MTU Aero Engines starts 2015 with rise in revenues and earnings

In the first quarter of 2015, MTU Aero Engines AG increased its revenues by 20% to €1.099,5bn (1-3/14: €913.0m). The group’s operating profit rose by 10% to €97.7m (1-3/14: €89.0m). The EBIT margin amounted to 8.9%, compared with 9.7% for the same period in the previous year, and earnings after tax increased by 22% to €68.2m (1-3/14: €56.0m). Revenues in the commercial engine business increased by 27% to €635.5m (1-3/14: €500.5m). The key drivers of those revenues were the V2500 for the Airbus A320 family, the GP7000 engine for the A380, and the GEnx for the Boeing 787 and 747-8. The V2500 program was the main source of revenues in the commercial maintenance business, which saw its revenues climb by 26% from €303.6m to €383.9m. Revenues in the military engine business followed a downward course, decreasing by 22% to €91.2m (1-3/14: €116.6m). The EJ200 Eurofighter engine accounted for the greater part of these revenues. At the end of March 2015, MTU’s order backlog stood at €12,681.1m, which corresponds to a production span of approximately three years.