Tognum Reaches 2012 Profit Target

Press Release
Thursday, February 14, 2013

Specialist for propulsion and power solutions, Tognum AG, has achieved its revenue and profit targets for the full year 2012.

Revenues increased slightly last year by 1.4% as expected to €3.015 billion (2011: €2.97 billion). With an adjusted EBIT of €296 million, the adjusted EBIT margin was at 9.8% (2011: 11.6%). In August of last year, Tognum specified its forecast for the full year 2012.

The company subsequently announced that it anticipated growth in revenues in the lower single-digit percentage range, with an adjusted EBIT margin of around ten per cent.  

“Following a successful start to 2012, a cooling global economic environment was noticeable around the middle of the year,” states Joachim Coers, CEO of Tognum AG. “As a result of an unusually strong fourth quarter, we were nevertheless able to increase revenues for the year to over three billion euros and thus achieved slight growth.“ 



Tognum will report on its full set of business figures for 2012, including an outlook for 2013, in its Annual Report 2012, which the company will publish on March 5, 2013.



Note: An Extraordinary General Meeting of Tognum AG in November 2012 approved a Domination and Profit and Loss Transfer Agreement (DPLA) concluded with Engine Holding GmbH, the joint venture set up by Daimler and Rolls-Royce. The DPLA was entered in the Commercial Register at the end of last year. As a result, Rolls-Royce plc. will fully consolidate Tognum’s business figures for the year 2013.
 

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub,

Wärtsilä Reshuffles Two Top Managers

The following appointments have been made in the management inform Wärtsilä Corporation: Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants,

Marine Propulsion

Wärtsilä Reshuffles Two Top Managers

The following appointments have been made in the management inform Wärtsilä Corporation: Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants,

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

Voith Schneider Propellers Drive Double-ended Ferry MS Frisia IV

Ferries operated by Norden-Frisia AG have been serving the East Frisian island of Norderney for many decades. Navigation in these coastal waters poses special

Finance

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

Marine Power

Wärtsilä Reshuffles Two Top Managers

The following appointments have been made in the management inform Wärtsilä Corporation: Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants,

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

ABB Celebrates 125th Anniversary in Finland

ABB is celebrating today its 125th anniversary in Finland. Founded in 1889 in Helsinki by entrepreneur and inventor Gottfrid Strömberg, ABB Finland is today

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1527 sec (7 req/sec)