MTU Aero Engines revenue down 4%

MTU Aero Engines revenue down 4% - financial highlights for the 12 months ended 31-Dec-2009:

• Revenue: EUR2,611 million, -4% year-on-year;
  • OEM: EUR1,586 million, -3%;
    • OEM Commercial: EUR1,054 million, -8%;
  • MRO: EUR1,058 million, -5%;
• EBITDA: EUR373.3 million, -9%;
  • OEM: EUR285.5 million, -14%;
  • MRO: EUR90.0 million, +14%;
• EBIT: EUR246.9 million, -1%;
• Adjusted EBIT: EUR292.3 million, -12%;
  • OEM: EUR229.2 million, -18%;
  • MRO: EUR65.3 million, +20%;
• EBT: EUR207.5 million, +5%;
• Net profit: EUR141.0 million, -22%;
• Order backlog: EUR4,151 million, +3.4%;
  • OEM: EUR3,965 million, +2%;
    • Commercial Business: EUR3,662 million, +9%. [more]

MTU Aero Engines: "The aviation market is expected to stabilize in 2010. Passenger and freight traffic will gradually start to revive, as will the business jet sector. This recovery will be driven principally by the Asia-Pacific region and the Middle East. MTU is well positioned in this market environment, thanks to its business model and local presence in the major growth markets. In 2010, the company expects to generate revenues on the level of last year. Operating profit (EBIT adjusted) and net income are also expected to develop along stable lines. MTU's ongoing investments in the future again involve high research and development expenditure in connection with new engine programs. Despite this, MTU anticipates a free cash flow in the order of EUR100 million for 2010," Company statement. Source: MTU Aero Engines, 24-Feb-2010.