euro adhoc: Thielert AG / Mergers - Acquisitions - Takeovers / Thielert takes over US aircraft engine manufacturer Superior Air Parts - sharp rise in profits in 2005 - Superior Air Parts to be a key
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
14.03.2006
Hamburg, Germany - Thielert AG is taking over the PMA and aircraft engine manufacturer Superior Air Parts, Inc. (SAP) based in Coppell near Dallas in Texas, USA. SAP is the world’s leading producer of engine spare parts for small aircraft used for general aviation purposes. The acquisition of Superior Air Parts will enable Thielert to expand its presence in the USA. Agreement on the take-over of SAP was reached on the evening of March 13, 2006. The value of the transaction is said to be around the 10 million US dollar mark, less than 15 percent of the IPO income earned by Thielert AG last November.
All SAP products have been licensed by the American licensing authority FAA (Federal Aviation Administration). SAP is a longstanding customer of Thielert in the area of aviation engine components.
Strong economic performance in 2005 - course set for further growth in 2006 too
The audited year-end financial statements show the following key data:
as per IFRS 2005 (mil. Euro) 2004 (mil. Euro) Change in % Sales 37.6 24.2 55.2 EBITDA 16.1 11.3 42.3 EBIT 13.1 8.7 50.9 Net profit 7.7 3.7 106.7
Thielert AG will be publishing its year-end financial statements for 2005 in full on March 27, 2006 as planned.
Outlook
The signs are that the current year will be equally successful with sales and profits set to enjoy similar growth rates in 2006 as in 2005, whereby any positive contributions to sales and profits from the SAP acquisition have not yet been taken into account.
Additional information
PMA manufacturer - as a PMA (Parts Manufacturer Approval) manufacturer, SAP has been certified by the US-American aviation authority for the production of aircraft engine spare parts.
end of announcement euro adhoc 14.03.2006 16:59:27 --------------------------------------------------------------------------------
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: ir@thielert.com
Branche: Machine Manufacturing ISIN: DE0006052079 WKN: 605207 Index: SDAX Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
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