MTU Aero reinstates 2014 revenue target after strong Q3

Thu Oct 23, 2014 2:13am EDT
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BERLIN Oct 23 (Reuters) - German aircraft engine maker MTU Aero Engines increased its 2014 revenue forecast, only a few months after reducing it, as demand for new plane engines continued to grow and its maintenance business showed improvement.

The company, which makes engines for planes manufactured by Boeing, Airbus and Bombardier, reported third quarter adjusted earnings before interest and tax (EBIT) of 100.2 million euros ($126.7 million) and revenue of 995.8 million euros.

Both figures analyst expectations for adjusted EBIT of 98 million euros and revenue of 955 million.

MTU said it now expected 2014 revenue of 3.75 billion euros, reinstating a forecast made earlier this year but lowered to 3.65 billion in July, and operating profit of around 380 million.

($1 = 0.7908 euro) (Reporting by Victoria Bryan; Editing by Maria Sheahan)