MTU Aero Engines reports record results

Germany's MTU Aero Engines has built on the record year of 2012 with an increase in its business figures for 2013.
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The company announced its results this morning and showed an increase in revenues to a record €3,741.7 million (2012: €3,378.6 million). It also enjoyed a €377.3 million, operating profit.
“Revenues have fully met our expectations. We achieved the targets updated at mid-year for our results, which shows that MTU remains a strongly profitable enterprise”, said Reiner Winkler, CEO of MTU Aero Engines at this morning’s press conference.
The company also cited growth in air passenger traffic in 2014 Particularly the Asia-Pacific region, the Middle East, and Latin America will continue to offer good growth prospects. “Due to the upcoming full-scale production of the GEnx and the increase in deliveries of the V2500 program, the trend toward strong new engine business in 2014 will continue”, said Winkler. “Our new engine business will probably grow at a faster rate than the much more profitable spare parts business in 2014. We are thus paying particular attention to our revenue and cost structures and took measures in 2013 to further improve them.”
MTU expects its revenues in the new engine business to increase by around 10% in U.S. dollar terms. Commercial spare parts sales are expected to rise by a mid single-digit percentage figure expressed in U.S. dollars, while MTU anticipates a decline of around 10% in revenues in the military engine business.
MTU’s commercial maintenance business expects to see a growing demand for maintenance services for the GE90 and V2500 programs. Revenue growth in this segment will be within the mid to high single-digit percentage range, expressed in U.S. dollars.