News, facts, and comments on the coming revolution for piston-engine aircraft.
In 1998, one diesel engine flew on a converted airplane for the first time since 1945. Today, close to 4,000 singles and twins are flying. This is the beginning of a worldwide trend which will eventually allow a rebirth of the piston-engined aircraft, around new specs and new missions.
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News of March 19, 2006
Thielert takes over Superior Air Parts, US aircraft engine manufacturer, and publishes a sharp increase in sales and profits.
The following press release announces a major breakthrough for aero diesels in the US.
Hamburg, Germany, March 14, 2006 - Thielert AG is taking over the PMA and aircraft engine manufacturer Superior Air Parts, Inc. (SAP) based in Coppell near Dallas in Texas, USA. SAP is the worlds leading producer of engine spare parts for small aircraft used for general aviation purposes. The company also manufactures gasoline engines for this type of aircraft. This acquisition will enable SDAX-listed Thielert AG to rigorously expand its range of products in the area of piston aircraft engines too. Currently, Thielert is already market leader in the field of aviation certified jet fuel/diesel, piston aircraft engines. In similar fashion to Thielert, SAP products stand out from others in the market thanks to their high technical quality. "With its outstanding products and established brand name, Superior Air Parts is the ideal acquisition to help us enhance our market position. Our acquisition of Superior Air Parts marks our final step along the road into the US-American market for engines and engine components and the expansion of our presence there", CEO Frank Thielert said. Agreement on the acquisition of SAP was reached on the evening of March 13, 2006. The value of the transaction is said to be around the 10 million US dollar mark, less than 15 percent of the IPO income earned by Thielert AG last November. As a so-called PMA (Parts Manufacturer Approval) manufacturer, SAP has been certified for the manufacture of engine spare parts for aircraft engines built by Lycoming and Continental. Moreover, SAP is a leading supplier of replacement engines in the secondary market. The company has just recently launched a piston aircraft engine under the brand name "Vantage Engine", the first one of its kind to have been certified in the USA for fifty years. All SAP products have been certified by the American civil aviation authority FAA (Federal Aviation Administration). Hitherto, the company, which was founded in 1967, belonged to the investment group RSTW. AP is a longstanding customer of Thielert in the area of aircraft engine components. Its range of engine components, conventional gasoline engines and innovative CENTURION jet fuel/diesel engines enable the company to cover all needs in terms of engines for small aircraft. Use will be made of SAPs existing distribution and service channels in the US markets for all products. Furthermore, Thielert will be organizing seminars at SAPs headquarters in Dallas from this March in the maintenance of its CENTURION aircraft engines so that its US customers can also be guaranteed professional service provided locally.
According to the audited year-end financial statements, consolidated sales rose by in excess of 55 percent to a total of 37.6 million euros in the 2005 financial year. In the year of its flotation, Thielert also recorded a significant increase in profits. Its EBITDA improved to 16.1 million euros, around 42 percent up over that of the previous year. Operating profits (EBIT) rose by just under 51 percent in 2005 to total 13.1 million euros. The annual surplus enjoyed even greater growth to end the year up by just under 107 percent at 7.7 million euros. Thielerts average workforce also grew significantly in the year under review with a total of 231 employees as compared with 191 in the previous year.
According to IFRS 2005:
Sales 2005: 37.6 mil. Euro
Sales 2004: 24.2 mil. Euro
Changes: 55.2 percent
EBITDA 2005: 16.1 mil. Euro
EBITDA 2004: 11.3 mil. Euro
Changes: 42.3 percent
EBIT 2005: 13.1 mil. Euro
EBIT 2004: 8.7 mil. Euro
Changes: 50.9 percent
Net profit 2005: 7.7 mil. Euro
Net profit 2004: 3.7 mil. Euro
Changes: 106.7 percent
The signs are that the company will register significant growth in the current year too. "Not least due to the acquisition of Superior Air Parts, we have every reason to look forward to 2006 with great optimism," Thielert said. The cost of the integration of SAP into the groups IT and logistics system stands at around 3 million US dollars. As far as sales are concerned, the aim is for an increase of 50 percent, whereby the positive impact of the SAP acquisition has not yet been taken into account. In profit terms too, Thielert is confident of a similarly dynamic development as in 2005. "Our order books are well filled."
More about Thielert AG and Superior Air Parts, Inc.:
Founded in 1989, Thielert Group is the worlds leading supplier of certified jet fuel/diesel piston aircraft engines for general aviation purposes. As a certified development, production and maintenance organization, Thielert AG was the first company in the world to be given a license for a jet fuel, piston-driven engine. The jet fuel engines in the CENTURION range reduce the level of direct flight costs by up to 60 percent as compared with conventional aircraft engines commonly used today. Moreover, the company has been developing and manufacturing components for high-performance engines and digital engine controls for more than sixteen years. It also devises production strategies for engine components and full engine adaptations for the automotive, military technology and aviation sectors. In the 2005 financial year, Thielert generated consolidated sales of 37.6 million euros (2004: 24.2 million euros) and earnings before interest, taxes and amortization (EBITDA) of 16.1 million euros (2004: 11.3 million euros). At its plants in Lichtenstein/Saxony and Hamburg, the company employs a workforce totaling 275.
Superior Air Parts, Inc. was founded in 1967 and is certified as a manufacturer of aircraft components (PMA – Parts Manufacturer Approval). Its headquarters are in Coppell near Dallas in Texas, USA. Superior has 53 employees and a fully developed service and distribution network in the USA. Sales generated in the 2005 financial year stood at around 25.3 million US dollars. The gross margin for the same year amounted to 28.2 percent (as per US-GAAP).
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Every month: news, facts, and comments on the coming revolution for piston-engines aircrafts between 130 and 400 HP: Retrofitting a diesel engine to run on Jetfuel or Kerosene, reduce Gallons/Hour by some 30%, eliminate ignition systems (magnetos, spark plugs) and their problems, eliminate mixture control, increase TBO to 2,400-3,000 hours, increase performance between 6,000 and 12,500 ft., and drastically reduce Operating Costs.
The letter is intended for piston engines aircraft owners, manufacturers, fleet operators and FBOs, re-manufacturers of engines for these aircrafts, manufacturers of engine components and ancillaries, and all professionals acting in decisions of engine exchange or refitting at TBO, in North and South America, Pacific Rim, African continent, and all parts of the world were Avgas, Mogas, Kerosene and Jetfuel are available.
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