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DGAP-Adhoc: MTU Aero Engines AG publishes new forecast for the 2020 fiscal year

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DGAP-Ad-hoc: MTU Aero Engines AG / Key word(s): Forecast
MTU Aero Engines AG publishes new forecast for the 2020 fiscal year

31-Jul-2020 / 11:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

*Disclosure of inside information in accordance with Article 17 of the
Market Abuse Regulation (MAR) *

*MTU Aero Engines AG publishes new forecast for the 2020 fiscal year*

Munich, Germany; July 31, 2020 - The Executive Board of MTU Aero Engines AG
has published a new forecast for the 2020 fiscal year. "Our new outlook is
based on the aircraft manufacturers' updated production rates and delivery
schedules. The forecast also takes into account the latest estimates for the
development of the aftermarket business, based on the expected development
of air traffic volume," commented Reiner Winkler, CEO of MTU Aero Engines

MTU expects to generate revenue of 4 to 4.4 billion euros in 2020. Revenue
from commercial series production business is likely to drop organically by
a percentage in the mid to high twenties, revenue from spare parts business
by a percentage in the high twenties. "Our spare parts business has been hit
the hardest by the crisis," said CFO Peter Kameritsch. "As far as series
production business is concerned, we're seeing lower volumes above all in
the area of Geared Turbofan(TM) engines, especially for the A320neo, and
GEnx engines for the Boeing 787." Meanwhile MTU expects the percentage
decline in revenue from commercial MRO business to be in the low-to-mid
single digits. "Here, our work on the PW1100G-JM engine for the A320neo
under the retrofit program should partially offset the organic decline in
revenue in the core business. In addition, cargo airlines are likely to
ensure capacity utilization," Kameritsch explained. Revenue from military
business is projected to increase slightly. MTU anticipates an adjusted EBIT
margin of between 9 and 10 percent for 2020. "Lower volumes and changes in
the product mix will have a negative impact on the development of our
margin," Winkler added. Adjusted net income should develop in line with
adjusted EBIT. Furthermore, MTU has set itself the goal of closing the year
with a positive free cash flow.

The new outlook is subject to the proviso that there will be no significant
tightening of COVID-19-related restrictions that would have further negative
effects on air traffic and MTU's supply chains.

In March, the company had retracted its original forecast of February 20,
2020, due to the unpredictable impact of the COVID-19 pandemic.

MTU Aero Engines AG will publish its mid-year results for 2020 on August 3.

Your contacts at MTU Aero Engines Investor Relations:

Thomas Franz
Vice President Investor Relations
Phone: + 49 (0) 89 14 89-47 87
Email: Investorrelations@mtu.de

Claudia Heinle Matthias Spies
Senior Manager Investor Relations Senior Manager Investor Relations
Phone: + 49 (0) 89 14 89-39 11 Phone: + 49 (0) 89 14 89-41 08

31-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: MTU Aero Engines AG
Dachauer Straße 665
80995 München
Phone: +49 (0)89 14 89-4787
Fax: +49 (0)89 14 89-95583
E-mail: Thomas.Franz@mtu.de
Internet: www.mtu.de
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
EQS News ID: 1106967

End of Announcement DGAP News Service

1106967 31-Jul-2020 CET/CEST

(END) Dow Jones Newswires

July 31, 2020 05:31 ET ( 09:31 GMT)

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