Tognum reports two-digit growth
Posted on February 01, 2012
The specialist for propulsion and power solutions Tognum AG has slightly exceeded its revenue and earnings forecast based on preliminary figures for the 2011 financial year just ended.
- Revenues and adjusted EBIT for the full year 2011 were slightly above the forecast from November
- Preliminary revenue and earnings figures for the full year 2011 published
Friedrichshafen, 1 February 2012. The specialist for propulsion and power solutions Tognum AG has slightly exceeded its revenue and earnings forecast based on preliminary figures for the 2011 financial year just ended. Revenues were up 16% last year to around €2.97 billion (2010: €2.56 billion); with an adjusted EBIT of around €345 million, the adjusted EBIT margin was around 11.6% (2010: 9.4%). In November of last year, the company had announced that it expected revenues of around €2.9 billion for the full year 2011 and an adjusted EBIT margin of around 11%.
“After a strong finish at the end of the year, revenues and earnings are slightly above our expectations,” said Joachim Coers, CEO of Tognum AG. “In addition to a very profitable product mix, there was also an additional benefit due to a stronger than expected US dollar.”
Tognum will publish its business figures for 2011 at its Annual Press Conference to be held in Stuttgart on 8 March 2012.