MRO business drives strong first quarter for MTU

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Engine manufacturer MTU kicked off 2012 with a strong first quarter as its commercial MRO business drove a 5% sales increase to €698 million ($922.8 million) and lifted operating profit - EBIT - by 14% to €91 million for the period to 31 March.

Orders also surged 7% to €11.2 billion on the back of demand for the Pratt & Whitney PW1000G geared turbofan to which MTU is a major contributor.

MRO revenue gained 17% to €293 million, mostly from work on the International Aero Engines V2500, which is an option on the Airbus A320 family.

In commercial engines and spare parts, revenue dipped 3% to €297 million, reflecting a shift in demand from widebody engine programmes to narrowbodies. MTU's key revenue drivers for commercial engine and spare parts business were the V2500 engine, the PW2000 engine for the Boeing 757 and C-17, and the Engine Alliance GP7200 engine that powers the Airbus A380.

Revenues for military engine business rose by 4% to €115 million, with the EJ200 engine for the Eurofighter accounting for the biggest share.