MTU Aero Engines AG’s 2015 revenues and earnings at new record levels

MTU Aero Engines AG closed the financial year 2015 with new records. Revenues reached a new high of €4,435.3m (2014: €3,913.9m) while the group’s operating profit climbed to €440.3m (2014: €382.7m), an increase of 15%. Earnings after tax beat the previous all-time record set in 2014, rising by 21% from €253.3m to €306.9m. The commercial maintenance business achieved the highest growth rate in terms of revenues in 2015, increasing by 22% to €1,580.6m (2014: €1,298.9m). The key revenue driver was the V2500 engine that powers the A320, followed by the CF6-80 deployed by Airbus and Boeing in their medium- and long-haul widebody airliners. Revenues in the commercial engine business grew by 14% to €2,414.0m (2014: €2,116.8m). The V2500, the GP7000 for the Airbus A380 and the GEnx for Boeing’s 787 Dreamliner and 747-8 were the highest contributors. MTU’s order backlog grew by 12% to €12,493.7m in 2015 (2014: €11,176.5m), which represents a production workload of almost three years. In 2015, MTU saw a significant leap in earnings from its commercial maintenance business, where adjusted EBIT increased by 33% to €155.2m (2014: €116.3m). In the OEM segment, adjusted EBIT increased by 7% in 2015 to €285.0mn (2014: €266.2m). Due to changes in the product mix, the EBIT margin decreased from 10.1% to 9.8%.