MTU Aero sees passenger jets driving growth in 2013

Feb 19 2013, 13:34 IST
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SummaryOne of suppliers to Boeing's Dreamliner passenger jet that is currently grounded after a battery problem.

German aircraft engine maker MTU Aero Engines expects further growth in sales and profit for 2013, helped by orders from commercial aircraft makers like Airbus and Boeing, it said on Tuesday.

The group, one of the suppliers to Boeing's Dreamliner passenger jet that is currently grounded after a battery problem, forecast revenues, operating and net profit to rise by 10-12 percent in 2013.

For 2012, it reported revenue rose 15 percent to 3.38 billion euros ($4.5 billion), and adjusted earnings before interest and tax (EBIT) advanced 14 percent to 374.3 million euros on a comparable basis.

Analysts had been expecting the group to report revenue of 3.38 billion euros and adjusted EBIT of 380 million, according to a Reuters poll.

The group is aiming to increase revenues to 6 billion euros by 2020, helped by demand for passenger jets.

It said the commercial engine business would probably see sales rise by 20-25 percent, while its military business would be stable.

Airbus has predicted that global airlines will buy a total of $4 trillion of aircraft over the next 20 years as they seek efficient new models to counter high fuel costs and meet relentless demand for travel to and from emerging markets.

MTU's order backlog of almost 11.5 billion euros means it has enough work for three years.

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