MTU Aero Engines Holdings’ nine-month results for 2010 show that the firm is on track to achieve its yearly targets. Revenues increased by 2% to €1,992.3 million after €1,954.9 in the previous year. MTU boosted its earnings by 7% to €226.1 million. At 11.3%, the EBIT margin was up 0.5 percentage points compared with the same period in 2009, while the company's net income improved by 7% to € 99.6 million.
Egon Behle, CEO of MTU Aero Engines, said: "These results demonstrate that MTU is well on track to achieve its targets for the year, and enable us to confirm our forecast for 2010 – even if the revised forecast in July was based on a more favourable US dollar-euro exchange rate than actually materialized. We particularly expect our OEM segment to grow in the fourth quarter 2010."
For the financial year 2010, MTU is anticipating revenues of around €2,750 million, while operating profit is set to reach €310 million compared to €292.3 million in 2009. Annual net income is comparable with 2009 number at €140 million.