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LATEST IR NEWS 2023

MTU Aero Engines is Germany's leading engine manufacturer and an established global player in the industry. It engages in the development, manufacture, marketing and support of commercial and military aircraft engines in all thrust and power categories and industrial gas turbines. The German manufacturer employs over 12,000 people overall and with its various affiliates and subsidiaries has a presence in all significant regions and markets worldwide. In the years ahead, MTU will focus its resources on its core business, seek stakes in emerging engine programs and expand its service offerings.

MTU Aero Engines AG has published its preliminary figures for 2023. The figures were affected, in particular, by the Geared Turbofan fleet management plan, which has been eliminated as a one-time special item to enhance comparability. In 2023, MTU generated adjusted revenue of €6.3 billion, an increase of 19% compared with 2022 (2022: €5.3 billion). Adjusted EBIT increased by 25% from €655 million to €818 million in 2023. The adjusted EBIT margin rose from 12.3% in 2022 to 12.9% in 2023. Adjusted net income was 25% higher at €594 million (2022: €476 million). The Geared Turbofan fleet management plan had an impact of around €1 billion on the reported figures. Consequently, in 2023 MTU generated reported revenue of €5.4 billion, reported EBIT of €-161 million and a reported net loss of €97 million.

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At its meeting today, the MTU Aero Engines AG Executive Board decided to propose a dividend of €2.00 per share for the 2023 financial year.

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This year‘s Dubai Airshow brings success for MTU Aero Engines: The purchase decisions made there for various engines in which MTU is involved have resulted in orders worth more than half a billion dollars for the company. “The very pleasing order intake not only proves that aviation is a growth market, but also clearly shows that the widebody segment is becoming increasingly attractive again,” says Chief Program Officer Michael Schreyögg.

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MTU Aero Engines AG has published its figures for the first nine months of 2023. Based on the adjusted figures – especially the adjustments for the exceptional charges of around €1.0 billion relating to the Geared Turbofan™ inspection program – there were improvements across the board: Adjusted revenue grew by 21% to €4.6 billion (1-9/2022: €3.8 billion). Adjusted operating profit rose by 33% from €448 million to €597 million. The adjusted EBIT margin was 13.0% at the end of the first nine months (1-9/2022: 11.7%). Adjusted net income was €438 million at end-September, an increase of 37% (1-9/2022: €319 million).

 

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MTU Aero Engines AG has analyzed the impact of the expanded geared turbofan inspection program on the financial year 2023 and continues to anticipate significant resulting charges.

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According to information released today by Pratt & Whitney, the ongoing geared turbofan inspection program will result in 600 to 700 additional shop visits for PW1100G-JM engines in the coming years and an average of 350 aircraft on ground (AOG) in the period 2024 to 2026. The U.S. engine manufacturer expects its 51 percent program share to result in a financial burden of $3 billion to $3.5 billion in the coming years.

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MTU Aero Engines AG generated revenue of €3.1 billion in the first half of 2023 (1-6/2022: €2.5 billion). This equates to an increase of 25%. Operating profit rose by 40% from €290 million to €405 million. The adjusted EBIT margin was 13.1% (1-6/2022: 11.7%). Net income climbed by 45% to €300 million, up from €207 million in the prior-year period.

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For MTU Aero Engines, the Paris Airshow paid off: The engine manufacturer booked orders worth more than one billion U.S. dollars. “This total once again demonstrates the enormous demand in our industry - and MTU’s strong positioning. The huge demand for modern aircraft with fuel-efficient engines is clearly evident,” said Lars Wagner, CEO of MTU Aro Engines AG.

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Safran Helicopter Engines and MTU Aero Engines have signed a Memorandum of Understanding (MoU) to create a 50/50 joint venture as an agile and lean structure intended to develop a new engine for the European Next Generation Rotorcraft Technologies (ENGRT) project.Safran Helicopter Engines and MTU Aero Engines have signed a Memorandum of Understanding (MoU) to create a 50/50 joint venture as an agile and lean structure intended to develop a new engine for the European Next Generation Rotorcraft Technologies (ENGRT) project.

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MTU Aero Engines AG 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.

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