MTU Aero Engines in the financial year 2017 saw revenues increase by 6% from €4,732.7 million in 2016 to a new high of €5 billion and operating profit reached a new record level of €606.6 million.
“We took advantage of the favorable market environment in 2017 to drive profitable growth in both of our operating segments, OEM and MRO,” CEO Reiner Winkler stated on an earnings call on Feb. 21.
Winkler said last year a successful one for its Hannover-based MRO business, MTU Maintenance. “We were able to attract many new customers, resulting in strong order wins of around $3 billion or independent MRO business,” he said.
Covering around 35% of the global V2500 engine fleet in Germany and its China shop, MTU says its maintenance revenues increased by around 20%.
Last year also saw expansions of the business through the signing of a new joint venture with Lufthansa Technik focusing on the Pratt & Whitney GTF engine. The facility will be established in Poland in 2020 and will hold capacity for more than 400 shop visits annually, MTU said.
MTU’s revenue forecast for its commercial maintenance business in 2018, expressed in U.S. dollars, is for a growth rate in the high teens, while spare parts sales are expected to increase by a mid-single-digit percentage.