In This Article:
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Revenue: Adjusted revenue increased by 18% to approximately EUR7.5 billion.
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EBIT: Adjusted EBIT exceeded EUR1 billion, with a 29% increase to EUR1.05 billion and an EBIT margin of 14%.
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Net Income: Adjusted net income grew by 29% to EUR764 million.
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Free Cash Flow: Adjusted free cash flow was EUR183 million, down 48% due to GTF management plan payments and supply chain volatility.
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OEM Segment Revenue: Increased by 14% to more than EUR2.5 billion.
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Military Revenue: Grew by 14% to EUR612 million.
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Commercial Business Revenue: Rose by 15% to EUR1.9 billion.
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MRO Segment Revenue: Increased by 20% to nearly EUR5.1 billion.
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Dividend Proposal: EUR2.20 per share, a EUR0.20 increase from the previous year.
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Corporate Bond: Raised EUR750 million with a 3.875% coupon and a seven-year term.
Release Date: February 19, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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MTU Aero Engines AG (MTUAF) achieved an EBIT exceeding EUR1 billion for the first time, one year ahead of schedule.
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The company reported a robust growth in total adjusted revenue, increasing by 18% to approximately EUR7.5 billion.
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MTU Aero Engines AG (MTUAF) secured contract wins totaling USD5.6 billion in the commercial MRO sector, demonstrating strong demand.
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The GTF Advantage program is on track for final FAA certification in H1 2025, with first deliveries expected within the year.
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The company announced a dividend proposal of EUR2.20 per share, a EUR0.20 increase from the previous year, reflecting confidence in future growth.
Negative Points
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Supply chain challenges continue to impact new aircraft deliveries, affecting the overall market environment.
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The GTF fleet management plan will continue to have financial impacts on free cash flow in 2025 and 2026.
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MTU Aero Engines AG (MTUAF) experienced a significant increase in receivables due to delayed payments for GTF shop visits.
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The company is undergoing management changes, with both the CEO and CFO set to leave, which may cause transitional challenges.
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Free cash flow was down 48% to EUR183 million, influenced by payments for the GTF management plan and volatile supply chain issues.
Q & A Highlights
Q: Can you clarify the EUR96 million acquisition payments in the free cash flow statement? A: We made investments in further business opportunities, which we will disclose in the coming weeks or months, possibly in Q1 2025. These are positive investments into future business opportunities. (Peter Kameritsch, CFO)