In the first quarter of 2019, MTU Aero Engines AG saw its revenues
increase by 11% from €1,016.4 million to €1,131.2 million. The group’s operating profit grew by 7% to €187.6 million (1-3/2018: €175.1 million), resulting in an adjusted EBIT margin of 16.6% (1-3/2018: 17.2%). Net income increased in line with EBIT adjusted, rising by 8% from €123.3 million to €133.5 million.
“These results confirm our assumptions for our full-year business development,” said Reiner Winkler, CEO of MTU Aero Engines AG. “We therefore maintain our prediction of continued profitable growth in all operating segments.“
In the first quarter, MTU recorded the highest revenue growth in the commercial engine business. Revenues here increased by 21% from €318.7 million to €385.6 million.
Revenues in the commercial maintenance business increased by 6%, rising from €618.2 million in the first quarter of 2018 to €655,1 million.
Revenues in the military engine business increased by 15% to €105.1 million in the first quarter (1-3/2018: €91.3 million).
MTU’s order backlog reached €18.5 billion (Dec. 31, 2018: €17.6 billion) at the end of March 2019 . “In arithmetical terms, this corresponds to a workload of almost four years and reflects MTU’s strong market position,” said Winkler. 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.
Commercial maintenance business reported the highest percentage growth in earnings, with EBIT adjusted increasing by 10% to €56.8 million (1-3/2018: €51.5 million). The EBIT margin rose from 8.3% in the first quarter of 2018 to 8.7% in the same period of 2019. In the OEM segment, MTU increased its first-quarter earnings by 6% from €123.4 million to €130.5 million. The EBIT margin stood at 26.6% compared with 30.1% at the end of March 2018.
