BERLIN (dpa-AFX) - MTU Aero Engines AG (MTUAY.PK) reported that its net income for the fourth-quarter increased to 116.5 million euros from 68.6 million euros in the previous year. Earnings per share grew to 2.22 euros from 1.30 euros in the prior year.
Revenues for the quarter rose to 1.25 billion euros from 996.6 million euros in the previous year.
The Supervisory Board propose that the Annual General Meeting pass a resolution to pay a dividend of 2.85 euros per share for the financial year 2018. MTU distributed a dividend of 2.30 euros per share for 2017.
'MTU Aero Engines AG continued to drive profitable growth in 2018. By not only achieving our target figures, but even slightly surpassing them, we reliably met our commitments to the capital market,' said Reiner Winkler, CEO of MTU Aero Engines AG.
MTU revised its earnings forecasts upwards twice in the course of the year, for the second time in October, targeting reve-nues of around 4.4 billion euros in 2018. The earnings forecasts were for an EBIT adjusted of approx-imately 660 million euros and net income adjusted of approximately 470 million euros in 2018.
MTU expects to generate revenues of around 4.7 billion euros in 2019. 'All business units are geared for growth,' added CFO Peter Kameritsch. In 2019, the commercial series production business looks set to become the fastest growing segment with an organic revenue increase in the low teens. Revenue growth in the mid- to high-single-digit percentage range is projected for the spare parts business in 2019, while revenues in the military engine business are expected to grow by 10 %.
MTU's revenue forecast for its commercial maintenance business is for an organic growth rate in the high-single-digit percentage range. Operating profit and net income adjusted are expected to increase in equal measure (EBIT adjusted, 2018: € 671.4 million, net income adjusted, 2018: € 479.1 million).
The Supervisory Board propose that the Annual General Meeting pass a resolution to pay a dividend of 2.85 euros per share for the financial year 2018.' MTU distributed a dividend of 2.30 euros per share for 2017.
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