Based on preliminary figures – for the first nine months of the year - MTU Aero Engines is raising its guidance for the financial year, with the company forecasting an adjusted EBIT of slightly over €1 billion ($1.09 billion).
MTU expected an adjusted EBIT of between €0.95 ($1.03 billion) and €0.98 billion ($1.06 billion). “This adjustment is based on strong development in all business areas in a continually challenging market environment,” said the company.
In the first nine months of 2024, MTU preliminarily generated an adjusted revenue of €5.29 billion ($5.76 billion), of which €1.79 billion ($1.95 billion) came from the OEM business segment and €3.58 billion ($3.9 billion) came from the commercial maintenance business, prior to consolidation effects.
Adjusted EBIT was €744 million ($811 million) as per September of this year, from which €444 million ($484 million) came from the OEM business segment and €300 million ($327 million) came from commercial maintenance, also prior to consolidation effects.
Free cash flow was at €213 million ($232 million) as of September.
Despite the adjustments - revenue and free cash flow guidance remains unchanged - with MTU forecasting revenue between €7.3 and €7.5 billion ($7.9 billion and $8.1 billion). The company also projects that free cash flow should be in the low triple-digit million-euro range in 2024.
MTU will publish its financial figures for the first nine months of 2024 in its quarterly statement on October 24, 2024.