MTU Aero Engines AG · XETR:MTX
MTU Aero Engines — Investor Presentation (November 2025)
61 slides from MTU Aero Engines's investor presentation, November 2025
Slide 1: MTU Aero Engines AG Investor presentation
WE SHAPE THE FUTURE OF AVIATION MTU Aero Engines AG I Investor presentation November 2025 Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY
Slide 2: Agenda
Click to chapters Agenda 01 Track record 03 Production & Technology 05 Appendix 02 Market position 04 Financial outlook Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 2
Slide 3: 01 Track record
01 Track record We are one of the pioneers of the aviation industry, firmly established as leading manufacturer of aircraft engines and member of the DAX stock index. Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES
Slide 4: MTU looks back on many important names from German industrial history
01 TRACK RECORD MTU looks back on many important names from the German industrial history 1934 1969 2005 Today BMW Flugmotorenbau GmbH MTU MTU goes public MTU Aero Engines is is founded 50% Daimler Benz listed on Germany‘s DAX 50% MAN index 1989 1965 MTU becomes an affiliate of MAN takes over Deutsc
Slide 5: We shape the future of aviation!
01 TRACK RECORD We shape the future of aviation! WHAT WE DO HOW WE DO IT FISCAL I Design, development, production I People: more than 12,000 employees YEAR 2024 and support of aircraft engines in all at 19 locations Revenue adjusted thrust categories I Partnerships: with all OEMs, airlines and € 7.5
Slide 6: MTU at a Glance
01 TRACK RECORD MTU at a Glance COMMERCIAL OEM BUSINESS MILITARY OEM BUSINESS COMMERCIAL MRO* BUSINESS I Adjusted revenues: € 1.9 billion (25 %) I Revenues: € 0.6 billion (8 %) I Revenues: € 5.1 billion (67 %) I Long-standing partnerships with OEMs, I European and U.S. engine programs I Largest port
Slide 7: 02 Market position
02 Market position 2024 marked a record year – MTU is set to shape the future of aviation Investor presentation / November 2025 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G R O U P C O
Slide 8: The aero engine industry
02 MARKET POSITION The aero engine industry CHARACTERISTICS HIGH BARRIERS TO ENTRY I Industry players specialize in different I High level of technological expertise modules and technologies required I Oligopolistic structure of market I Substantial up front investment I OEM business and MRO are per
Slide 9: Commercial OEM
Commercial OEM Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 9
Slide 10: Long-term fundamentals for the aerospace industry remain intact
02 MARKET POSITION | COMMERCIAL OEM Long-term fundamentals for the aerospace industry remain intact POSITIVE MARKET ENVIRONMENT FOR THE AVIATION INDUSTRY 20-year annual 20-year annual RPK1) 20-year annual CTK2) 20-year new jet aircraft GDP growth 2.4% traffic growth 4.0% traffic growth 3.6% deliveri
Slide 11: MTU is an essential partner in the engine value chain
02 MARKET POSITION | COMMERCIAL OEM MTU is an essential partner in the engine value chain SUBSYSTEM/ ENGINE COMPONENT MODULE MATERIAL SUPPLIERS* SUPPLIERS* SUPPLIERS* ENGINE OEMS* AIRFRAMERS* AIRLINE OPERATIONS MRO ENGINE MRO OEM MARKET AFTERMARKET * selected market participants Investor presentatio
Slide 12: MTU's unique market position in both segments OEM and MRO
02 MARKET POSITION | COMMERCIAL OEM MTU’s unique market position in both segments OEM and MRO OEM MRO I BizJets/Regional/Narrowbodies form the I No. 1 Independent MRO provider worldwide backbone of MTU’s portfolio I Broadest global portfolio with 30+ engine I Strategic long-term partnership with Pra
Slide 13: A diversified portfolio across product life cycle is key to long-term success
02 MARKET POSITION | COMMERCIAL OEM A diversified portfolio across product life cycle is key to MTU’s long-term success 01 + PROGRAMS Entry into service CF6-80, LM6000 MTU outperforms the market in three 747, 767, IGT, A300, V2500 A310, A330 of the four market segments by: A320, MD-90, GP7000 KC-390
Slide 14: MTU expands its position in all commercial OEM market segments
02 MARKET POSITION | COMMERCIAL OEM In the commercial OEM business MTU expands its position in all market segments BUSINESS JETS REGIONAL JETS NARROWBODIES WIDEBODIES Balanced portfolio Only new generation engine Broad market coverage Adding the biggest and in segment strongest engine to the portfol
Slide 15: Military OEM
Military OEM Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 15
Slide 16: Solid military engine portfolio
02 MARKET POSITION | MILITARY OEM Solid military engine portfolio FCAS CH-53K Eurocopter Tiger Tornado NGFE T408 MTR 390 RB199 EIS ~2040 EIS 2021 EIS 2004 EIS 1979 A400M Eurofighter Next Gen TP400-D6 EJ200 Helicopter Year 0 40-50 years Entry into service in service EIS 2013 EIS 2003 R&D SERIES PRODU
Slide 17: Kick-off for the European new-generation fighter engine
02 MARKET POSITION | MILITARY OEM Kick-off for the European new-generation fighter engine ACHIEVEMENTS ~ 2,000 engines expected ~ 500 engineers at MTU I Foundation of 50:50 JV EUMET in 2021 I Strong partnerships across Europe I Start of demonstrator phase 1B, first milestones reached TIMELINE OF THE
Slide 18: Commercial MRO
Commercial MRO Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 18
Slide 19: MTU's MRO growth driven by enhanced product portfolio and expanded capacity
02 MARKET POSITION | COMMERCIAL MRO MTU’s MRO growth driven by an enhanced product portfolio and expanded capacity MRO REVENUES IN BILLION US$ Financially strong Digital solutions for and committed to seamless customer investments in growth interaction and efficient fleet optimization Largest MRO en
Slide 20: MTU is working consistently to strengthen its MRO market presence
02 MARKET POSITION | COMMERCIAL MRO MTU is working consistently to further strengthen its MRO market presence SECURE EXPANSION OF SERVICE PRESENCE IN INCREASE MARKET ACCESS AND PRODUCT PORTFOLIO KEY MARKETS COMPETITIVENESS I Increase independent MRO I Expansion of existing and I Expansion of global
Slide 21: MTU Maintenance's diverse market access strategies drive sustained growth
02 MARKET POSITION | COMMERCIAL MRO MTU Maintenance’s diverse market access strategies drive sustained growth INDEPENDENT MRO OEM MRO PARTNERSHIPS JOINT VENTURES WITH AIRLINES MARKET ACCESS I No.1: MTU is the largest independent I Majority of new engines with MTU I MTU’s unique MRO expertise makes i
Slide 22: Expansion of our global MRO network is progressing
02 MARKET POSITION | COMMERCIAL MRO Expansion of our global MRO network is progressing Canada Zhuhai (JV) Move to new facility 2021 Shop expansion 2021 Fort Worth Zhuhai Jinwan (JV) Transition to full DAT shop New shop 2025 Hannover Ludwigsfelde Serbia EME Aero (JV) ASSB Airfoil Service (JV) WB expa
Slide 23: 03 Technology
03 Technology Investor presentation / November 2025 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G R O U P C O M P A N IYE 23
Slide 24: Leading technology paving the way for emissions-free flight
03 TECHNOLOGY Leading technology paving the way for emissions-free flight LEADING TECHNOLOGY FOR CORE ENGINE PAVE THE WAY FOR MODULES AND PRODUCTION PROCESSES EMISSIONS-FREE FLIGHT I Fast running low-pressure turbine (LPT), I Sustainable technologies are paving the way high-pressure compressor (HPC)
Slide 25: Technology Roadmap
03 TECHNOLOGY Technology Roadmap Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 25
Slide 26: MTU's future propulsion concepts — reducing the climate impact
03 TECHNOLOGY | ROADMAP MTU’s future propulsion concepts — reducing the climate impact Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 26
Slide 27: Evolutionary GTF development — future is geared
03 TECHNOLOGY | ROADMAP Evolutionary GTF development — future is geared 2016 | GTF Base 2025 | GTF Advantage 2035+ | NextGen GTF Unprecedented fuel burn enabled by Maturation of world class technology Proven engine architecture elevated to geared architecture │ Higher thrust for longer missions next
Slide 28: The Flying Fuel Cell
03 TECHNOLOGY | ROADMAP The Flying Fuel Cell │Good progress towards our target: Technology readiness of the Flying Fuel CellTM │Design finalized, demonstrator production started │Initial testing of electric motor successfully completed, efficiency rate of 96% confirmed Partner and supplier Test faci
Slide 29: OEM Production
OEM Production Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 29
Slide 30: MTU focuses on five core engine competencies
03 TECHNOLOGY | OEM PRODUCTION MTU focuses on five core engine competencies – three core components and on unique manufacturing and maintenance processes MANUFACTURING High-pressure compressor (HPC) Low-pressure turbine (LPT) MAINTENANCE Turbine center frame (TCF) Investor presentation / November 20
Slide 31: The global OEM footprint will be key for future growth
03 TECHNOLOGY | OEM PRODUCTION The global OEM footprint will be key for the future growth of MTU IN-HOUSE PRODUCTION NETWORK SUPPLIER NETWORK Procurement & in-house production share (2024) 29% 71% In-house Procurement value by MTU creation → We continuously define the optimal global set-up to positi
Slide 32: A clear target picture for the global OEM footprint
03 TECHNOLOGY | OEM PRODUCTION A clear target picture for the global OEM footprint has been derived based on a reliable and representative simulation model TARGET PICTURE PRODUCTION OEM TARGET PICTURE PRODUCTION OEM MUNICH RZESZÓW │ Automated production of complex │ Enabling the site for the product
Slide 33: Environmental, Social, Governance
Environmental, Social, Governance Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 33
Slide 34: Driving climate change mitigation — well on track to reach 2030 target
03 TECHNOLOGY | ESG Driving climate change mitigation — well on track to reach 2030 target OWN OPERATIONS: GHG-EMISSIONS IN SCOPE 1&2 NEW CLIMATE STRATEGY: GHG-EMISSIONS IN SCOPE 1&2 TARGET ACHIEVEMENT BY 20224 -60% -42.2% in 2030 in 2024 Scope 1&2 emissions from 2019 Scope 1&2 emissions from 2019 I
Slide 35: Primary driver of Scope 3 emissions is the use of sold products
03 TECHNOLOGY | ESG The primary driver of Scope 3 greenhouse gas emissions is the use of sold products INDIRECT GHG-EMISSIONS IN SCOPE 3 3.1 Purchased goods & services* Engagement & improvement of supply chain data 3.15 Investments* Engagement & collaboration with Joint Ventures 3.11 Use of sold pro
Slide 36: 04 Financials & outlook
04 Financials & outlook Investor presentation / November 2025 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G R O U P C O M P A N IYE 36
Slide 37: Financial strength setting the ground for new investments
04 FINANCIAL & OUTLOOK Financial strength setting the ground for new investments LAYS THE FOUNDATION FOR PROFITABLE AND FINANCIAL STRENGTH SUSTAINABLE GROWTH OF OUR BUSINESS I Strong balance sheet with sound leverage I Investing in innovative technologies and robust liquidity I Driving digitalizatio
Slide 38: Update 2025 & mid-term outlook
Update 2025 & mid-term outlook Investor presentation / November 2025 © MTU AERO ENGINES AG / THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO THE MTU AERO ENGINES GROUP COMPANY 38
Slide 39: Guidance 2025 — exceptional performance
04 FINANCIAL & OUTLOOK Guidance 2025 — exceptional performance ORGANIC REVENUE Total group sales EBIT adj. absolute MILITARY COMMERCIAL OE € 8.6 — 8.8 billion Up mid twenties % ~ up mid to high single digit % ~ up mid teens % Net income adj. FCF COMMERCIAL SPARES COMMERCIAL MRO Growth in line with E
Slide 40: Future business drivers
04 FINANCIAL & OUTLOOK Future business drivers COMMERCIAL OE COMMERCIAL SPARES │ New engine revenues to grow strongly in coming │ Continuous growth from narrowbody engines years, plateauing towards the end of this decade │ Contribution from newer widebody engine programs │ GTF production volume grow
Slide 41: Future business drivers
04 FINANCIAL & OUTLOOK Future business drivers MILITARY COMMERCIAL MRO │ Geopolitical developments triggers expectations in │ Narrowbody MRO growth continues military business │ GTF volumes growing predominantly in best cost │ Increasing deliveries for EJ200 and T408 sites │ High support volume for
Slide 42: Revenue and EBIT adj. margin outlook
04 FINANCIAL & OUTLOOK Revenue and EBIT adj. margin outlook REVENUE GROWTH EBIT ADJ. MARGIN AMBITION 2030 PER CAGR 2024 — 2030 SEGMENT AT 1.10 USD/EUR Military up mid to high single digit % OE sales are outgrown by 28 – 30 % profitable aftermarket OEM Commercial OE up mid to high single digit % Comm
Slide 43: 2024 – 2030 CCR outlook
04 FINANCIAL & OUTLOOK 2024 – 2030 CCR outlook CCR expected to continuously improve Cash Act. 2024 Ambition 2030 Conversion ~24% high double Rate digit % MAJOR TAILWINDS MAJOR HEADWINDS │ EBIT growth GTF fleet management plan │ Working capital management │ Burden from customer compensation payments
Slide 44: Cash deployment strategy — committed to increased shareholder returns
04 FINANCIAL & OUTLOOK Cash deployment strategy — committed to increased shareholder returns Balanced leverage ratio of net (financial) debt / EBITDA adj. sustainably between 0.5 and 1.5 MTU’s cash deployment strategy Share buybacks as opportunistic Organic instrument growth M&A New program opportun
Slide 45: MTU 2030 at a glance
04 FINANCIAL & OUTLOOK MTU 2030 at a glance Revenue Ebit adj. Margin CCR → EUR 13 – 14 billion → 14.5 – 15.5% → High double digit % Outlook based on USD/EUR FX sensitivity: 5 cent deviation 1.10 Revenue impact ~ 500 million EUR EBIT adj. impact ~ 150 million EUR Uniquely positioned for long-term pro
Slide 46: Why it's worth investing in MTU
04 FINANCIAL & OUTLOOK Why it’s worth investing in MTU OUTSTANDING MARKET LONG-TERM GROWTH CLEAR TECHNOLOGY SOLID BALANCE SHEET BALANCED PRODUCT POSITION ROADMAP TOWARDS STRUCTURE PORTFOLIO EMISSION-FREE FLYING I Technological leadership in I Benefiting from global I Clear technology roadmap I Solid
Slide 47: 05 Appendix
05 Appendix In our appendix you will find some more important financial data and further information. If you miss any information, please let us know. Investor presentation / November 2025 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E
Slide 48: Key financials
05 APPENDIX Key financials REVENUES EBIT ADJUSTED NET INCOME ADJUSTED FREE CASHFLOW [m €] (EBIT Margin) [m €] [m €] CCR** [m €] 7,488* 6,326* 1,050 (14.0%) 358 352 5,330 818 764 (67%) 326 (59%) 4,628 757 (12.9%) (69%) (16.4%) 4,188 655 3,977 594 240 (12.3%) 538 (70%) 468 476 416 (11.2%) 183 (10.5%)
Slide 49: Strong balance sheet provides good cushion against market challenges
05 APPENDIX Strong balance sheet provides good cushion against ongoing market challenges Key credit figures NET FINANCIAL DEBT CASH & CASH EQUIVALENTS EBITDA EQUITY [m €] [m €] [m €] [m €] 1.747 1.061 961 1.423 3.438 781 753 3.107 965 2.933 673 865 2.635 2.760 631 883 2.421 823 712 773 722 612 140 1
Slide 50: Financial highlights 2024
05 APPENDIX Financial highlights 2024 REVENUES ADJUSTED EBIT ADJUSTED NET INCOME ADJUSTED FREE CASHFLOW ADJUSTED [m €] (EBIT Margin) [m €] [m €] [m €] 7,488 1,050 (14.0%) 6,326 818 764 +18% (12.9%) +28% 594 +29% 352 -48% 183 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 Investor pr
Slide 51: MTU's debt profile
05 APPENDIX MTU’s debt profile LOAN DETAILS AMOUNT COUPON ISSUE DATE MATURITY Customary market reference rates plus an additional margin; Revolving Credit Facility 500 m€ unused credit facilities are subject to a loan commitment fee 29 June 2029 18 Sept. 2024) Fixed Rate Notes 750 m€ Interest coupon
Slide 52: USD exchange rate / Hedge portfolio
05 APPENDIX USD exchange rate / Hedge portfolio HEDGE BOOK AS OF 23rd OF OCTORBER 2025 IN MILLION USD HEDGING MODEL—USD EXPOSURE | Approx. 80% of USD revenues are covered with AVERAGE HEDGE RATE (US$/€) USD costs via procurement (“natural hedging”) 1.10 1.13 | USD sensitivity will rise over the next
Slide 53: Commercial engine portfolio
05 APPENDIX Commercial engine portfolio AIRCRAFT SEGMENT ENGINE PROGRAM SHARE AIRCRAFT APPLICATION Widebody GP7000 22.5% A380 (50 – 120 klb) PW4000G 12.5% B777 CF6-80C 9.1% B747-400, B767, Boeing MD-11, A310 GEnx 6.6% B787 Dreamliner, B747-8 CF6-80E n.n. A330 CF6-50/80A n.n. DC 10-30, B767, A310 GE9
Slide 54: Military engine portfolio
05 APPENDIX Military engine portfolio AIRCRAFT SEGMENT ENGINE PROGRAM SHARE AIRCRAFT APPLICATION Fighter Aircraft EJ200 30 % Eurofighter Typhoon RB199 40 % Panavia Tornado F414 2.9 % F414: F/A-18 E/F Super Hornet; EA-18G Growler Transport Aircraft TP400 22.2 % A400M Helicopter MTR390 40 % Eurocopter
Slide 55: MTU Executive Board
05 APPENDIX MTU Executive Board Dr. Johannes Bussmann Katja Garcia Vila Michael Schreyögg Dr. Silke Maurer CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER & CHIEF PROGRAM OFFICER CHIEF OPERATING OFFICER Appointed until July 14, 2030 CHIEF INFORMATION OFFICER Appointed until June 30, 2026 Appointed u
Slide 56: Dr. Ottmar Pfänder to succeed Michael Schreyögg as Chief Program Officer
05 APPENDIX Dr. Ottmar Pfänder to succeed Michael Schreyögg as new Chief Program Officer Dr. Ottmar Pfänder CHIEF PROGRAM OFFICER Appointed until Dez 31, 2028 I Appointed to the Executive Board effective January 1, 2026 I Will be responsible for marketing & sales and program management across MTU’s
Slide 57: Financial calendar and Investor Relations Contact
05 APPENDIX Financial calendar and Investor Relations Contact 24.02. 30.04. 07.05. Conference call Conference call Annual general meeting Full year results 2024 Q1 2026 results for the fiscal year 2025 30.07. 29.10. 30.11. 2026 Conference call Q2 2026 results Conference call Q3 2026 results Capital
Slide 58: Thank you for your attention.
Thank you for your attention. Investor presentation / November 2025 © M T U A E R O E N G I N E S A G / T H E I N F O R M A T I O N C O N T A I N E D H E R E I N I S P R O P R I E T A R Y T O T H E M T U A E R O E N G I N E S G R O U P C O M P A N IYE 58
Slide 59: Contact
Contact Please contact us if you have any further questions MTU Aero Engines AG Thomas Franz Claudia Heinle Matthias Spies Investor Relations Vice President Investor Relations Senior Manager Investor Relations Senior Manager Investor Relations Dachauer Str. 665 Tel.: +49 89 1489 4787 Tel.: +49 89 14
Slide 60: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could
Slide 61: Proprietary Notice
Proprietary Notice Proprietary Notice This document contains proprietary information of the MTU Aero Engines AG group companies. The document and its contents shall not be copied or disclosed to any third party or used for any purpose other than that for which it is provided, without the prior writt
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