Press Archive 2006

Ludwigsfelde - MTU Maintenance Berlin-Brandenburg will have a new president and chief executive officer when on February 1, 2007, Dr. Wolfgang Konrad takes the helm of the MRO specialist at Ludwigsfelde. Konrad, who holds a doctor's degree in mechanical engineering, succeeds André Wall, who after two years at Ludwigsfelde will accept an executive management position with Swiss-based Jet Aviation.

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Ludwigsfelde, Germany - MTU Maintenance Berlin-Brandenburg has been awarded an agreement valued at approximately NKr 350 Mill. (appr. 42 Mill. €) to provide maintenance services for GE LM gas turbines used in offshore platforms in the North Sea and onshore facilities located in Norway. The sites are owned and operated by oil exploration companies STATOIL ASA, a Norwegian company based in Stavanger, Norway, Norsk Hydro Produksjon AS and Exxon Mobile Exploration and Production Norway AS.

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Munich – MTU Aero Engines Holding AG continues on its positive growth trend: In the first nine months of 2006, the company’s revenues rose by 13% to €1,749.9 million (1-9/05: €1,545.6 million). The sector reporting the highest growth rate was once again commercial maintenance, repair and overhaul (MRO). MTU’s pre-tax earnings have also improved significantly, with EBITDA1 progressing from €166.6 million at end September 2005 to €224.7 million at end September 2006: a year-on-year increase of 35%. This increase is even more pronounced in the adjusted figures for net income2, which has more than doubled in comparison to the same period last year, rising 148% to €87.7 million (1-9/05: €35.3 million).

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Hannover – MTU Aero Engines keeps updating the PW6000 success story: on Tuesday, August 29, at MTU Maintenance Hannover in Germany's Langenhagen, the first PW6000 production engine was handed over to customer Pratt & Whitney in the presence of Lower Saxony's economics minister Walter Hirche. Witnessing the ceremony also were representatives of European aircraft maker Airbus.

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Munich – MTU Aero Engines Holding AG in the first half year of 2006 enjoyed continued growth: sales rose 12% to € 1,148.5 million (1-6/05: € 1,025.7 million), the growth again being driven mostly by commercial maintenance, repair and overhaul (MRO). The company posted appreciable gains in earnings: EBITDA1 improved 39% to € 142.1 million (1-6/05: € 102.3 million). The profit surge was especially apparent in adjusted net income2, which MTU in the first six months of the year more than tripled, from € 17.5 million in the first half-year 2005 to € 55.4 million.
 

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Ludwigsfelde, Germany – MTU Maintenance Berlin-Brandenburg has just secured the largest CF34 repair contract in its history. Air Wisconsin Airlines Corporation will send all of the CF34-3B1 engines powering its fleet of 70 twin-engine Bombardier CRJ200 regional jets to Ludwigsfelde for repair and overhaul. The ten-year contract is worth about 240 million euros ($300 million).

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Farnborough – MTU Aero Engines has become a risk- and revenue-sharing participant in General Electric Company’s F414 fighter engine program. This marks MTU’s first direct program participation in the U.S. military market. The contract signing ceremony was held on Monday, July 17, at the Farnborough International Airshow by MTU CEO Udo Stark, and by Russ Sparks, president of GE-Aviation  Military Engine Systems.

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Munich – The new European technology program Newac (New Aero Engine Core Concepts) was launched recently under the lead of MTU Aero Engines. This new research program is backed by the EU under its 6th Research Framework Program and commands an overall budget of €71 million. Newac will run for four years and aims to reduce CO2 emissions by 6 per cent and NOx emissions by 17 per cent through improvements to the engine core.

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Hannover – MTU Maintenance Hannover has secured a new customer when it recently inked a sole-source deal with the U.S.'s Gemini Air Cargo. The nine-year agreement, worth about 52 million euros, is for the repair and overhaul of 13 CF6-80C2 series engines. The first of the CF6-80C2s has already been received in Hannover. 

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Munich – Light in weight, heat-resistant and affordable: for use in low-pressure and intermediate-pressure turbines, MTU Aero Engines has succeeded in developing LEK94, a material that is setting new benchmarks. "A material of this type was still missing in the current offerings of high-temperature materials. There're lots of pricey and heavy high-end materials around, but with their overwhelming temperature and strength capabilities they tend to be overgunned in some of the applications," explains Dr. J?rg Esslinger, who supervises materials engineering at MTU. The new lightweight has promptly found a prominent home in the low-pressure turbine of the GP7000 powering the Airbus A380.

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Munich – MTU Aero Engines Holding AG in the first quarter of 2006 posted appreciable sales and profit gains, continuing the healthy trend of fiscal 2005. In the process, sales in the first three months of 2006 rose 10.8%, to € 564.8 million (1-3/05: € 509.7 million). Concurrently, operating profit1 grew 21.1%, to € 66.6 million (1-3/05: € 55.0 million). The sharp jump in profit registered more clearly even after taxes, with MTU more than doubling adjusted net income2 from € 11.2 million in the same quarter a year ago to € 25.7 million in the first three months of 2006. 

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Munich – MTU Aero Engines Holding AG in 2005 stayed on its growth track. Fiscal 2005 sales rose 12 %, from 1,918.0 million € to 2,148.6 million €. This gain went hand in hand with an overproportional increase in operating profit1 to 233 million €, up by 35 % over the year before (2004: 172.2 million €). The cash flow from operational activities nearly quadrupled, from 72.9 million € to 290.1 million €.

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Munich – Upon a proposal by the holding, the Munich register court has named Louis R. Hughes (56) to the supervisory board of MTU Aero Engines Holding AG, effective January 30, 2006. 

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Munich – Private equity investor Kohlberg Kravis Roberts (KKR) has sold the 29.3 percent share it still held after MTU Aero Engines Holding AG went public. The stock went to various institutional investors. KKR informed MTU of this move on January 31, 2006.

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Ludwigsfelde – Effective immediately, MTU Maintenance Berlin-Brandenburg is free to repair General Electric CF34-8 engines. On Monday, January 30, 2006, the German Federal Office of Civil Aeronautics granted EASA approval and also FAA approval. This adds a new dimension to operations at the Ludwigsfelde company. There are over 750 CF34-8 engines in revenue service. 1,500 more have been ordered or orders are expected to be firmed up - by 2014, the total order will be around 2,700. This makes this version of the CF34 the fastest growing of the CF34 family. The repair work will be worth about one billion euros globally over the next eight years.

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