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Munich (dpa) - The Munich engine manufacturer MTU has clearly stayed in the black in 2020 despite the severe crisis in the aviation industry.
For the new year, CEO Reiner Winkler expects growth after the recent business slump, as the Dax group announced on Thursday in Munich.
Sales are expected to rise to 4.2 to 4.6 billion euros.
Of this, 9.5 to 10.5 percent should remain with the company as operating profit (adjusted EBIT).
Even though MTU has steered through the corona crisis without red numbers, the company clearly felt the consequences of the pandemic for air traffic and the plight of many airlines.
In the past year, MTU's sales dropped by 14 percent to almost 4 billion euros.
The operating profit went down by 45 percent to 416 million euros.
The surplus even collapsed by 70 percent to 147 million euros.
This was due to the provisions for the reduction of up to 1,500 jobs and, last but not least, to Boeing's completely overhauled large-capacity 777X, whose first delivery is expected to be delayed until the end of 2023.
MTU is helping to build the US company General Electric's engine, which is used on the aircraft, and in this connection posted a special charge of 70 million euros.
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The Munich-based company is working on a whole range of engines for passenger and cargo aircraft, but also on the engines for the A400M military transporter and the Eurofighter fighter jet.
MTU is particularly thick with the geared turbofan engine from Pratt & Whitney, which is mainly used in the Airbus medium-haul jets of the A320neo family and the smaller Airbus A220.
The shareholders can again count on a noteworthy dividend.
For example, MTU plans to distribute 1.25 euros per share for 2020.
For 2019 they only received the statutory minimum dividend of 4 cents per share because the MTU management wanted to keep the Group's money together because of the Corona crisis.
© dpa-infocom, dpa: 210218-99-497965 / 2