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EQS-Ad-hoc: MTU Aero Engines AG / Key word(s): Dividend
Disclosure of inside information in accordance with Article 17 of the Market Abuse Regulation (MAR)
MTU Aero Engines AG Executive Board proposes a dividend of € 2.00 per share for the 2023 financial year and forecasts growth in all market segments
Munich, February 21, 2024 – At its meeting today, the MTU Aero Engines AG Executive Board decided to propose a dividend of €2.00 per share for the 2023 financial year.
As previously communicated, including in an ad hoc announcement on 11 September 2023, the company faces high financial burdens in the years 2024 to 2026 in connection with the geared turbofan inspection program. In addition, MTU is continuing to invest in its sites and in technologies for next-generation products. These factors are expected to lead to high cash flow burdens and in turn, according to current estimates, limit the possibility of paying dividends at the current level in the years 2024 to 2026. Accordingly, the target of continuously increasing the payout ratios and thereby reaching 40% of adjusted net income will be suspended during this period.
MTU’s Executive Board sees the present proposal as a reasonable balance between the expected cash outflows and the company’s strong growth prospects. These aspects are also reflected in its expectations for 2024. MTU assumes growth in all market segments and expects revenue of between € 7.3 and 7.5 billion. The company is forecasting an adjusted EBIT margin of over 12% and also expects a free cash flow in the low three-digit million euro range.
The company will publish its results for the 2023 financial year and details on its forecast for the 2024 financial year as planned on February 29, 2024.
Your contacts at MTU Aero Engines Investor Relations:
Thomas Franz Vice President Investor Relations Phone: + 49 (0) 89 14 89-47 87 Email: Investorrelations@mtu.de
Claudia Heinle Matthias Spies Senior Manager Investor Relations Senior Manager Investor Relations Phone: + 49 (0) 89 14 89-39 11 Phone: + 49 (0) 89 14 89-41 08
End of Inside Information
21-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | MTU Aero Engines AG |
| Dachauer Straße 665 | |
| 80995 München | |
| Germany | |
| Phone: | +49 (0)89 14 89-4787 |
| Fax: | +49 (0)89 14 89-95583 |
| E-mail: | Thomas.Franz@mtu.de |
| Internet: | www.mtu.de |
| ISIN: | DE000A0D9PT0 |
| WKN: | A0D9PT |
| Indices: | DAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1842417 |
| End of Announcement | EQS News Service |
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1842417 21-Feb-2024 CET/CEST
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