MTU Aero Engines reports profit growth in 1H2014, adjusts full year guidance

MTU Aero Engines revenue up 2% - financial highlights for six months ended 30-Jun-2014:

• Revenue: EUR1816 million, +2.3% year-on-year;
• • OEM: EUR1258 million, +6.9%;
  • • Commercial engine business: EUR1033 million, +8.3%;
  • Commercial MRO business: EUR572.9 million, -6.6%;
• EBIT: EUR170.7 million, +0.6%;
• • OEM business: EUR122.5 million, +6.2%;
  • Commercial MRO business: EUR48.0 million, -11.6%;
• Net profit: EUR86.8 million, +18.9%;
• 2014 forecast:
• • Revenue: EUR3650 million, down from its previous forecast of EUR3750 million;
  • Operating profit: EUR375 million. [more - original PR]

MTU Aero Engines: "Our revenues up to the end of June 2014 were impacted by exchange rate effects and by the deferral of orders in the MRO segment. We have therefore revised our full-year revenue forecast. Our net income forecast, on the other hand, has been raised," Reiner Winkler, CEO. Source: Company statement, 24-Jul-2014.