MTU Aero Engines AG

MTU Aero Engines manufacturers engine modules and components, and providers MRO (Maintenance, Repair and Overhaul) services for commercial aero engines. Co.'s activities range through the development, construction, testing and production of new commercial and military engines and spare parts, through to maintenance, repair and overhaul of commercial and military engines. Co.'s segments comprised of: OEM business (Original Equipment Manufacturing), which covers new commercial engines, including spare parts, and the whole of the military sector; and MRO business, which engaged in commercial maintenance activities covering the areas of maintenance and logistical support for commercial engines.
  • TickerMTX
  • ISINDE000A0D9PT0
  • SectorAerospace & Defense
  • CountryGermany
Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Marc Lavaud
  • Nicolas David
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/09/2020

The increase in Fortum’s stake in Uniper to 73.4% upends the two groups’ strategic priorities. In seeking to maintain an investment grade credit rating, Uniper might have to scale back its ambitions in terms of growth investments. In an environment where rivals are looking ahead to the future, Fortum and Uniper are uniting in adversity. We initiate coverage of Uniper with a Reduce rating and a target price of € 24.30. - Cf. company report published last evening. - ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Bottoms-up view on developed int'l, part two Big Picture: Our outlook remains neutral on the MSCI ACWI ex-U.S. index (when priced in local currency) while horizontal consolidation continues. On the other hand, we are negative on broad global ex-U.S. markets when priced in USD... see charts below. In today's report we take a bottoms-up approach to developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities at current levels. Specifically we present actionable stocks within the Communications, Health Care, Manufacturing, Materials, Technology, Transportation, and U...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Olfa Taamallah ...
  • Yan Derocles

MTU Aero Engines : Portfolio’s defensive profile cushions the fall in passenger traffic

>A reassuring tone despite still fragile demand - From the road show organised with Peter Kameritsch (MTU’s CFO) and Matthias Spies (IR manager), we note the confident tone of the message notably on the recovery of the aftermarket given the engine manufacturer’s defensive profile, with opportunities to be seized post-COVID-19 on the maintenance segment in anticipation of sector consolidation. The key takeaways were: 1/ Although visibility remains limited at prese...

Moody's assigns Baa3 rating to MTU's senior unsecured notes

Rating Action: Moody's assigns Baa3 rating to MTU's senior unsecured notes. Global Credit Research- 25 Jun 2020. Frankfurt am Main, June 25, 2020-- Moody's Investors Service, has today assigned a Baa3 rating to the E500 million senior unsecured notes issued by MTU Aero Engines AG.

Moody's announces completion of a periodic review of ratings of MTU Aero Engines AG

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of MTU Aero Engines AG. Global Credit Research- 23 Apr 2020. Frankfurt am Main, April 23, 2020-- Moody's Investors Service has completed a periodic review of the ratings of MTU Aero Engines AG and other ratings that are associated with the same analytical unit.

MTU Aero Engines AG: Update to credit analysis

MTU's credit position reflecting the demand shock from the coronavirus outbreak

Moody's affirms MTU's LT Issuer rating at Baa3, outlook negative

Rating Action: Moody's affirms MTU's LT Issuer rating at Baa3, outlook negative. Global Credit Research- 17 Apr 2020. Frankfurt am Main, April 17, 2020-- Moody's Investors Service, has today affirmed MTU Aero Engines AG's long term issuer rating at Baa3.

MTU Aero Engines AG: Update to credit analysis

MTU's credit position reflecting strong operating performance in 2019 but increasing risks from the coronavirus outbreak

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Marc Lavaud
  • Nicolas David
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/09/2020

The increase in Fortum’s stake in Uniper to 73.4% upends the two groups’ strategic priorities. In seeking to maintain an investment grade credit rating, Uniper might have to scale back its ambitions in terms of growth investments. In an environment where rivals are looking ahead to the future, Fortum and Uniper are uniting in adversity. We initiate coverage of Uniper with a Reduce rating and a target price of € 24.30. - Cf. company report published last evening. - ...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Marc Lavaud
  • Nicolas David
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/07/2020

La montée de Fortum au capital d’Uniper à 73.4% rebat les cartes des priorités stratégiques des deux groupes. La volonté de maintenir la note de crédit en catégorie « investment grade » pourrait se traduire par une réduction des ambitions d’Uniper en matière d’investissements de croissance. Dans un environnement où les concurrents se projettent dans l’avenir, Fortum et Uniper sont en train de s’unir dans l’adversité. Nous initions le suivi d’Uniper avec une opinion Alléger et un OC de...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/04/2020

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/05/2020

...

Alain William ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/17/2020

The impacts of the COVID-19 pandemic are massive on the hotel/leisure sector (2020e EPS forecast down 41%). They undermine the weakest players. Our preference henceforth goes to the most resilient business models and the most solid balance sheets; Advantage Accor and Whitbread. Cf. report published last evening. - ...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

MTU Aero Engines - AGM 05 August 2020

General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company. Item 2: On 17 March 2020, the Management Board and the Supervisory Board initially resolved in light of the COVID-19 pandemic to propose to the AGM that the net profits of financial year 2019 shall be fully carried forward to new acc...

MTU Aero Engines April 11th, 2019

General: MTU Aero Engines is Germany’s leading engine manufacturer, with core competencies in low-pressure turbines, high-pressure compressors, turbine center frames, manufacturing processes and repair techniques. The Company plays a key role in the new engine market through its partnership in many international development, manufacturing and sales programmes, to which it contributes its high-tech components. One third of the global fleet of passenger airliners relies on components supplied by MTU Aero Engines. The Company is also one of the world’s top 5 providers of maintenance services for ...

MTU Aero Engines – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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