MTU Aero Engines said its first-quarter revenues reached €1.54bn, with its maintenance, repair and overhaul operations making up just over £1bn of the total. “Before consolidation effects, the OEM segment accounted for €549 million”, MTU said of the results, which it described as “well above market expectations” of €1.41bn in revenue. The German company’s adjusted earnings reached €212 million, more than the expected €172 million, and 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” MTU’s statement showed. Free cash

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