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mtu aero engines ag (MTX) Snapshot

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mtu aero engines ag (MTX) Details

MTU Aero Engines AG, together with its subsidiaries, develops, manufactures, markets, and supports commercial and military aircraft engines and industrial gas turbines in Germany and internationally. It operates in two segments, Original Equipment Manufacturing; and Maintenance, Repair and Overhaul. The company manufactures, assembles, and delivers commercial and military engines and components; and maintains, repairs, and overhauls aircraft engines and industrial gas turbines. It also provides technical and logistic support services, and custom-tailored training offerings for military engines. In addition, the company offers brush seals for use in aircraft engines, steam and gas turbines, pumps, and various other mechanical engineering applications. Further, it offers MANTIS, a bug-tracking system used by the external software developers for the engine projects; and Teamcenter portal, an external document management system that offers access to documents comprising drawings or specifications, as well as maintains and repairs commercial engines and components; leases engines; and provides teardown services for retired engines. The company was formerly known as MTU Aero Engines Holding AG and changed its name to MTU Aero Engines AG in May 2013. MTU Aero Engines AG was founded in 1913 and is headquartered in Munich, Germany.

8,292 Employees
Last Reported Date: 07/24/14
Founded in 1913

mtu aero engines ag (MTX) Top Compensated Officers

Chief Executive Officer, Chief Financial Offi...
Total Annual Compensation: €5.5M
Chief Operating Officer and Member of Managem...
Total Annual Compensation: €648.3K
Member of Management Board, Chief Executive O...
Total Annual Compensation: €648.3K
Chief Program Officer and Member of Managemen...
Total Annual Compensation: €244.6K
Compensation as of Fiscal Year 2013.

mtu aero engines ag (MTX) Key Developments

MTU Aero Engines Announces Operating Results for the Year to Date Ended May 2014; Announces Earnings Results for the Second Quarter of Fiscal 2014; Provides Revenue Guidance for the Second Half and Earnings and Operating Guidance for the Full Year of Fiscal 2014

MTU Aero Engines announced operating results for the year to date ended May 2014. For the year to date ended May, passenger traffic continued with a strong growth of 6.2%, especially carriers in Middle East and Asia-Pacific recorded the strongest increase, rising 14% and 7%. The company announced earnings results for the second quarter of fiscal 2014. For the quarter, the company announced that the revenues increased by 2% to EUR 1.8 billion. The group EBIT is flat at EUR 171 million. The net income increased by 4% to EUR 111 million, resulting in an earnings per share of EUR 2.18. Free cash flow is at EUR 18 million. EBIT adjusted was slightly up EUR 123 million. The company provided revenue guidance for the second half and earnings and operating guidance for the full year of fiscal 2014. For the second half of 2014, the company expects a moderate revenue growth. The company now expects to achieve group revenues of around EUR 3.65 million. Overall, the company now expects a group EBIT of around EUR 375 million and despite the flat EBIT, the net income will increase to around EUR 245 million due to the lower underlying tax rate of 30% for the full year 2014. The company expects passenger traffic growth outlook of 6% for the total year of 2014.

MTU Aero Engines AG Proposes Dividend for the Year 2013

MTU Aero Engines AG will propose a dividend of EUR 1.35 per share for the year 2013 at its upcoming AGM.

MTU Aero Engines AG Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reaffirms Earnings Guidance for 2014

MTU Aero Engines AG reported consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported that group revenues remained stable at €913.0 million compared to €906.0 million reported a year ago. Operating profit amounted to €89.0 million compared to €88.3 million reported a year ago, resulting in an unchanged EBIT margin of 9.7%. Earnings after tax also reached the previous year's level, and amounted to €56.0 million compared to €55.5 million reported a year ago. First-quarter revenues were impacted by currency translation effects. An additional factor was the relatively high comparative 2013 figure for the commercial maintenance business, which was due to revenue deferrals. Free cash flow amounted to €1.1 million compared with €2.1 million in the first quarter 2013. The company boosted capital expenditure on property, plant and equipment by 37% to a total of €22.8 million compared to €16.6 million reported a year ago. This money has been spent on projects related to the ramp-up of the geared turbofan programs, such as purchasing machinery for the blisk manufacturing facility and constructing a new logistics center in Munich, as well as expanding the capacity of MTU Aero Engines Polska. Net income was €46.8 million or €0.92 per undiluted share compared to €36.8 million or €0.73 per undiluted share reported a year ago. Net financial debt was also stable at roughly €400 million. Cash flow was stable around breakeven. The full-year forecasts for the financial year 2014 are unchanged. In the further course of the year, the company expects revenues to grow to its forecast value of approximately €3,750 million. Within that, the company expects the new engine sales to grow by around 10%; spare parts to grow mid-single digit; and the commercial MRO to grow by mid- to high-single digit percentage, where at the same time, it expects military sales to decrease by 10%. The group EBIT is expected to remain stable on the level of 2013. The net income adjusted, it expects stable on the level of last year. The company expects stable earnings after tax. Objective for 2014 is to generate a balanced or even slightly positive free cash flow. The company expects capex in the range of €100 million for the full year.


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