MTU Aero Engines posts significant higher revenues and earnings after nine months

In the first nine months of 2015, MTU Aero Engines AG boosted its revenues by 16% to €3,257.0m (1-9/2014: €2,811.6m). The group’s operating profit grew by 23% to €333.1m (1-9/2014: €270.9m), while the EBIT margin rose from 9.6% to 10.2%. Net income increased by 30% to €231.4m (1-9/2014: €178.3 million). MTU’s commercial maintenance business recorded the highest increase in revenues for the nine-month period, which rose by 25% to €1,148.4m (1-9/2014: €920.8m). The main source of these revenues was the V2500 engine for the Airbus A320. In the commercial engine business, revenues increased by 15%, from €1,563.9m to €1,792.8m. Together, the V2500, the GP7000 engine for the A380 and the GEnx for the Boeing 787 and 747-8 accounted for the major part of these revenues. Revenues in the military engine business amounted to €345.9m, compared with €351.7m in the same period of 2014. The EJ200 Eurofighter engine was the main source of these revenues. MTU’s order backlog amounted to €11,126.8m (31.12.2014: €11,176.5m), which corresponds to a production span of around two-and-a-half years. The majority of these orders relate to the V2500 engine for the Airbus A320 and the PW1000G family of geared turbofan engines, most notably the PW1100G-JM for the A320neo. MTU’s operating profit grew substantially in the first nine months of 2015, especially in the commercial maintenance business, where MTU registered an increase of 41% to €112.4m (1-9/2014: €79.9 million). The EBIT margin in the MRO segment rose by 1.1 percentage points to 9.8%. In the OEM segment, adjusted EBIT increased by 16% to €220.4m (1-9/2014: €189.4m). This raised the EBIT margin in this segment to 10.3%, compared with 9.9% in the equivalent period of 2014.