MTU Aero Engines AG has revised its earnings outlook for 2024, now expecting an adjusted EBIT of slightly over €1 billion. Previously, the company had forecasted adjusted EBIT between €950 million and €980 million. This improved outlook is based on strong performance across all business segments despite ongoing market challenges.
Preliminary figures for the first nine months of 2024 show MTU generated an adjusted revenue of €5.29 billion, with €1.79 billion from its OEM business and €3.58 billion from its commercial maintenance operations, prior to consolidation effects. Adjusted EBIT for the same period was €744 million, with an EBIT margin of 14.0%. The OEM business contributed €444 million to the EBIT, while €300 million came from the commercial maintenance segment. As of September, free cash flow stood at €213 million.
MTU’s revenue and free cash flow guidance remain unchanged, with expected revenue between €7.3 billion and €7.5 billion and free cash flow projected to be in the low triple-digit million-euro range for the year.
The company will publish its detailed financial figures for the first nine months of 2024 on October 24. (€1.00 = US$1.09 at time of publication).
