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 ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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