February 12, 2015
MTU Aero Engines achieves record performance in 2014
MTU Aero Engines has once again beaten its previous records. In the financial year 2014, revenues grew by 10% to a new all-time high of €3,913.9m (2013: €3,574.1m). MTU’s operating profit rose from €377.4m in 2013 to €382.7m. Earnings after tax amounted to €253.3m (2013: €238.6m).
The commercial engine business recorded the highest revenue growth in 2014, from €1,891.3m in 2013 to €2,116.8m, an increase of 12%. The main sources of these revenues were the V2500 engine for the A320, the GP7000 for the Airbus A380, and the GEnx for the Boeing 787 Dreamliner and 747-8. Revenues in the military engine business increased by 6% to €531.5m (2013: €500.7m), with the key revenue driver being the EJ200 Eurofighter engine. Revenues in the commercial maintenance business rose by 7% to €1,298.9m (2013: €1,213.7m). The key revenue driver in this case was the V2500. MTU’s total order backlog amounted to €11,176.5m at the end of 2014 (2013: €9,374.6m), which corresponds to a production workload of around three years. “The order backlog in the OEM operating segment rose to a new record high of nearly €6.8bn,” commented Reiner Winkler, CEO of MTU Aero Engines AG. “The PW1000G family and the V2500 engines are the main contributors to orders and to future growth.” The PW1000G family will be deployed in the Airbus A320neo, the Bombardier CSeries, the new generation of Embraer E-Jets, the Mitsubishi Regional Jet and the Irkut MS-21.