MTU Aero Engines AG
F:MTX

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MTU Aero Engines AG Logo
MTU Aero Engines AG
F:MTX
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Price: 292.2 EUR -0.92%
Market Cap: €15.7B

MTU Aero Engines AG
Investor Relations

MTU Aero Engines AG designs, manufactures, and services aircraft engine parts and modules. It is best known for making critical components for large jet engines, especially low-pressure turbines, turbine center frames, and other hot-section parts that have to withstand extreme heat and stress. The company also helps build complete engines through partnerships with other engine makers, rather than selling lots of finished engines under its own brand. Its customers are mainly commercial airlines, engine manufacturers, military users, and maintenance providers. MTU earns money in two main ways: by selling engine parts and modules, and by servicing engines and components over many years after they enter service. That maintenance work is important because jet engines need regular overhaul, repair, and replacement parts throughout their life. What makes MTU different is its role deep inside the aircraft engine supply chain. It is not a full aircraft maker or a standalone engine brand for most of the market; instead, it is a specialist partner that supplies hard-to-make components and long-term support. That gives it a business tied to both new aircraft production and the much larger installed base of engines already flying.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 30, 2026
AI Summary
Q1 2026

Strong quarter: MTU said Q1 2026 was a very successful start to the year, with revenue up 7% to EUR 2.244 billion and adjusted EBIT up 6% to EUR 320 million.

Cash generation: Free cash flow rose 18% to EUR 177 million, but management said quarterly cash conversion is not a good run-rate and reaffirmed full-year cash conversion guidance of 45% to 55%.

Guidance confirmed: The company strongly reaffirmed its full-year 2026 outlook, saying it does not expect any major adverse impact from the Middle East conflict at this point.

Demand holding up: Management said OEM, MRO, spare parts, and military demand remain robust, with no cancellations, no meaningful deferrals, and no sign of weakness in shop visit demand.

Strategic move: MTU highlighted the AeroDesignWorks acquisition as a step into military drones and UAV propulsion, but said it is not ready to give revenue numbers yet.

GTF progress: The GTF fleet management plan remains on track, MRO output increased 23%, AOGs are trending down, and the company expects continued improvement through 2026.

Key Financials
Revenue
EUR 2.244 billion
Adjusted EBIT
EUR 320 million
Adjusted EBIT margin
14.2%
Adjusted net income
EUR 229 million
Free cash flow
EUR 177 million
Cash conversion rate
77%
Commercial MRO revenue
20% growth in U.S. dollar terms
Commercial spare parts revenue
10% growth in U.S. dollar terms
Military revenue
EUR 142 million
OEM revenue
EUR 621 million
Commercial OEM revenue
EUR 479 million
Commercial MRO revenue share
44%
GTF MRO output
up 23%
GTF AOG payments
around USD 60 million
Net debt
approximately EUR 1.1 billion
Net debt-to-EBITDA
clearly below 1
Convertible bond issuance
EUR 600 million
Bond repurchase
EUR 500 million
Dividend per share
EUR 3.60
Payout ratio
20%
Order book
around EUR 32 billion
GTF remaining order book
8,000 engines
GTF flight hours
over 50 million
Fort Worth CapEx
around EUR 120 million
Fort Worth free cash flow headwind
around EUR 100 million
Hedge rate
USD 1.13
Earnings Call Recording
Other Earnings Calls

Management

Mr. Peter Kameritsch
CFO, Chief Information Officer & Member of the Executive Board
No Bio Available
Mr. Michael Schreyogg
Chief Program Officer & Member of the Executive Board
No Bio Available
Dr. Silke Maurer
COO & Member of Executive Board
No Bio Available
Mr. Thomas Franz
Vice President of Investor Relations
No Bio Available
Marc Sauber
Senior Vice President of Corporate Communication & Public Affairs
No Bio Available

Contacts

Address
BAYERN
Muenchen
Dachauer Strasse 665
Contacts
+498914890.0
www.mtu.de
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