MTU Aero Engines reports strong results in 1H2016, reaffirms full year guidance

MTU Aero Engines revenue up 4% - financial highlights for six months ended 30-Jun-2016:

• Revenue: EUR2299 million, +4.4% year-on-year;
• • OEM business: EUR1441 million, -1.8%;
  • • Commercial engine business: EUR1201 million, -4.1%;
  • Commercial maintenance business: EUR893.3 million, +18.4%;
• Operating profit: EUR254.1 million, +19.4%;
• • OEM: EUR169.5 million, +21.8%;
  • Commercial MRO business: EUR84.5 million, +15.0%;
• Net profit: EUR158.6 million, +52.5%;
• Research and development expenditure: EUR113.6 million, +11.4%;
• Order backlog: EUR11,545 million;
• • OEM business: EUR6141 million;
  • Commercial MRO business: EUR5404 million. [more - original PR]

MTU Aero Engines: "Above all, these figures reflect the delays of the PW1100G-JM for the A320neo. We expect revenues to pick up in the second half of the year, when the ramp up of this program is scheduled," Michael Schreyögg, Chief Program Officer. Source: Company statement, 26-Jul-2016.