|Outlook 2021||Actual 2020|
|Revenues||~ 4.3 to 4.5 bn€||3.977 m€|
|Adjusted EBIT Margin||~ 10.0% to 10.5%||10,5% (416 m€)|
|Net Income adjusted||~ Growth in line with EBIT adjusted||294 m€|
|Free Cashflow Conversion||~ Mid to high double digit % range||36% (105m€)|
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.