BERLIN (dpa-AFX) - MTU Aero Engines AG (MTUAY.PK), a German aircraft engine maker, reported that its net income for fiscal year 2022 climbed 39% to 476 million euros from 342 million euros in the prior year.
Operating profit increased by 40% year-over-year to 655 million euros.
Annual revenue also increased by 27% to 5.3 billion euros from 4.2 billion euros in the prior year.
The company's executive board will propose a dividend of 3.20 euros. This will be put to the Supervisory Board when it meets on March 21 to adopt the financial statements as a recommendation for a resolution at the Annual General Meeting. For 2021, MTU paid a dividend of 2.10 euros per share.
MTU now expects revenue to be between 6.1 billion euros and 6.3 billion euros in 2023. In November 2022, it forecast that revenue would be between 6.4 billion euros and 6.6 billion euros. The revised guidance is mainly due to a change in our assumption on the US dollar exchange rate.
MTU now expects a stable adjusted EBIT margin in 2023. Its previous guidance was for an increase in adjusted EBIT in the low twenty-percent range.
The company said it wants to continue to grow beyond 2023. The company's target formula is 8 - 1 - 25, in other words: revenue of 8 billion euros and earnings of 1 billion euros in 2025.
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