The Munich engine manufacturer MTU has nearly maintained its profits at the previous year's level in the first quarter of 2024, while sales significantly increased. According to the company, sales rose by 8 percent to 1.67 billion euros in the first three months. The adjusted EBIT improved slightly to 218 million euros, compared with 212 million euros in the same period of the previous year. The adjusted EBIT margin reached 13.0 percent, after 13.7 percent in the previous year.
The Adjusted Net Income Remained Virtually Unchanged at 158 Million Euros Compared to 157 Million Euros in the Previous Year. Despite the Minor Changes in Margins and Adjusted Profit, MTU is Optimistic About the Current Fiscal Year. The Company Forecasts Revenue Between 7.3 and 7.5 Billion Euros for 2024, a Significant Increase Compared to 6.3 Billion Euros in the Previous Year.
The forecast for the adjusted EBIT margin remains above 12 percent, with adjusted net income after taxes and adjusted EBIT expected to increase. For free cash flow, MTU anticipates a low triple-digit million euro amount.
The positive business development was also reflected in the stock market, where MTU shares temporarily rose by 1.20 percent to 227.80 euros in XETRA trading. This underscores investors' confidence in the company's growth prospects despite slightly decreased margins.
