Outlook 2016

Outlook 2016

MTU's targets for the financial year 2016 are as follows:

in € millionForecast 2016Actual 2015
Revenues~4,600 - 4,7004,435.3
Adjusted EBIT marginStable9.9%
Adjusted earnings after taxIncrease in line with adjusted EBIT306.9

Cash conversion rate

Lower double-Digit percentage


 The Company expects its revenues and earnings to continue rising in 2016.


In the commercial OEM Business, MTU expects to see an increase in revenues in 2016, both from engine manufacturing activities and from spare parts sales. This business unit is expected to grow in U.S. dollar terms by a percentage in low- to mid-single-digit range.

Revenues in the military engine business are expected to remain stable.

MTU's forecast for its commercial maintenance business in 2016 is for revenue growth in the high single-digit percentage range in U.S. dollar terms.

Operating Profit

MTU expects its operating profit (adjusted EBIT) to increase in 2016 compared to 2015. The adjusted EBIT margin is expected to remain stable at around 10%.

Adjusted earnings after tax

In 2016, adjusted earning after tax are expected to increase in line with EBIT.

Free Cash Flow

MTU plans to achieve a free cash flow conversion rate (ratio of free cash flow to adjusted earnings after tax) in the lower double-digit percentage range.


In addition to information relating to past events, this report also contains forward-looking statements. Such passages can generally be identified through the use of such terms as ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘anticipate’, ‘predict’, ‘will’, ‘believe’, ‘is likely to’, ‘might’ and similar phrases, or through the fact that they are presented in the context of a strategy. Forward-looking statements relate to future expectations, developments, trends, and business strategies, and are based on analyses or predictions of MTU’s future business performance and estimates of figures that cannot be affirmed with any certainty at the present time. These forward-looking statements merely reflect MTU’s current outlook at the time the statements were made, and MTU does not accept any responsibility for updating forward-looking statements except in cases where it is a statutory requirement. The forward-looking statements contained in this chapter involve known and unknown risks, uncertainties, and other factors that may result in an actual future outcome based on real events, developments and performances that deviates significantly from the content of the statements presented here. These factors include changes in the general economic climate and business environment, exchange rate fluctuations, in addition to the factors enumerated in the "risk report" section of the MTU Annual Report 2015.