Chief Executive Johannes Bussmann pointed to consistently high demand for products and services as the primary driver for the second upward revision of the company's cash conversion rate this year, now set at 55% to 60%. The firm, a critical partner for Airbus and Boeing, remains a fixture in global aviation, with its components powering one-third of the world’s commercial fleet.
In section Market Quotes
MTU Aero Engines Lifts Guidance on Maintenance Surge
German manufacturer MTU Aero Engines raised its annual revenue and cash conversion targets, fueled by relentless demand in commercial maintenance and favorable exchange rates. The company now expects revenue to hit between 9.5 billion and 9.7 billion euros, tightening its outlook as the aerospace sector grapples with high engine utilization.
Third-quarter sales reached 2.42 billion euros, outpacing the 2.37 billion euros forecast by market analysts. Commercial maintenance operations proved the most lucrative segment, generating 1.72 billion euros alone. Despite the top-line strength, net profit dipped to 227 million euros from 250 million euros a year ago. Investors focused instead on adjusted net profit, which climbed to 249 million euros, though this still fell slightly short of the 252 million euros consensus estimate. MTU maintained its annual adjusted EBIT target, holding steady in the range of 1.35 billion to 1.45 billion euros.
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