DGAP-Ad-hoc: MTU Aero Engines AG / Key word(s): Forecast
MTU Aero Engines AG withdraws guidance 2020
Especially due to significant reductions in passenger air traffic and the consequences for airlines, revenues and adjusted EBIT for the financial year 2020 are expected not to grow with a high single digit percentage as forecast. The cash conversion rate, expressing the ratio of free cashflow to net income adjusted, is also likely not to reach the forecast 70 percent in 2020. Due to the dynamic of worldwide developments in the context of COVID-19 a specification of expectations with regard to revenues, adjusted EBIT and especially the cash conversion rate, based on the developments of the coming weeks and the resulting consequences for the Company's performance, can be made only at a later point in time.
MTU will publish its annual report for the financial year 2019 on March 27, 2020. The predications for the future business development in the financial year 2020 contained in the forecast are based especially on market assessments and estimations at the beginning of the year 2020 which were not regarded obsolete at the time of approval of the annual financial statements on March 17, 2020. In the light of the actual developments such predications cannot be maintained.
MTU closely observes the situation regarding COVID-19 and takes operative precautions to minimize consequences on its financial position, financial performance and cashflows.
Your MTU Aero Engines Investor Relations Contacts:
Claudia Heinle Matthias Spies
26-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||MTU Aero Engines AG|
|Dachauer Straße 665|
|Phone:||+49 (0)89 14 89-4787|
|Fax:||+49 (0)89 14 89-95583|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1008435|
|End of Announcement||DGAP News Service|
1008435 26-March-2020 CET/CEST