MTU Aero Engines achieves forecast for 2011

MTU Aero Engines fully achieved its forecast for the financial year 2011, as the company announced during the presentation of its provisional financial statements at the annual results press conference on Thursday, February 23, 2012. Revenues were at the upper end of the expected bandwidth of + 7 to 8%, increasing by 8% to reach €2,932.1m (2010: €2,707.4m). Adjusted for the effect of the U.S. dollar exchange rate, revenues rose by 13%. MTU improved its operating profit by 6%, from €310.7m in 2010 to €328.0m. The company exceeded its own revenue forecast of €325m, which it had already revised upward in the course of the year. MTU posted an EBIT margin of 11.2% (2010: 11.5%), while net income adjusted in 2011 grew by 7%, from €183.8m to €196.6m.