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MarketScreener Homepage  >  Equities  >  Xetra  >  MTU Aero Engines AG    MTX   DE000A0D9PT0

MTU AERO ENGINES AG

(MTX)
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Real-time Quote. Real-time Tradegate - 01/24 04:52:41 am
286.95 EUR   +1.11%
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MTU Aero Engines : Maintenance signs exclusive CFM56-7B contract with Malaysia Airlines Berhad

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11/25/2019 | 09:58am EST

Zhuhai, November 25, 2019 - MTU Maintenance, the global leader in customized solutions for aero engines, and Malaysia Airlines Berhad signed an exclusive 10-year contract for the airline's over 100 CFM56-7B engines today. The contract covers maintenance, repair and overhaul for the engine fleet until phase-out and includes lease engines and LLP management.

Malaysia Airlines is the national carrier of Malaysia and transports 40,000 guests on more than 300 flights daily to 59 destinations around the world. 'We are delighted to be partnering with MTU Maintenance,' says Captain Izham Ismail, Group Chief Executive Officer of Malaysia Airlines. 'We are confident that MTU will provide the flexible, reliable service needed to keep our B737-800 fleet safely flying as well as an optimized cost per flight hour that supports our bottom line.'

'This is the largest CFM56-7B contract signed by MTU Maintenance to date,' adds Michael Schreyögg, Chief Program Officer, MTU Aero Engines. 'MTU is proud to be supporting Malaysia Airlines with our exceptional and intelligent solutions as their CFM56-7B engines enter the mature stage of their lifecycle. We look forward to proactively managing Malaysia Airlines' fleet, maximizing engine usage and reducing cost for our partner.'

The service offering incorporates MTU Maintenance's PERFORMPlus solution for newer engines, ensuring longer on-wing times through optimized fleet management, engine trend monitoring, on-site services and lease support. Further, it also draws on numerous elements of the company's SAVEPlus solution for more mature engines, using smart strategies to minimize cost at end of life. MTU Maintenance Zhuhai will be carrying out these services on behalf of Malaysia Airlines.

MTU Maintenance is the global leader in customized solutions for aero engines. The company is the number one independent service provider for the CFM56-family and is seeing strong and increasing demand for its services. In 2018 alone, over one third of all contract wins were for CFM56 engines. The network operates a tri-location policy for the CFM56 engine family - serving engines in Hannover, Vancouver and Zhuhai.

About MTU Aero Engines
MTU Aero Engines AG is Germany's leading engine manufacturer, with core competencies in low-pressure turbines, high-pressure compressors, turbine center frames, manufacturing processes and repair techniques. MTU plays a key role in the new engine market through its partnership in many international development, manufacturing and sales programs, to which it contributes its high-tech components. One third of the global fleet of passenger airliners relies on components supplied by MTU. MTU is one of the world's top 5 providers of maintenance services for commercial aircraft engines and industrial gas turbines. These activities are combined under the roof of MTU Maintenance. In the military sector, MTU Aero Engines is the lead industrial partner for almost every type of engine flown by the German armed forces. MTU operates affiliates around the globe; its corporate headquarters are based in Munich, Germany. In fiscal 2018 the company had a workforce of some 10,000 employees and posted consolidated sales of 4.6 billion euros.

Disclaimer

MTU Aero Engines AG published this content on 25 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2019 14:57:09 UTC

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Financials (EUR)
Sales 2019 4 764 M
EBIT 2019 740 M
Net income 2019 498 M
Debt 2019 902 M
Yield 2019 1,18%
P/E ratio 2019 29,9x
P/E ratio 2020 26,8x
EV / Sales2019 3,34x
EV / Sales2020 3,04x
Capitalization 14 999 M
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 21
Average target price 249,48  €
Last Close Price 283,80  €
Spread / Highest target 12,8%
Spread / Average Target -12,1%
Spread / Lowest Target -41,9%
EPS Revisions
Managers
NameTitle
Reiner Winkler Chief Executive Officer
Klaus Eberhardt Chairman-Supervisory Board
Lars Wagner Chief Operating Officer
Peter Kameritsch Chief Financial & Information Officer
Thomas Dautl Member-Supervisory Board
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