In the first nine months of 2018, MTU Aero Engines generated revenues of 3,318.7 million, up 14% on the previous year (1-9/2017: €2,900.8 million). The group’s operating profit increased by 16% from €439.9 million to €508.9 million. The EBIT margin stood at 15.3% (1-9/2017: 15.2%). Earnings after tax rose by 16% to €362.8 million (1-9/2017: €312.8 million).
The strongest increase in MTU’s revenues in the period January to September 2018 was attributable to the commercial engine business, where revenues grew by 28% from €943.1 million to €1,203.7 million. The main source of these revenues was the V2500 engine for the classic A320 family as well as the PW1100G-JM for the A320neo and the GEnx engine that powers the Boeing 787 and 747-8.
In the commercial maintenance business, revenues rose by 17% from €1,727.5 million to €2,019.7 million. This growth was driven mainly by the V2500 engine, followed by the CF34 family of regional and business jet engines. “Our engine leasing and asset management business, which is constantly being expanded to include new services, is also gaining importance,” CFO Peter Kameritsch said. MTU is addressing the growing future demand for maintenance services by expanding its MRO network: “At the end of September, we laid the foundation stone for our EME Aero joint venture with Lufthansa Technik in Poland for the maintenance of Geared Turbofan™ aircraft engines,” said Winkler.
Revenues in the military engine business remained stable at €303.1 million (1-9/2017: € 305.2 million). The EJ200 Eurofighter engine was the main source of these revenues.
At September 30, MTU had an order backlog of €15.3 billion, compared with €14.9 billion at December 31, 2017. The majority of these orders relate to the V2500 and the Geared Turbofan™ engines of the PW1000G family, in particular the PW1100G-JM for the A320neo.
