27-Mar-2020 8:52 AM

MTU Aero Engines withdraws 2020 guidance due to coronavirus

MTU Aero Engines withdrew (26-Mar-2020) its guidance for FY2020 due to the COVID-19 situation. The company's previous guidance was issued on 20-Feb-2020. MTU's s decision is based on the assessment of market scenarios presently deemed likely, and on a catalogue of expenditure reduction measures. Due to significant reductions in passenger air traffic and the consequences for airlines, revenues and adjusted EBIT for FY2020 are expected not to grow with a high single digit percentage as forecast. The cash conversion rate (ratio of free cash flow to net income adjusted) is also likely not to reach the forecast 70% in 2020. [more - original PR]

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More