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MTU Aero Engines Holding AG: first half-year confirms growth trend
Munich – MTU Aero Engines Holding AG has successfully completed the first half-year of 2005. Sales increased by about 125 million € (+14 %) to 1,025.7 million €. Earnings before interest, taxes, depreciation, amortization and special items (EBITDA), calculated on a comparable basis, improved by 59 % from 64.5 million € to 102.3 million €. Especially positive is the development of cash flow from operating activities, which increased from 50.9 million € to 232.8 million €. “We are satisfied with the course of business and the results for the first half of the year 2005,” commented Udo Stark, president and CEO of MTU Aero Engines Holding AG. “The results attained confirm our growth targets for 2005 in sales and earnings, and the positive trend in liquidity permits further improvement of the capital structure. This has also reflected in the positive development of the price of our share since the IPO.”