MTU Aero Engines (MTU), Germany's leading engine manufacturer, is raising its earnings forecast for the current financial year in light of expectations regarding future business development. The company now expects an adjusted EBIT of more than €800 million. This represents a slight year-on-year increase in the adjusted EBIT margin, compared to the previous guidance of a stable adjusted EBIT margin.
Free cash flow in 2023 is expected to be above the previous year's level of €326 million, as already announced at the end of April. Revenue guidance for 2023 remains at €6.1 to €6.3 billion, with growth expectations for the segments largely unchanged.
MTU is a technological leader in low-pressure turbines, high-pressure compressors, turbine centre frames as well as manufacturing processes and repair techniques. In the commercial OEM business, the company plays a key role in the development, manufacturing and marketing of high-tech components together with international partners. Some 30% of today's active aircraft in service worldwide have MTU components on board. In the commercial maintenance sector the company ranks among the top-three service providers for commercial aircraft engines and industrial gas turbines. (£1.00 = €1.17 at time of publication).
