MTU Aero Engines post net income of EUR 142.2 million for 2010

MTU Aero Engines exceeded its earnings forecast for the financial year 2010. Operating profit increased by 7% from EUR 292.3 million in 2009 to EUR 311.3 million, which is higher than the earnings forecast of EUR 310 million that had been revised upward in the course of the year. MTU also improved its return on sales by 0.3 percentage points to 11.5%, once again demonstrating the company’s high level of profitability. MTU’s net income of EUR 142.2 million was not only higher than the previous year’s figure of EUR 141.0 million, but also above the company’s declared target of EUR 140 million. Revenues grew by 4% to EUR 2.71 billion (2009: EUR 2.61 billion), just under the forecast figure of EUR 2.75 billion. MTU also significantly exceeded its free cash flow target, which had also been revised upward during the year. At the end of 2010, free cash flow amounted to EUR 144.8 million (2009: EUR 120.2 million), 21% more than the forecast of EUR 120 million.