MTU Aero Engines has reported a revenue increase of 11% in its Q1 2019 results, up to €1.13 million from €1 million experienced during the same period last year.
The group’s operating profit also grew by 7% to €188 million, up from €175 million, resulting in an adjusted EBIT margin of 16.6%.
In the first quarter, MTU recorded the highest revenue growth in the commercial engine business.
Revenues in this division increased by 21% from €319 million to €386 million, which the group has attributed to the V2500 engine for the classic A320 family as well as the PW1100G-JM for the A320neo and the GEnx engine that powers the Boeing 787 and 747-8.
“These results confirm our assumptions for our full-year business development,” said Reiner Winkler, CEO of MTU Aero Engines AG. “We therefore maintain our prediction of continued profitable growth in all operating segments.“
Meanwhile, revenues in the commercial maintenance business increased by 6%, rising from €618 million in the first quarter of 2018 to €655 million.
“Revenues were somewhat slowed by changes in the ordering and billing process for V2500 maintenance services,” commented CFO Peter Kameritsch. “But demand remained unabated, as evidenced by the organic growth in the MRO segment, which amounted to around 9 % in the first quarter. The main revenue driver in the commercial maintenance business was the V2500.