WASHINGTON (dpa-AFX) - German aircraft engine manufacturer MTU Aero Engines AG (MTUAY.PK, MTX.DE) reported Thursday higher profit and revenues in its third quarter, while order backlog was lower than last year.
Looking ahead, Johannes Bussmann, CEO of MTU Aero Engines, said, 'Yet again, these strong results demonstrate MTU's outstanding market position and operational performance. We are now able to provide a more precise guidance for the full year. 2025 is set to be another excellent year for MTU.'
The company now anticipates a mid-twenties percentage increase in adjusted EBIT for 2025, hitting the upper end of the previous guidance range, and free cash flow of between 350 million euros and 400 million euros.
The company's previous guidance assumed a percentage increase in the low to mid-twenties for adjusted EBIT, and free cash flow of 300 million euros to 350 million euros.
Adjusted net income and adjusted EBIT are likely to rise in tandem in 2025.
Further, MTU continues to expect annual revenue of 8.6 billion euros to 8.8 billion euros, with contribution in expected growth from all business areas.
Commercial maintenance is likely to see the strongest gains, with percentage growth in organic revenue reaching the mid to high teens.
In the third quarter, net income grew to 250 million euros from last year's 211 million euros. Basic earnings per share were 4.63 euros, up from 3.90 euros a year ago.
Adjusted net income was 241 million euros or 4.46 euros per share, compared to 199 million euros or 3.68 euros per share in the prior year.
Adjusted EBIT grew to 339 million euros from last year's 273 million euros. The adjusted EBIT margin increased to 15.8 percent from 14.7 percent a year ago.
Adjusted EBITDA improved to 422 million euros from 383 million euros last year.
The company's revenue in the quarter climbed to 2.132 billion euros from 1.897 billion euros a year ago. Adjusted revenue was 2.138 billion euros, compared to 1.864 billion euros last year.
The order backlog was 24.1 billion euros at the end of September, compared with 28.7 billion euros at year-end 2024. The largest proportion of orders on hand was for engines from the Pratt & Whitney GTF family, especially the PW1100G-JM and the V2500.
In Frankfurt, MTU shares were trading at 381.10 euros, up 1.09 percent.
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