MTU Aero Engines AG generated revenues and earnings in the first quarter of 2023 that were well above market expectations. The company is maintaining its full-year forecast.
Based on preliminary figures for the first quarter, revenues reached €1.54 billion. Before consolidation effects, the OEM segment accounted for €549 million and the MRO segment for €1.02 billion.
Adjusted earnings reached €212 million, corresponding to an EBIT margin of 13.7%. Before consolidation effects, MTU generated adjusted earnings of €141 million in the OEM segment and €70 million in the commercial MRO segment.
Market expectations for the quarter were €1.41 billion in revenue and €172 million in adjusted earnings.
Free cash flow of €93 million was in line with market expectations of €97 million.
Details of MTU Aero Engines AG’s financial results for the first quarter of 2023 will be published when the quarterly statement is presented on April 26, 2023.
