MTU Aero Engines Reports 9-Month Loss Before Tax and Revenue Down

Oct. 27, 2023

Berlin — German aircraft engine manufacturer MTU Aero Engines on Friday reported a loss before interest and taxes of €410 million ($433 million) for the 9-month period, compared with earnings of €331 million in the same period a year ago.

The company said its figures were affected by exceptional charges of about €1 billion for the Geared Turbofan inspection programme.

Excluding one-time items, the company posted adjusted earnings before interest and taxes or EBIT of €597 million, higher than €448 million last year.

MTU Aero Engines incurred a net loss of €312 million or 5.86 cents per share for the period compared with net profit of €212 million or 3.97 cents per share in the previous year.

Adjusted net income was €438 million at end-September, an increase of 37% from last year.

Revenue for the 9-month period declined to €3.653 billion from €3.818 billion a year ago.

Adjusted revenue, however, increased to €4.610 billion from €3.818 billion in the previous year.

©2023 dpa GmbH. Distributed by Tribune Content Agency, LLC.