Full Year 2024 MTU Aero Engines AG Earnings Call Transcript

Feb 19, 2025 / 11:00AM GMT

Release Date Price: €330.65 (-4.48%)

Transcript

Key Points

Positve

MTU Aero Engines AG (MTUAF) achieved an EBIT exceeding EUR1 billion for the first time, one year ahead of schedule.
The company reported a robust growth in total adjusted revenue, increasing by 18% to approximately EUR7.5 billion.
MTU Aero Engines AG (MTUAF) secured contract wins totaling USD5.6 billion in the commercial MRO sector, demonstrating strong demand.
The GTF Advantage program is on track for final FAA certification in H1 2025, with first deliveries expected within the year.
The company announced a dividend proposal of EUR2.20 per share, a EUR0.20 increase from the previous year, reflecting confidence in future growth.

Negative

Supply chain challenges continue to impact new aircraft deliveries, affecting the overall market environment.
The GTF fleet management plan will continue to have financial impacts on free cash flow in 2025 and 2026.
MTU Aero Engines AG (MTUAF) experienced a significant increase in receivables due to delayed payments for GTF shop visits.
The company is undergoing management changes, with both the CEO and CFO set to leave, which may cause transitional challenges.
Free cash flow was down 48% to EUR183 million, influenced by payments for the GTF management plan and volatile supply chain issues.

Operator

Welcome to the conference call on MTU Aero Engines preliminary full year 2024 results. For your information, the management presentation, including the Q&A session, will be audio taped and streamed live or made available on demand on the Internet. By attending in the conference call, you grant permission for audio recordings intended for publication on the Internet to be taken.

The speakers of today's conference call are Mr. Lars Wagner, Chief Executive Officer; and Mr. Peter Kameritsch, Chief Financial Officer. Firstly, I will hand over to Mr. Thomas Franz, Vice President, Investor Relations, for some introductory words.

Thomas Franz

MTU Aero Engines AG - Vice President, Investor Relations

Yes. Thank you, Heidi, and good morning, ladies and gentlemen. Welcome to our conference call for MTU's preliminary full year results 2024. As usual, we will start with a review presented by Lars. Peter will give you the financial overview, a comparison to our initial guidance as well as a more detailed look into our OEM and MRO segment.

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