Half Year 2024 MTU Aero Engines AG Earnings Call Transcript
Key Points
- Worldwide passenger traffic grew 9.1% in June, indicating strong demand for air travel.
- Adjusted group revenues increased by 10% to EUR3.4 billion, with EBIT adjusted up 16% to EUR470 million.
- Spare parts sales have improved, contributing to better turnaround times and more inductions into MRO shops.
- MTU Aero Engines AG (MTUAF) secured significant orders at the Farnborough Airshow, worth roughly USD800 million.
- Military business is strong, with increasing interest in Eurofighter engines and a new joint venture with Safran Helicopter Engines.
- Supply chain challenges continue to limit production of new aircraft, affecting overall deliveries.
- Despite improvements, supply still can't keep pace with the high demand for spare parts.
- Free cash flow guidance remains volatile due to ongoing supply chain issues and pending customer support payments.
- The share of GTF work in the MRO segment is expected to be lower than previously anticipated, reflecting lower material intensity.
- Airbus's postponement of production rate increases highlights ongoing challenges in the aerospace supply chain.
Good morning, ladies and gentlemen. Welcome to our conference call for MTU's H1 2024 results. As usual, we start with a review and some key messages presented by Lars. Peter will start with the financial overview and a more detailed look into our OEM and MRO segments.
After that, Lars takes over and walks you through the guidance for 2024. This will then end the presentation, and we will open the call for questions. Let me now hand over to Lars for the review.
All right. Thank you, Thomas. And also, welcome from my side. Good morning, everyone. Good that you are on board.
Let me start with the regular view on the market environment. Worldwide passenger traffic continued its path and grew 9.1% in June. Within that, domestic traffic grew 4.3%, while international traffic rose 12.3% in total, with double-digit growth in most regions. Strong ticket sales and consistently high load
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
