MTU Maintenance saw revenues grow 6% in its commercial MRO business in the first quarter of this year to increase to €618.2 million ($693 million) over the three-month period.
Peter Kameritsch, CFO of MTU Aero Engines, acknowledged that revenues slowed somewhat in Q1 because of changes in the ordering and billing process for V2500 engine maintenance services. Last year, revenues stood at €655.1 million for the quarter.
“But demand remained unabated, as evidenced by the organic growth in the MRO segment, which amounted to around 9 % in the first quarter,” Kameritsch says.
However, the narrowbody engine found on Airbus A320 family aircraft remains the engine repair business’s main driver of revenues.
MTU repairs the V2500 at its shop in Hanover along with its MTU Maintenance Canada business in Vancouver and MTU Maintenance Zhuhai in China.
There was more good news in terms of earnings. MTU’s commercial maintenance business reported the highest percentage growth in earnings across the company, with earnings before interest and taxes (EBIT) adjusted increasing by 10 % to 56.8 million, compared to € 51.5 million in the same period last year.