MTU Aero Engines Shows Strong Q1 Operating Performance

MTU Aero Engines Holding AG improved its revenues in the first quarter 2011 by 4 % to € 664.8 million (1-3/2010: € 640.2 million). The company’s operating profit rose by 17 % to € 80.5 million, compared with € 68.8 million in the same quarter of the previous year. This brought the operating margin up to 12.1 % compared with 10.7 % in the first three months of 2010. At € 40.4 million, net income remained stable (1-3/2010: € 40.1 million). “The growth in operating profit exceeds our forecast for the year as a whole, while net income has remained stable as expected. We expect the revenue growth rate to increase in the course of the year, as the sales mix variance continues to evolve. I thus remain optimistic that we will reach our targets and reaffirm our full-year forecast for 2011,” Egon Behle, CEO of MTU Aero Engines Holding AG, commented, referring to the forecast for the financial year 2011.

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