Mtu Aero Engines Ag · XETR:MTX
Mtu Aero Engines — Investor Presentation (July 2025)
55 slides from Mtu Aero Engines's investor presentation, July 2025
Slide 1: MTU Aero Engines AG Investor presentation
DRIVEN BY VISIONS OF TOMORROW MTU Aero Engines AG I Investor presentation July 2025 Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G R O U P C O M P A N Y
Slide 2: Agenda
Click to chapters Agenda 01 Track record 03 Production & Technology 05 Appendix 02 Market position 04 Financial outlook Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N
Slide 3: 01 Track record
01 Track record We are one of the pioneers of the aviation industry and are firmly established in the market as a leading manufacturer of aircraft engines and member of the DAX stock index. Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N
Slide 4: We shape the future of aviation!
We shape the future of aviation! WHAT WE DO I Design, development, production and support of aircraft engines in all thrust categories Fiscal I Commercial business: 30% of aircraft have MTU technology on board year 2024: Revenue adjusted I Military business: full system capability, for 90 years EUR
Slide 5: MTU at a Glance
MTU at a Glance COMMERCIAL OEM BUSINESS MILITARY OEM BUSINESS COMMERCIAL MRO* BUSINESS I Revenues adj.: € 1.9 billion (25 %)** I Revenues: € 0.6 billion (8 %) ** I Revenues: € 5.1 billion (67 %) ** I Decades of partnerships with OEMs I European and U.S. engine programs I Services: maintenance, leasi
Slide 6: MTU looks back on many important names from the German industrial history
MTU looks back on many important names from the German industrial history 1934 1969 2005 Today BMW Flugmotorenbau GmbH MTU MTU goes public MTU Aero Engines is is founded 50% Daimler Benz established in the DAX, 50% MAN Germany‘s primary stock index 1989 1965 MTU becomes an affiliate of MAN takes ove
Slide 7: 02 Market position
02 Market position 2024 was a record year for MTU and we are ready to further shape the future of aviation. Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G
Slide 8: The aero engine industry
The aero engine industry CHARACTERISTICS I Industry players are specialized in different modules and technologies I Oligopolistic structure of market I OEM business and MRO are perfect supplements I Profit margins and cashflows related to the sales of new engine platforms are typically low or even n
Slide 9: MTU is an essential partner in the engine value chain
MTU is an essential partner in the engine value chain Subsystem/ Engine component module Engine Material suppliers* suppliers* suppliers* OEMs* Airframers* Airline operations MRO HANWHA TECHWIN Engine MRO OEM market Aftermarket * selected market participants Investor presentation / July 25 © M T U A
Slide 10: Long-term fundamentals for the aerospace industry remain intact
Long-term fundamentals for the aerospace industry remain intact Positive market environment for the aviation industry1) 20-year annual 20-year annual RPK2) 20-year annual CTK3) 20-year new jet aircraft GDP growth 2.6% traffic growth 3.6% traffic growth 3.1% deliveries >40,000 Solid new aircraft deli
Slide 11: MTUs unique market position in both segments OEM and MRO
MTUs unique market position in both segments OEM and MRO OEM MRO I Strategic long-term partnership with Pratt & I No. 1 Independent MRO provider worldwide Whitney in the narrowbody market (LPT/HPC) I Worldwide broadest portfolio with 30+ engine secures growth opportunities types I Partnership on lar
Slide 12: A balanced portfolio in all thrust categories ensure MTU's long-term success
A balanced portfolio in all thrust categories ensure MTU’s long-term success 01 MTU + Programs Entry into service CF6-80, LM6000 outperforms the market in three V2500 747, 767, IGT, A300, A320, MD-90, A310, A330 of the four market segments by: KC-390 I Securing and expanding market and PW300, PW500
Slide 13: In the commercial OEM business MTU expands its position in all market segments
In the commercial OEM business MTU expands its position in all market segments BUSINESS JETS REGIONAL JETS NARROWBODIES WIDEBODIES Balanced portfolio Only new generation engine Broad market coverage Adding the biggest and strongest in segment engine to the portfolio PW800, PW300/500 PW1900G V2500, P
Slide 14: Solid military engine portfolio
Solid military engine portfolio FCAS CH-53K Eurocopter Tiger Tornado NGFE T408 MTR 390 RB199 EIS ~2040 EIS 2021 EIS 2004 EIS 1979 A400M Eurofighter Next Gen Helicopter TP400-D6 EJ200 Year 0 40-50 years Entry into service in service EIS 2013 EIS 2003 R&D Series Production Aftermarket Phase out Invest
Slide 15: Kick-off for the European new-generation fighter engine
Kick-off for the European new-generation fighter engine ~ 2,000 ~ 500 Achievements engines expected engineers at MTU I Foundation of 50:50 JV EUMET in 2021 I Strong partnerships across Europe I Start of demonstrator phase 1B, first milestones reached TIMELINE OF THE NEW EUROPEAN FIGHTER ENGINE Benef
Slide 16: MTU very well positioned to benefit from future growth in the MRO market
MTU very well positioned to benefit from future growth in the MRO market MRO REVENUES 2019 -2024 (IN USD BILLION) I Market approach via independent MRO and OEM-MRO partnerships 5.5 I One of the largest engine maintenance portfolio worldwide 4.6 I Broad, diversified customer base 3.8 I Strong positio
Slide 17: MTU is working consistently to further strengthen its MRO market presence
MTU is working consistently to further strengthen its MRO market presence Secure market access Expansion of product portfolio Presence in key markets Increase competitiveness I Further increase independent I Expansion of existing and I Expansion of global MRO network I Digitalization and process MRO
Slide 18: MTU offers minimized maintenance costs and the best possible engine value retention
MTU offers minimized maintenance costs and the best possible engine value retention MARKET TRENDS BENEFITS I Ongoing demand for independent solutions as an alternative to OEM aftermarket services 01 Long-standing expertise and market leadership as an independent provider I Increasing focus on newer
Slide 19: Long-term partner in the OEM network
In the more recent programs, MTU increasingly supports the OEMs, providing high-quality maintenance solutions MARKET TRENDS BENEFITS I Trend towards OEM branded service agreements continues 01 Long-term partner in the OEM network I High number of airlines are focusing on their core business MTUs exc
Slide 20: Local presence with high MTU quality standards
MTU’s unique MRO expertise makes it a preferred airline partner – together with China Southern, MTU has built up the No. 1 shop in China MARKET TRENDS BENEFITS I Strong growth of new airlines and large fleets forecasted 01 Local presence with high MTU quality standards I Selected Airlines are intere
Slide 21: Expansion of our global MRO network is progressing
Expansion of our global MRO network is progressing Canada Zhuhai (JV) Move to new facility 2021 Shop expansion 2021 Dallas Zhuhai Jinwan (JV) Move to new facility 2023 New shop 2025 Hannover Ludwigsfelde Serbia EME Aero (JV) ASSB Airfoil Service (JV) Shop expansion 2021 Shop expansion 2019 New shop
Slide 22: 03 Production & Technology
03 Production & Technology Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G R O U P C O M P A N IYE 22
Slide 23: Leading technology paving the way for emissions-free flight
Leading technology paving the way for emissions-free flight LEADING TECHNOLOGY FOR CORE ENGINE MODULES AND PRODUCTION PROCESSES I Fast running low-pressure turbine (LPT), high-pressure compressor (HPC) and turbine center frame (TCF) I MTU as role model for automation in aero engine manufacturing (Bl
Slide 24: MTU focuses on five core engine competencies
MTU focuses on five core engine competencies – three core components and on unique manufacturing and maintenance processes MANUFACTURING High-pressure compressor (HPC) Low-pressure turbine (LPT) MAINTENANCE Turbine center frame (TCF) Investor presentation / July 25 © M T U A E R O E N G I N E S A G
Slide 25: OEM global footprint – target vision for future manufacturing sites
OEM global footprint – target vision for future manufacturing sites Target set-up I Development/compliance hardware LABOUR COST PER HOUR OEM Munich: and pre-series Renewed infrastructure I High-tech procedures 2021 and competences I Military programs 2035 GEN2/NEFE/FFC* I Highly automated production
Slide 26: EcoRoadmap for a sustainable production
EcoRoadmap for a sustainable production 60% CO2 reduction (Scope 1 & 2) by 2030 according to Paris climate agreement Since 2018: Since 2021: Since 2022: 2023 onward: Sustainability measures Project Zero for waste climate neutral production climate strategy ecoRoadmap climate strategy ecoRoadmap addi
Slide 27: Energy sources for emission-free aviation
Energy sources for emission-free aviation IMPORTANCE OF SAF* FOR NEAR- AND LONG-TERM CLIMATE PROTECTION IMPORTANCE OF HYDROGEN AS CLEANEST ENERGY CARRIER Near-term Long-term I Drop-in application in existing fleet with imminent impact on climate I “Green” hydrogen has largest potential for zero emis
Slide 28: Engine concepts towards emission-free aviation
Engine concepts towards emission-free aviation GAS TURBINE EVOLUTION FLYING FUEL CELL I Reduced fan pressure ratio and higher overall I An electrochemical reaction in fuel cells pressure ratio transforms chemical energy from H2 and O2 I More efficient components and advanced into electrical energy m
Slide 29: 04 Financials & outlook
04 Financials & outlook In recent years, we have proven resilience in a challenging market environment. From here, we start the future with a diversified portfolio and a considerable investment in new technologies. Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M
Slide 30: Financial strength setting the ground for new investments
Financial strength setting the ground for new investments FINANCIAL STRENGTH I Strong balance sheet with a healthy leverage and high level of liquidity I Diversified funding mix I Resilience proven in crisis years 2020-2021 I Investment grade rating I Moody's: Baa3 (positive) I Fitch: BBB (stable) S
Slide 31: Update 2025 & mid-term outlook
Update 2025 & mid-term outlook
Slide 32: Guidance 2025 — improved outlook
Guidance 2025 — improved outlook Organic growth expectations updated - Improvements in profitability │ Higher share of lease/spare engines │ Higher revenues in commercial spares │ Higher growth driven by positive customer and workscope mix in MRO → Strong market demand and product mix drive revenues
Slide 33: Guidance 2025 — improved outlook confirms exceptional performance in 2025
Guidance 2025 — improved outlook confirms exceptional performance in 2025 ORGANIC REVENUE 1.10 USD/EUR Total group sales EBIT adj. absolute Military Commercial OE EUR 8.6 — 8.8 billion Up low to mid twenties % ~ up mid to high single digit % ~ up mid teens % Net income adj. FCF Commercial spares Com
Slide 34: Future business drivers
Future business drivers Commercial OE Commercial spares │ New engine revenues to grow strongly in coming │ Continuous growth from narrowbody engines years, plateauing towards the end of this decade │ Contribution from newer widebody engine │ GTF production volume growing programs increasing │ Increa
Slide 35: Future business drivers
Future business drivers Military Commercial MRO │ Geopolitical developments triggers expectations in military │ Narrowbody MRO growth continues business │ GTF volumes growing predominantly in best cost sites │ Increasing deliveries for EJ200 and T408 │ Strong freighter demand especially on GE90 and
Slide 36: Revenue and EBIT adj. margin outlook
Revenue and EBIT adj. margin outlook Revenue growth CAGR EBIT adj. margin ambition 2030 2024 — 2030 per segment at 1.10 USD/EUR Military up mid to high single digit % OE sales are outgrown by OEM Commercial OE up mid to high single digit % 28 – 30% profitable aftermarket Commercial up high single di
Slide 37: 2024 – 2030 CCR outlook
2024 – 2030 CCR outlook CCR expected to continuously improve Cash Conversion Rate Act. 2024 Ambition 2030 ~24% high double digit% Major tailwinds: Major headwinds: │ EBIT growth GTF fleet management plan │ Working capital management │ Burden from customer compensation payments in 2025 and 2026 │ Imp
Slide 38: Cash deployment strategy — committed to increased shareholder returns
Cash deployment strategy — committed to increased shareholder returns Balanced leverage ratio of net (financial) debt / EBITDA adj. sustainably between 0.5 and 1.5 MTU’s cash deployment strategy Share buybacks as opportunistic Organic instrument growth M&A New program opportunities in OEM as well as
Slide 39: MTU 2030 at a glance
MTU 2030 at a glance Revenue Ebit adj. margin CCR → EUR 13 – 14 billion → 14.5 – 15.5% → High double digit % Outlook based on USD/EUR FX sensitivity: 5 cent deviation 1.10 Revenue impact ~ 500 million EUR EBIT adj. impact ~ 150 million EUR Uniquely positioned for long-term profitable growth
Slide 40: MTU is well positioned in the market to benefit from further growth
MTU is well positioned in the market to benefit from further growth and to deal with market challenges Growth Economical and geopolitical challenges Long-term growth and ongoing strong orderbooks A strong financial and contractual position prepares well → Operational excellence in OEM and MRO as bas
Slide 41: 05 Appendix
05 Appendix In our appendix you will find some more important financial data and further information. If you miss any information, please let us know. Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R
Slide 42: Key financials
Key financials REVENUES EBIT ADJUSTED NET INCOME ADJUSTED FREE CASHFLOW [m €] (EBIT Margin) [m €] [m €] CCR** [m €] 7,488* 6,326* 1,050 (14.0%) 5,330 358 352 818 764 4,628 757 (67%) 326 (59%) (12.9%) (16.4%) (69%) 4,188 655 3,977 594 240 (12.3%) 538 (70%) 468 476 416 (11.2%) 183 (10.5%) (24%) 342 29
Slide 43: Strong balance sheet provides good cushion against ongoing market challenges
Strong balance sheet provides good cushion against ongoing market challenges Key credit figures NET FINANCIAL DEBT CASH & CASH EQUIVALENTS EBITDA EQUITY [m €] [m €] [m €] [m €] 1.747 1.061 961 1.423 3.438 781 753 3.107 965 2.933 673 631 865 2.635 2.760 883 2.421 773 823 712 722 612 140 171* FY 2019
Slide 44: Financial highlights 2024
Financial highlights 2024 REVENUES ADJUSTED EBIT ADJUSTED NET INCOME ADJUSTED FREE CASHFLOW ADJUSTED [m €] (EBIT Margin) [m €] [m €] [m €] 7,488 1,050 (14.0%) 6,326 818 764 +18% (12.9%) +28% 594 +29% 352 -48% 183 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 Investor presentation /
Slide 45: MTU's debt profile
MTU’s debt profile LOAN DETAILS AMOUNT COUPON ISSUE DATE MATURITY Revolving Credit Facility 500 m€ Customary market reference rates plus an additional margin; 29 June 2029 unused credit facilities are subject to a loan commitment fee Fixed Rate Notes 750 m€ Interest coupon 3.875% p.a. 18 Sept. 2024)
Slide 46: USD exchange rate / Hedge portfolio
USD exchange rate / Hedge portfolio HEDGE BOOK AS OF May 6, 2025 IN MILLION USD HEDGING MODEL – USD EXPOSURE I Approx. 75% of USD revenues are covered with USD costs via procurement (“natural hedging”) 1.860 I USD sensitivity will rise over the next years due to increasing net USD exposure 1.320 ROL
Slide 47: Commercial engine portfolio
Commercial engine portfolio AIRCRAFT SEGMENT ENGINE PROGRAM SHARE AIRCRAFT APPLICATION Widebody GP7000 22.5% A380 (50 – 120 klb) PW4000G 12.5% B777 CF6-80C 9.1% B747-400, B767, Boeing MD-11, A310 GEnx 6.6% B787 Dreamliner, B747-8 CF6-80E n.n. A330 CF6-50/80A n.n. DC 10-30, B767, A310 GE9X 4% B777X N
Slide 48: Military engine portfolio
Military engine portfolio AIRCRAFT SEGMENT ENGINE PROGRAM SHARE AIRCRAFT APPLICATION Fighter Aircraft EJ200 30 % Eurofighter Typhoon RB199 40 % Panavia Tornado F414 2.9 % F414: F/A-18 E/F Super Hornet; EA-18G Growler Transport Aircraft TP400 22.2 % A400M Helicopter MTR390 40 % Eurocopter Tiger T408
Slide 49: MTU Management Board
MTU Management Board Lars Wagner Peter Kameritsch Michael Schreyögg Dr. Silke Maurer Chief Executive Officer Chief Financial Officer & Chief Program Officer Chief Operating Officer Appointed until Dec 31, 2025 Chief Information Officer Appointed until June 30, 2026 Appointed until Jan 31, 2026 Appoi
Slide 50: New CEO and CFO at MTU Aero Engines AG
New CEO and CFO at MTU Aero Engines AG New CEO in 2025 New CFO from July 1, 2025 Dr. Johannes Bussmann Katja Garcia Vila 55 years 52 years I Current CEO of TÜV Süd AG I Former CFO at Continental (2021-2024) I Contract term will be for five years I Contract term will be for three years I Over 20 year
Slide 51: Financial calendar and Investor Relations Contact
Financial calendar and Investor Relations Contact 19.02. 06.05. 08.05. Conference call Conference call Annual general meeting Full year results 2024 Q1 2025 results for the fiscal year 2023 24.07. 23.10. 2025 Conference call Q2 2025 results Conference call Q3 2025 results Thomas Franz Claudia Heinle
Slide 52: Thank you for your attention.
Thank you for your attention. Investor presentation / July 25 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G R O U P C O M P A N IYE 52
Slide 53: Contact
Contact Please contact us if you have any further questions MTU Aero Engines AG Thomas Franz Claudia Heinle Matthias Spies Investor Relations Vice President Investor Relations Senior Manager Investor Relations Senior Manager Investor Relations Dachauer Str. 665 Tel.: +49 89 1489 4787 Tel.: +49 89 14
Slide 54: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could
Slide 55: Proprietary Notice
Proprietary Notice Proprietary Notice This document contains proprietary information of the MTU Aero Engines AG group companies. The document and its contents shall not be copied or disclosed to any third party or used for any purpose other than that for which it is provided, without the prior writt