MTU Aero Engines (MTX) Q3 2025 earnings summary

Executive summary

• New CEO Johannes Bussmann took office in September 2025, emphasizing a smooth leadership transition and strategic focus on growth and transformation.

• Strong nine-month performance in 2025 led to upgrades in EBIT and free cash flow guidance, with robust results in both Commercial OEM and MRO segments.

• Dr. Ottmar Pfänder appointed as new Chief Program Officer effective January 2026.

• Adjusted revenue rose 19% year-over-year to €6.3 billion, with adjusted EBIT up 34% to €995 million and adjusted net income up 33% to €720 million.

• Strong operational performance led to a more precise full-year guidance, with expectations for another excellent year ahead.

Financial highlights

• Group revenues up 19% year-over-year to €6.3 billion for the first nine months; adjusted EBIT rose 34% to €995 million, margin at 15.9%.

• Adjusted net income reached €720 million; adjusted EPS at €13.21; free cash flow improved 31% to €279 million.

• EBITDA (reported) grew 31% to €1,331 million, and adjusted EBITDA rose 25% to €1,260 million.

• Order book declined 16% to €24.1 billion, mainly due to weaker USD.

• Net financial debt rose 6% to €1,120 million; equity increased 20% to €4,114 million.

Outlook and guidance

• EBIT adjusted growth guidance raised to mid-20% range; net income to grow in line with EBIT.

• Free cash flow guidance increased to €350–400 million for 2025.

• Group sales expected between €8.6–8.8 billion; commercial OEM to grow mid-teens, military mid to high single digits.

• Commercial MRO revenue growth reaffirmed at mid to high teens.

• Effective USD/EUR exchange rate for 2025 guidance updated to 1.13.