In the first nine months of 2021, MTU Aero Engines AG generated stable revenue and earnings. Revenue was €3,008 million, compared with €2,957 million in the first nine months of 2020. The operating profit was €307 million; in the prior-year period it was €311 million. The adjusted EBIT margin was 10.2% (1-9/2020: 10.5%). Net income was almost unchanged year-on-year at €220 million (1-9/2020: €219 million).
“We managed to deliver stable earnings in persistently volatile market conditions. On this basis, we can now give more precise guidance for the full year,” said Reiner Winkler, CEO of MTU Aero Engines AG. “We now assume that revenue will be between €4.3 and €4.4 billion at year-end. The adjusted EBIT margin should be around 10.5%, which is the upper end of the range forecast to date.” In its guidance at the end of July, MTU gave a slightly broader range of €4.3 to €4.5 billion for revenue and predicted an adjusted EBIT margin of between 10% and 10.5%. The company expects adjusted net income to develop in line with the operating profit.
In the first nine months, revenue was affected by the US dollar exchange rate. CFO Peter Kameritsch: “There was some headwind from the exchange rate. In dollars, revenue grew by 8% in the first nine months.”
In euros, MTU registered higher revenue from both commercial maintenance and the military business in the first nine months of 2021.
