BERLIN (dpa-AFX) - Engine manufacturing company MTU Aero Engines AG (MTUAY) on Wednesday reported improved sales and profit for the first half.
The company's adjusted income increased 53 percent to 207 million euros, from 135 million euros in the first half of 2021.
Net income for the period was 120 million euros or 2.23 per share as compared to 103 million euros or 1.89 per share in the prior-year period.
Adjusted EBIT increased 53 percent to 290 million euros, from 190 million euros in the prior-year period.
MTU Aero Engines reported 23 percent growth in first-half revenue to 2.47 billion euros, versus 2.00 billion euros in the first half of 2021.
The company also confirmed its guidance for the full year. The company's forecast is based on an U.S. dollar exchange rate of 1.10, versus the earlier guidance of 1.15.
All business areas at MTU generated higher revenue than in the first half of 2021.
Both of MTU's operating segments improved their half-year results.
MTU is retaining its guidance on fiscal 2022. The company expects revenue for the year to be between 5.2 billion euros and 5.4 billion euros. Adjusted EBIT is seen increasing in the mid twenty-percent range. Net income is expected to rise in line with operating profit.
Shares of MTU Aero Engines closed Tuesday's trading at $97.28, down $0.16 or 0.16 percent from the previous close.
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