MTU Aero Engines 4Q Net Income Rises 52%

By Robert Wall

MUNICH--MTU Aero Engines AG Thursday said net income for the fourth quarter rose 52.1% aided by favorable currency trends and that profit should rise more than 12% in 2015.

Reported net income for the period was 62.5 million euros ($70.7 million) and advanced 17.5% to EUR195.4 million for the year, the Munich-based company said in a statement. The more closely watched adjusted net income, which strips out some accounting issues, rose 6.2% last year to EUR253.3 million.

Sales for the year reached a record EUR3.9 billion after revenue advanced 20% in the October to December period, MTU said.

The fortunes at aircraft engine makers have been lifted as Boeing Co. and Airbus Group NV drive production of jetliners to record levels. The world's two biggest plane makers delivered more than 1,300 aircraft last year and plan to ship more in 2015.

The German aircraft engine maker said sales this year should reach EUR4.4 billion delivering adjusted net income of about EUR285 million. Business growth will be driven by new engines sales which are less profitable than the company's spare parts business.

The company said it would set its dividend on March 3.

Write to Robert Wall at [e-mail]