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

MTU AERO ENGINES AG

(MTX)
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MTU Aero Engines : , Safran Agree on Fighter-Jet Engine Project, Plan JV by End of 2021

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12/03/2019 | 05:55am EST

By Max Bernhard

Safran and MTU Aero Engines AG said Tuesday that they have settled details concerning their partnership to develop an engine for the next generation of European fighter aircraft.

The two companies said they agreed to form a fifty-fifty joint venture, to be incorporated by the end of 2021, to manage the development, production and after-sales support of the new engine.

According to a letter of intent signed in February, Safran will take the lead in engine design and integration, while MTU Aero will take the lead in engine services.

"In the framework of the contractual scheme defined by France and Germany, Safran Aircraft Engines will be the prime contractor and MTU Aero Engines the main partner for the first phase of research and technology," they said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

Stocks mentioned in the article
ChangeLast1st jan.
MTU AERO ENGINES AG 0.04% 281.4 Delayed Quote.10.37%
SAFRAN 0.71% 142.1 Real-time Quote.2.43%
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Financials (EUR)
Sales 2019 4 771 M
EBIT 2019 741 M
Net income 2019 498 M
Debt 2019 962 M
Yield 2019 1,19%
P/E ratio 2019 29,5x
P/E ratio 2020 26,4x
EV / Sales2019 3,31x
EV / Sales2020 3,01x
Capitalization 14 851 M
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 21
Average target price 241,43  €
Last Close Price 281,00  €
Spread / Highest target 6,76%
Spread / Average Target -14,1%
Spread / Lowest Target -41,3%
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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