Tognum Reaches 2012 Profit Target
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.