
accounts receivable of EUR 3.05 million, which were the object of some public
criticism. Moreover, the sales revenues from development services in combined
development and series delivery contracts is no longer being attributed to net
income.

Divisional reporting

In 2006, the Aircraft Engines Division made a contribution of EUR 31.5 million
to overall earnings, an increase of 41.6 percent compared to the previous year.
The earnings before interest, tax, depreciation and amortisation (EBITDA) fell
slightly in the reporting year by 1.8 percent to EUR 9.4 million. The operating
profit (EBIT) in this segment was EUR 7.1 million and thus 8.9 percent below
that of the previous value.

In the Technology & Prototyping Division, sales increased by 85.4 percent, to
EUR 28.5 million. This is where the acquisition of the new subsidiary Superior
Air Parts, Inc. made its presence felt. The EBITDA was EUR 3.9 million, 40.5
percent less than the previous year. The EBIT was EUR 2.2 million (minus 59,6
percent).

Income position of Thielert AG as per IFRS

Sales 2006: 59.9 Mio. Euro
Sales 2005: 37.6 Mio. euro
Change: +59.5 percent

Gross earnings from Sales 2006: 33.9 Mio. Euro
Gross earnings from Sales 2005: 23.4 Mio. Euro
Change: +45.0 percent

EBITDA 2006: 13.3 Mio. Euro
EBITDA 2005: 16.1 Mio. Euro
Change: -17.6 percent

EBIT 2006: 9.3 Mio. Euro
EBIT 2005: 13.1 Mio. Euro
Change: -29.6 percent

EBT 2006: 7.8 Mio. Euro
EBT 2005: 9.1 Mio. Euro
Change: -14.6 percent

Net Profit 2006: 5.2 Mio. Euro
Net Profit 2005: 7.7 Mio. Euro
Change: -31.8 percent

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Segment Aircraft Engines

Sales 2006: 31.5 Mio. Euro
Sales 2005: 22.2 Mio. Euro
Change: +41.6 percent

Gross earnings from Sales 2006: 20.8 Mio. Euro
Gross earnings from Sales 2005: 13.8 Mio. Euro
Change: +50.7 percent

EBITDA 2006: 9.4 Mio. Euro
EBITDA 2005: 9.5 Mio. Euro
Change: -1.8 percent

EBIT 2006: 7.1 Mio. Euro
EBIT 2005: 7.8 Mio. Euro
Change: -8.9 percent

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Segment Technology & Prototyping

Sales 2006: 28.5 Mio. Euro
Sales 2005: 15.4 Mio. Euro
Change: +85.4 percent

Gross earnings from Sales 2006: 12.8 Mio. Euro
Gross earnings from Sales 2005: 9.6 Mio. Euro
Change: +33.3 percent

EBITDA 2006: 3.9 Mio. Euro
EBITDA 2005: 6.6 Mio. Euro
Change: -40.5 percent

EBIT 2006: 2.2 Mio. Euro
EBIT 2005: 5.4 Mio. Euro
Change: -59.6 percent

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In comparison to sales growth of 59.5 percent the growth of workforce size even
including the personnel of Superior Air Parts was moderate. In the end of 2006,
Thielert employed 320 employees, 30 percent more than in the previous year.

Outlook

The foundation for solid growth in the coming years has been laid in the
business year 2006. Production capacity has been significantly extended and
rationalized at all company locations. With the CENTURION 2.0 and 4.0, two
highly-developed engines are in series production. Over 1800 model and
installation licenses mean that 60 percent of the total market (replacement
engines and equipment of new aircraft) can now be certified. Right now over 40
percent of currently produced new aircraft are covered with certifications.

"We have every reason to look with confidence into the future, as we now have
the customer base for further growth," said Frank Thielert, CEO and founder of
Thielert AG. Thielert is projecting sustained growth in sales of over 50 percent
annually. Thielert can also discern a positive trend in the profit situation for
the ongoing business year.

Further inquiry note:
Sebastian Wentzler
Head of Corporate Communication
Telefon: +49(0)40-696950-35
E-Mail: [email protected]

end of announcement euro adhoc 30.04.2007 23:57:00
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emitter: Thielert AG
Helbingstraße 64-66
D-22047 Hamburg
phone: +49(0)40-696950-0
FAX: +49(0)40-696950-50
mail: [email protected]
WWW: http://www.thielert.com
sector: Machine Manufacturing
ISIN: DE0006052079
indexes: SDAX, CDAX, Prime All Share, Classic All Share
stockmarkets: official dealing/prime standard: Frankfurter Wertpapierbörse, free
trade: Börse Berlin-Bremen, Hamburger Wertpapierbörse,
Baden-Württembergische Wertpapierbörse, Börse Düsseldorf,
Bayerische Börse
language: English

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