Tognum Confirms 2012 Financial Forecast

Maritime Activity Reports, Inc.

May 10, 2012

Mariine power & propulsion manufacturer Tognum has confirmed it expects single-digit percentage growth for remainder of 2012

  • Solid order intake amounting to €771.5 million
  • Revenues increase to €685.3 million
  • Adjusted EBIT margin of 9.9%
  • Forecast for full-year 2012 confirmed
  • More than 10,000 employees following Aggetech takeover

Tognum, at the end of the first quarter, has confirmed its forecast for the full-year 2012. The company continues to expect a single-digit percentage growth in revenues and an adjusted return on sales of over ten per cent.

“As a result of an order backlog that remains strong at over two billion euros, we are confident that we will achieve our targets for the 2012 financial year,” said Joachim Coers, CEO of Tognum AG. “But in view of the considerable uncertainty that continues to prevail on the capital and commodities markets,  we will have to expect fluctuations in demand in the course of the year.”

Order intake and revenues
The order intake in the first three months of 2012 was solid at €771.5 million (Q1 2011: €817.9 million). Revenues were up 3.6% compared with the same quarter last year to €685.3 million (Q1 2011: €661.4 million).

Adjusted EBIT and adjusted EBIT margin

The adjusted EBIT was down 5.8% to €67.7 million (Q1 2011: €71.9 million). The decline results primarily from a scheduled increase in R&D expenditure. The adjusted EBIT margin in the first quarter was 9.9% (Q1 2011: 10.9%).

Adjusted gross profit margin and adjusted group net profit
The adjusted gross profit in the first three months of the year amounted to €203.0 million (Q1 2011: €197.5 million). This results in an adjusted gross profit margin of 29.6% (Q1 2011: 29.9%). The adjusted group net profit amounted to €44.3 million (Q1 2011: €50.8 million). The adjusted earnings per share was subsequently reduced to €0.33 (Q1 2011: €0.39).

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