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● MTU MTU Aero Engines publishes its quarterly figures ● Revenue down 22 % ● Aero Engines Operating profit 52 % lower , net income down 55 % Free cash flow of € 106 million Forecast for 2021 confirmed Munich , April 30 , 2021 - MTU Aero Engines AG has published its figures for the first quarter of 2021 : Revenue was € 989 million , compared with € 1,273 million in the first quarter of 2020. The operating profit¹ decreased from € 182 million to € 86 million . The adjusted EBIT margin was 8.7 % ( 1-3 / 2020 : 14.3 % ) . Adjusted net income² was € 58 million , compared with € 128 million in the prior - year period . " In the year - on - year comparison , it should be noted that the first three months of 2020 were a very strong quarter and the coronavirus pandemic had not yet affected our business figures , " said Reiner Winkler , CEO of MTU Aero Engines AG . " We are still operating profitably , even in the most severe crisis in our sector , and are confident that we will achieve the targets we have set for the full year . " MTU is therefore confirming its forecast for 2021 . There was a sharp drop in revenue in the first quarter of 2021 , especially in the commercial engines business , where revenue fell by 37 % to € 250 million ( 1-3 / 2020 : € 399 million ) . " In this crisis , the airlines are focusing mainly on modern narrowbody aircraft , " said Winkler . " In view of this , it is not surprising that in the first quarter revenue in the commercial engine business was driven mainly by the PW 1100G - JM engine for the A320neo . " Revenue from the commercial maintenance business declined by 15 % in the first quarter - from € 795 million to € 678 million . " The drop in revenue in our core business was partially offset by rising mainte nance work on Geared Turbofan ™ engines , " said Winkler . The most important revenue generators in the commercial maintenance business were the PW1100G - JM and the V2500 for the classic A320 aircraft family . Quarterly Statement Revenue from the military engine business contracted by 11 % to € 87 million in the first quarter ( 1-3 / 2020 : € 98 million ) . " The figures reflect the typical shifts within the quarters . The military business has not been affected by the coronavirus crisis , " said Winkler . The main source of revenue in the military engine business was the EJ200 engine for the Eurofighter . MTU's order backlog at the end of the quarter was € 20.2 billion , an increase of 9 % compared with year end 2020 ( December 31 , 2020 : € 18.6 billion ) . The majority of these orders were for the V2500 and the Geared Turbofan ™ engines of the PW1000G family , especially the PW1100G - JM . ¹ Adjusted EBIT = adjusted earnings before interest and taxes Adjusted net income = adjusted income after income taxes MTU Aero Engines AG Investor Relations Dachauer Straße 665 80995 München Germany Phone Fax +49 ( 0 ) 89 14 89-47 87 +49 ( 0 ) 89 14 89-95 139 www.mtu.de