MTU Aero Engines AG (MTUAY.PK) reported Thursday that its second-quarter net income declined to 102.8 million euros from last year's 112.3 million euros.
Earnings per share were 1.92 euros, down from 2.15 euros last year.
Adjusted net income was 127.5 million euros, compared to 113.7 million euros a year ago.
Adjusted EBIT was 177.6 million euros, higher than 159.5 million euros last year. Adjusted EBIT margin improved to 16 percent from 14.1 percent a year ago.
Revenues for the quarter declined to 1.11 billion euros from 1.13 billion euros last year.
The order backlog was 18.5 billion euros at the end of June 2019, compared to 17.6 billion euros as of December 31, 2018.
Further, the company raised its forecast for 2019. The company is now projecting an adjusted EBIT margin in the region of 16 percent, compared to original forecast of 15.5 percent, higher than prior year's 14.7 percent.
Net income adjusted is expected to increase in line with EBIT adjusted.
Further, MTU has maintained its forecast for an increase in revenues to around 4.7 billion euros from last year's 4.6 billion euros, based on the expectation that the commercial series production business will grow organically.
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