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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 04:50:38 am
286.85 EUR   +1.07%
01/21MTU AERO ENGINES : Corporate Responsibility
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Safran : and MTU Aero Engines achieve a major step forward for the engine of the Next Generation Fighter (NGF)

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12/03/2019 | 10:38am EST

Paris (France) / Munich (Germany) The FCAS (Future Combat Air System) program takes a major step ahead: Safran Aircraft Engines and MTU Aero Engines settled the details concerning their eye-level partnership to develop the engine of the next-generation European fighter aircraft NGF.

This industrial agreement relies on the principles of the Letter Of Intent (LOI) signed between the two companies in February 2019, which specifies that Safran will take the lead in engine design and integration, and MTU Aero Engines 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 (Phase 1A).

The two partners also agreed on the foundation of a 50/50 joint venture that will be incorporated by the end of 2021 to manage the development, the production and the after-sales support activities of the new engine that will power the next-generation fighter aircraft (NGF).

'This agreement is a major step forward, which reflects Safran Aircraft Engines and MTU Aero Engines' willingness to ensure a strong and effective management of the program relying on a balanced partnership and clear accountabilities,' stated Olivier Andries, CEO of Safran Aircraft Engines, and Michael Schreyogg, Chief Program Officer of MTU Aero Engines. 'Safran and MTU are committed to supply the Forces with an innovative engine architecture which will be a key asset of their operational performances.'

About Safran

Safran is an international high-technology group, operating in the aircraft propulsion and equipment, space and defense markets. Safran has a global presence, with more than 91,000. Safran is listed on the Euronext Paris stock exchange, and is part of the CAC 40 and Euro Stoxx 50 indices. Safran Aircraft Engines designs, produces, sells, alone or in partnership, commercial and military aircraft engines offering world-class performance, reliability and environmental-friendliness. Through CFM International*, Safran Aircraft Engines is the world's leading supplier of engines for short and medium-haul commercial jets.

CFM is a 50/50 joint company between Safran Aircraft Engines and GE

For more information: www.safran-group.com and www.safran-aircraft-engines.com

Follow @Safran and @SafranEngines on Twitter

About MTU Aero Engines

MTU Aero Engines AG is Germany's leading engine manufacturer. The company is a technological leader in low-pressure turbines, high-pressure compressors, turbine center frames as well as manufacturing processes and repair techniques. In the commercial OEM business, the company plays a key role in the development, manufacturing and marketing of high-tech components together with international partners. Some 30 percent of today's active aircraft in service worldwide have MTU components on board. In the military arena, MTU Aero Engines is Germany's industrial lead company for practically all engines operated by the country's military.

For a full collection of press releases and photos, go to www.mtu.de

Follow @MTUaeroeng on Twitter

(C) 2019 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MTU AERO ENGINES AG 0.88% 286.4 Delayed Quote.11.47%
SAFRAN 2.81% 146.1 Real-time Quote.3.23%
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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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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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