MTU Aero Engines Q2 Results Up; Revises FY21 Guidance

MTU Aero Engines AG (MTUAY.PK) reported second-quarter net income of €54 million or €0.98 basic per share versus €13 million or €0.20 per share in the prior year period.

On an adjusted basis, net income amounted to €77 million, higher than the previous year's €33 million.

Revenue for the quarter was €1.015 billion compared to €776 million generated in the same period of last year.

Reiner Winkler, CEO of MTU Aero Engines AG, said, "We are somewhat more optimistic than previously about the commercial series business and the military business, but have slightly reduced our forecast for commercial maintenance. Overall, we are slightly increasing the lower end of our target ranges for both revenue and earnings."

MTU now expects full-year revenue to be around €4.3 billion - €4.5 billion. Previously, the company's guidance was for a revenue range of between €4.2 billion and €4.6 billion.

The adjusted EBIT margin is expected to be between 10% and 10.5% in 2021; the previous guidance was between 9.5% and 10.5%. Adjusted net income is likely to develop in line with the operating profit.

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