MTU Aero Engines hikes 2025 outlook on stronger US dollar after sales beat
Adds details on outlook in paragraphs 2, 4, 5 and 7, 2024 revenue in paragraph 6
Feb 19 (Reuters) - German engine manufacturer MTU Aero Engines MTXGn.DE on Wednesday raised its guidance for 2025 based on a lower assumed exchange rate of the euro versus the U.S. dollar, as it topped market expectations for 2024 revenue.
Stronger U.S. dollar benefits the Airbus AIR.PA and Boeing BA.N supplier as it books most of its orders in dollars.
MTU, which also makes the engine for the Eurofighter Typhoon, forecast revenue of between 8.7 billion and 8.9 billion euros ($9.10 billion and $9.31 billion) for 2025, up from a previous range of 8.3 billion to 8.5 billion euros.
It also expects its adjusted operating profit to grow in a mid-teens percentage range, compared with the earlier range of low to mid-teens.
The company said the outlook was now based on an exchange rate of 1.05 euros to 1 dollar, instead of the previously assumed rate of 1.10.
MTU reported an 18% rise in its annual adjusted revenue to 7.5 billion euros in 2024, beating analysts' average forecast of 7.4 billion euros in a company-provided consensus.
It said all business areas should contribute to further revenue growth in 2025.
($1 = 0.9564 euros)
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