MTU Aero Engines has reported a 10% improvement in revenues to EUR 693.1 million for the first quarter of 2009 (1-3/08: EUR 630.0 million). Discounting the effect of the U.S. dollar exchange rate, revenues decreased by 2%. Operating profit amounted to EUR 75.2 million, compared with EUR 80.0 million in the first three months of 2008. This reduction is mainly attributable to higher research and development expenses, in addition to the impact of the present market situation.
The EBIT margin for this three-month period amounted to 10.8%, which slightly exceeds the level expected by MTU for the full year. Net income for the first quarter of 2009 amounted to EUR 31.0 million. This is lower than the figure for the equivalent period one year earlier (1-3/08: EUR 44.2 million), mainly due to a lower financial result attributable to valuation differences and the reduced operating profit.
