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

An increasingly favourable environment allows MTU AERO ENGINES HLDG. to improve to Neutral

The independent financial analyst theScreener just upgraded the general evaluation of MTU AERO ENGINES HLDG. (DE), a company active in the Aerospace & Defense industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains as risky. theScreener believes, however, that a more enabling environment allows the title to increase its general evaluation to Neutral. As of the analysis date August 14, 2020, the closing price was EUR 150.85 and its expected value was estimated at EUR 151.60.

Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/04/2020

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Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/08/2020

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Olfa Taamallah ...
  • Yan Derocles

MTU Aero Engines : The margin deterioration in Q2 does not call into question the strength of MTU’s business model

>Disappointment over EBITA but FCF was reassuring - MTU yesterday reported Q2 2020 results that fell short of expectations with EBITA of € 42.4m, down 76% y-oy, yielding a margin of 5.5% (16% in Q2 2019) versus the consensus forecast of € 48m and a margin of 6.5%. Conversely, FCF beat expectations at € 56.5m (consensus: € 27m) with a conversion rate relative to adjusted net profit of 170%. In detail: i/ the OEM commercial division posted sales of € 231m, down 40%...

Olfa Taamallah ...
  • Yan Derocles

MTU Aero Engines : La détérioration de la marge au T2 ne remet pas en question la solidité du business model de MTU

>Déception sur l’EBITA mais le FCF rassure - MTU a publié hier un T2 2020 en dessous des attentes avec un EBITA de 42.4 M€ en baisse de 76% yoy affichant une marge de 5.5% (16% au T2 2019) contre une attente du consensus à 48 M€ avec une marge de 6.5%. Par contre, le FCF ressort au-dessus des attentes à 56.5 M€ (Cons : 27 M€) avec un taux de conversion par rapport au résultat net ajusté de 170%. Dans le détail : i/ la division OEM Commercial a affiché ...

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

MTU Aero Engines : The margin deterioration in Q2 does not call into question the strength of MTU’s business model

>Disappointment over EBITA but FCF was reassuring - MTU yesterday reported Q2 2020 results that fell short of expectations with EBITA of € 42.4m, down 76% y-oy, yielding a margin of 5.5% (16% in Q2 2019) versus the consensus forecast of € 48m and a margin of 6.5%. Conversely, FCF beat expectations at € 56.5m (consensus: € 27m) with a conversion rate relative to adjusted net profit of 170%. In detail: i/ the OEM commercial division posted sales of € 231m, down 40%...

Olfa Taamallah ...
  • Yan Derocles

MTU Aero Engines : La détérioration de la marge au T2 ne remet pas en question la solidité du business model de MTU

>Déception sur l’EBITA mais le FCF rassure - MTU a publié hier un T2 2020 en dessous des attentes avec un EBITA de 42.4 M€ en baisse de 76% yoy affichant une marge de 5.5% (16% au T2 2019) contre une attente du consensus à 48 M€ avec une marge de 6.5%. Par contre, le FCF ressort au-dessus des attentes à 56.5 M€ (Cons : 27 M€) avec un taux de conversion par rapport au résultat net ajusté de 170%. Dans le détail : i/ la division OEM Commercial a affiché ...

Olfa Taamallah ...
  • Yan Derocles

MTU Aero Engines : A reassuring message on 2020 particularly on cash

>Q2 results slightly shy of estimates at the EBITA level but FCF came in above expectations - MTU has just reported its results for Q2 2020, slightly shy of estimates at the EBITA level but FCF came in above expectations. EBITA is reported at € 42.4m down -76% (consensus: € 48m) on sales of € 776.1m (-30% y-o-y). The EBITA margin stood at 5.5% vs 16% in Q2 2019 (consensus: 6.5%). FCF came at € 56.5m which was better than expected (consensus: € 27m) with a conversion...

Olfa Taamallah ...
  • Yan Derocles

MTU Aero Engines : A reassuring message on 2020 particularly on cash

>Q2 results slightly shy of estimates at the EBITA level but FCF came in above expectations - MTU has just reported its results for Q2 2020, slightly shy of estimates at the EBITA level but FCF came in above expectations. EBITA is reported at € 42.4m down -76% (consensus: € 48m) on sales of € 776.1m (-30% y-o-y). The EBITA margin stood at 5.5% vs 16% in Q2 2019 (consensus: 6.5%). FCF came at € 56.5m which was better than expected (consensus: € 27m) with a conversion...

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...

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

Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/04/2020

...

Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/08/2020

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Bruno Cavalier ...
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/03/2020

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Bruno Cavalier ...
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/08/2020

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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. - ...

An increasingly favourable environment allows MTU AERO ENGINES HLDG. to improve to Neutral

The independent financial analyst theScreener just upgraded the general evaluation of MTU AERO ENGINES HLDG. (DE), a company active in the Aerospace & Defense industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains as risky. theScreener believes, however, that a more enabling environment allows the title to increase its general evaluation to Neutral. As of the analysis date August 14, 2020, the closing price was EUR 150.85 and its expected value was estimated at EUR 151.60.

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 we...

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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