Tognum Completes First Quarter as Expected
The specialist for propulsion and power solutions Tognum has completed the first three months of the current financial year in line with expectations and confirms its forecast for the full year. “Despite the modest quarterly revenues as expected, we managed to achieve an adjusted EBIT margin of 8.4%,” said Volker Heuer, chairman of the executive board of Tognum AG. The company continues to expect an adjusted EBIT margin (adjusted return on sales) of 6 to 9%, with revenues of €2.3 to 2.5 billion. In the medium term, Tognum intends to grow faster than the market and achieve a double-digit return on sales. “We are currently observing positive signs, primarily in our after sales business, in the oil and gas industry and in distributed energy systems,” Heuer added.
Tognum First Quarter for the Year
Tognum has completed the first three months of the current financial year in line with expectations and confirms its forecast for the full year. “Despite the modest quarterly revenues as expected, we managed to achieve an adjusted EBIT margin of 8.4%,” said Volker Heuer, chairman of the executive board of Tognum AG. The company continues to expect an adjusted EBIT margin (adjusted return on sales) of 6 to 9%, with revenues of €2.3 to 2.5 billion. In the medium term, Tognum intends to grow faster than the market and achieve a double-digit return on sales. “We are currently observing positive signs, primarily in our after sales business, in the oil and gas industry and in distributed energy systems,” Heuer added.
