EQS-Adhoc: MTU Aero Engines AG raises 2024 earnings guidance based on preliminary quarterly results

Publication of inside information pursuant to Article 17 MAR

MTU Aero Engines AG raises 2024 earnings guidance based on preliminary quarterly results

Munich, October 15, 2024 | Based on preliminary figures for the first nine months of 2024, MTU Aero Engines AG is raising its earnings guidance for the financial year 2024: the company is forecasting an adjusted EBIT of slightly over one billion euros. Until now, MTU expected an adjusted EBIT of between 0.95 and 0.98 billion euros. This adjustment is based on strong development in all business areas in a continually challenging market environment.

In the first nine months of 2024, MTU preliminarily generated adjusted revenue of 5.29 billion euros. Of which, 1.79 billion euros come from the OEM business segment and 3.58 billion euros from the commercial maintenance business – prior to consolidation effects. Adjusted EBIT was 744 million euros as per September 2024 and the adjusted EBIT margin 14.0%. Of which, 444 million euros came from the OEM business segment and 300 million euros from commercial maintenance, also prior to consolidation effects. Free cash flow was at 213 million euros as of September.

Revenue and free cash flow guidance remains unchanged: MTU is forecasting revenue between 7.3 and 7.5 billion euros. Free cash flow should be in the low triple-digit million euro range in 2024.

MTU Aero Engines AG will publish detailed financial figures for the first nine months of 2024 in its quarterly statement on 24th October 2024. 

---------------------------------------------------  About MTU Aero Engines  ---  ----------------------------------------------

MTU Aero Engines AG is Germany’s leading engine manufacturer. The company is a technological leader in low-pressure turbines, high-pressure compressors, turbine center frames as well as manufacturing processes and repair techniques. In the commercial OEM business, the company plays a key role in the development, manufacturing and marketing of high-tech components together with international partners. Some 30 percent of today’s active aircraft in service worldwide have MTU components on board. In the commercial maintenance sector the company ranks among the top 3 service providers for commercial aircraft engines and industrial gas turbines. The activities are combined under the roof of MTU Maintenance. In the military arena, MTU Aero Engines is Germany's industrial lead company for practically all engines operated by the country’s military. MTU operates a network of locations around the globe; Munich is home to its corporate headquarters. In fiscal 2023, the company had a workforce of more than 12,000 employees and posted consolidated sales of 6.3 billion euros.

www.mtu.de | MTU Aero Engines | mtu_aero_engines | MTU Aero Engines | @MTUaeroeng

---------------------------------------------------------------  Contact  -------------------------------------------------------------------

Thomas Franz | Vice President Investor Relations | +49 (0) 89 -1489 4787 | [email protected]

Claudia Heinle | Senior Manager Investor Relations | +49 (0)89 -1489 3911 | [email protected]

Matthias Spies | Senior Manager Investor Relations | +49 (0)89 -1489 4108 | [email protected]