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

MTU AERO ENGINES AG

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Test match, successo Top Volley. Tubertini: “Mi piaciuto il ritmo di gioco e sono molto soddisfatto anche dei giovani”

10/22/2020 | 07:05pm EST

• Engine experts see three possible applications

Munich, October 5, 2020 - As the industry moves toward emission-free aviation, MTU Aero Engines welcomes the ZEROe concepts from European aircraft manufacturer Airbus. 'Hydrogen is a highly attractive future option for us as an engine producer as well,' says MTU Chief Operating Officer Lars Wagner. 'It should be used as a fuel right away,' he adds.

Germany's leading engine manufacturer sees three possible uses for hydrogen: Converted to sustainable aviation fuels (SAFs), hydrogen could be dropped into existing aircraft and engines right away. 'Direct combustion of liquid hydrogen in gas turbines is possible in technical terms, too,' says Dr Stefan Weber, Senior Vice President Technology & Engineering Advanced Programs at MTU in Munich, highlighting the second possible use. That would require some adjustments in the engine, especially the combustion chamber, which Weber thinks could be done in just a few years. By contrast, much larger challenges await for infrastructure and aircraft manufacturers, since they will have to find ways to provide and transport the liquid hydrogen and then carry it along inside appropriate tanks inside the aircraft.

In the long term, MTU is relying on a third option for using hydrogen: converting it into electricity by means of a fuel cell. This application is also described by the MTU experts in their Technology Roadmap for achieving emissions-free flight. This technology promises almost zero emissions, but it is still in the early stages of development in aircraft propulsion applications. 'We call our fuel cell concept the flying fuel cell. We have an established team of experts working on it in Munich,' Weber explains. In August, MTU teamed up with the German Aerospace Center (DLR) to launch a cooperative project with the aim of demonstrating the new technology in a Do228.

MTU's development work is also focusing on the further development of the gas turbine to leverage the full amount of potential available. Further optimized and combined with revolutionary drive concepts that significantly improve the cycle, considerable reductions in all emissions can be achieved. MTU is currently focusing on what is known as a WET engine (Water-Enhanced Turbofan). This concept reduces fuel consumption by more than 15 percent regardless of fuel type, considerably lowers all emissions - especially NOx levels - and, according to initial estimates, also reduces formation of contrails.

Lars Wagner explains: 'We need both propulsion concepts - an optimized gas turbine combined with WET technology and fuel cells - because they have different areas of application.' The hydrogen-powered fuel cell is especially suitable for short- to medium-haul aircraft, as it requires less tank volume than in the case of long-haul aircraft. For these types of planes, gas turbines will continue to make sense for the foreseeable future. 'But in that case, using SAFs,' Dr Stefan Weber sums up, adding, 'Realizing the new technologies, and reaching our climate targets, will depend to a crucial degree on receiving appropriate funding, both nationally and at the European level.'

Disclaimer

MTU Aero Engines AG published this content on 05 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2020 23:04:00 UTC


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Financials
Sales 2020 4 074 M 4 927 M 4 927 M
Net income 2020 222 M 269 M 269 M
Net Debt 2020 829 M 1 003 M 1 003 M
P/E ratio 2020 49,4x
Yield 2020 0,78%
Capitalization 10 804 M 13 054 M 13 067 M
EV / Sales 2020 2,86x
EV / Sales 2021 2,65x
Nbr of Employees 10 660
Free-Float 85,1%
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Mean consensus HOLD
Number of Analysts 22
Average target price 176,96 €
Last Close Price 203,70 €
Spread / Highest target 42,0%
Spread / Average Target -13,1%
Spread / Lowest Target -46,5%
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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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