Industry Addendum
MTU Aero Engines upgrades 2017 profit forecast
December 1st 2017
Germany’s leading engine manufacturer, MTU Aero Engines, has reported a 17% profit jump for the nine months to September 30 and revised upwards its predicted profit for the full year to Euros 390 million (US$452.0 million). Read More »
 |
MTU Aero Engines CEO, Reiner Winkler, said: “Based on these results [for the reported nine months] and the positive effects on earnings that we can now expect to derive from our product mix, we are able to raise our earnings forecast for this year.”
The strongest performer in the MTU stable for the nine months was its commercial MRO business where revenues grew by 26% to Euros 1.727 million. Winkler said MRO demand for V2500 engines that power the A320 family was particularly strong. “Our engine leasing and asset management business also contributed significantly to revenue,” said MTU chief program officer, Michael Schreyogg.
Commercial engine revenue rose 5%, from Euros 1.738 million to Euros 1.821 million. “For 2017, as a whole, we expect spare parts revenue to be stronger than projected and revenues from commercial engine production to grow slightly less strongly,” Winkler said.
“In the spare parts business, we are looking at a rise of around 10% in $US terms and in series production an increase in the mid to high single digit range. Engine revenue came from the V2500, the GEnx for the B787 and the PW1100G-JM for the A320neo.”
