MTU Aero Engines' revenues up 35% in first quarter

MTU Aero Engines Holding AG started the financial year 2013 with a 35% surge in revenues, which amounted to €944.7m in the first quarter 2013, compared with €698.0m in the first quarter 2012. The group generated an operating profit of €89.3m (1-3/12: €91.4m), which corresponds to an EBIT margin of 9.5%. Earnings after tax amounted to €54.5m, compared with €56.9m in the first three months of 2012. The rise in first-quarter revenues is mainly attributable to strong growth in the commercial engine business, where revenues increased by 65% from €296.8m to €488.4m. The key revenue drivers in the commercial engine business, including spare parts sales, were the V2500 engine for the Airbus A320 family, the PW2000 for the Boeing 757 and C-17, the GP7000 for the Airbus A380, and the GEnx that powers the Boeing 787 and 747-8. The highest growth rates were achieved for series production for the GP7000 and GEnx widebody programs. MTU’s revenues in the commercial maintenance business grew by 20% to €352.0m (1-3/12: €293.2m). The main source of these revenues was the V2500 engine, which powers the Airbus A320 family.