The engine builder MTU was able to earn more than expected last year. The Dax group thus exceeded the average expectations of analysts.
The engine manufacturer MTU earned more than expected in the second Corona year 2021, despite disappointing sales development.
The operating profit adjusted for special effects (adjusted EBIT) rose by 13 percent compared to the previous year to 468 million euros, as the Dax group announced. MTU thus exceeded the average expectations of analysts. The surplus grew by 57 percent to 231 million euros after job cuts and the delay of Boeing’s 777X wide-body jet had weighed on the result in the previous year.
Sales, on the other hand, increased by only 5 percent to just under 4.2 billion euros, falling short of the Management Board’s forecast and the expectations of industry experts. In the engine business as well as in maintenance, the revenues were slightly lower than expected, said CEO Reiner Winkler. According to the board of directors, shareholders should receive a dividend of EUR 2.10 per share for 2021 – 85 cents more than in the previous year.
For 2022, the MTU management expects sales to increase to between 5.2 billion and 5.4 billion euros. Adjusted operating profit is expected to increase by a mid-twenties percentage.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
