Latest IR-News

LATEST IR NEWS 2020

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 approximately 10,000 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 Maintenance Zhuhai, a joint venture between MTU Aero Engines and China Southern Airline Company limited, announces plans to establish a second facility in the neighboring Jinwan district. The facility is to be called MTU Maintenance Zhuhai Co., Ltd. Jinwan Branch, will have an initial annual capacity of 250 shop visits and expects to enter operations in 2024. The purchase of a 150,000 square meter plot of land has been agreed with local government and the project will now enter the detailed planning and construction stages.

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At its virtual Capital Market Day, MTU Aero Engines AG provided an initial outlook for 2021. The company expects the clearest recovery from the effects of the coronavirus crisis to be in the commercial maintenance business. The spare parts and military business should also pick up. In 2021, commercial series business is expected to remain at the 2020 level. “All market analyses indicate that aviation will remain a growth business in the long term,” said Reiner Winkler, CEO of MTU Aero Engines AG. “We see the coming years as a restart phase in which we will use our technological leadership, innovative strength and flexibility to extend our good starting position, so that we can derive above-average benefit from the growth of the sector from 2024.” MTU will be able to capitalize on its future-oriented product portfolio, diversified customer base and solid financial structure. Winkler: “We will continue to focus on organic growth in the future.”

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In the first nine months 2020, MTU Aero Engines AG generated revenue of €2,956.6 million (1-9/2019 €3,403.7 million). The operating profit was €310.8 million, compared with €557.7 million in the prior-year period. The EBIT margin was 10.5% (1-9/2019: 16.4%). In line with adjusted EBIT, adjusted net income dropped from €391.7 million to €219.2 million.

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In the first six months of 2020, MTU Aero Engines AG generated revenue of €2,048.8 million; in the first half of 2019 revenue was €2,243.0 million. Operating profit was €224.2 million, compared with €365.2 million in the prior-year period. The EBIT margin was 10.9% in the first six months of 2020 (1-6/2019: 16.3%). Net income declined from €261.0 million to €161.3 million. “The figures reflect the first effects of the coronavirus pandemic,” said Reiner Winkler, CEO of MTU Aero Engines AG.

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The Executive Board of MTU Aero Engines AG has published a new forecast for the 2020 fiscal year. “Our new outlook is based on the aircraft manufacturers’ updated production rates and delivery schedules. The forecast also takes into account the latest estimates for the development of the aftermarket business, based on the expected development of air traffic volume,” commented Reiner Winkler, CEO of MTU Aero Engines AG.

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The Supervisory Board of MTU Aero Engines AG has extended the contract for Chief Program Officer Michael Schreyögg for a further five years until the end of June 2026.

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Due to the impact of the coronavirus pandemic on international aviation, MTU Aero Engines AG plans to adjust its personnel capacities. By the end of 2021, the company aims to reduce capacity at its German and international locations by a total of around 10 to 15 percent.

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MTU Aero Engines AG successfully placed a bond in the aggregate principal amount of € 500 million in the capital markets. The bond has a five-year term, expiring on 1 July 2025, and a coupon of 3.0 % per annum. The proceeds of the new issue will be used for general corporate purposes including refinancing of existing financial liabilities.

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In the first quarter of 2020, MTU Aero Engines generated revenue of €1,272.7 million, an increase of 13% compared with the prior-year period (1-3/2019 €1,131.2 million). The operating profit declined by 3% from €187.6 million to €181.8 million due to the revenue mix. The adjusted EBIT margin was 14.3% (1-3/2019: 16.6%). Adjusted net income was €128.0 million, compared with €133.5 million in the prior-year period. 

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Following the current three-week suspension of operations, MTU Aero Engines is planning a gradual restart of operations at its German sites. Capacities will be increased according to demand and the situation in the supply chain. Extensive measures have been prepared to protect employees’ health.

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