Sunday, 19 September 2021 11:47 GMT

German MTU Aero Engines increases full-year prospect in spite of lower H1 revenue

(MENAFN) On Friday, Jul. 30 Germany’s manufacturer MTU Aero Engines said that net profit of the company during the first six months of 2021 decreased 17.6 percent annually to 103 million euros (USD122.2 million).

MTU's H1 proceeds nearly stayed on 2020 level at just over USD2,3 billion. At USD1,60 billion, most proceeds came from commercial maintenance, a rise by six percent annually.

Proceeds in the firm’s commercial engine business decreased "particularly sharply" from USD748 million to USD611 million in the January-June period.

Chief Executive Officer (CEO) Reiner Winkler noted: "MTU continued to operate profitably in the first half of this year. Based on this performance and the improved visibility up to year-end, we can now give a more precise guidance for the 2021 fiscal year."

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