Germany-based MTU Aero Engines (MTU) has reported a 10 per cent increase in revenue for 2014 to €3.9bn ($4.4bn) compared with €3.6bn ($4.1bn) in 2013.
The company’s full-year earnings after tax totalled €253.3m ($289.1m) in 2014, the highest-ever in its 80-year history. MTU’s commercial engine business reported the highest revenue growth in the group last year, with a 12 per cent increase in revenue to €2.1bn ($2.4bn).
In publishing the firm’s annual results yesterday (February 12), CEO Reiner Winkler revealed that the company expected revenues to rise a further 13 per cent in 2015 to €4.4bn ($5bn) driven by demand for the GE9X and GP7000.
He said: “Our new engine business is likely to grow faster than the considerably more profitable spare parts business.”
“We are expecting further strong demand for the geared turbofan engine family and for the GE9X,” Winkler said.
“In 2015, the growth of our series production business will be driven mainly by the GP7000 and the new geared turbofan programmes that will enter series production.”
The German engine maker is also projecting its net income to reach €285m ($325m) in 2015 a 12.5 per cent increase from last year.