German aircraft propulsion manufacturer MTU Aero Engines generated record levels of revenue in its 2018 financial year, according to a financial statement released on 20 February.
The company, which is responsible for the EJ200 engine used on the Eurofighter Typhoon, reported that it had recorded sales of EUR4,567 million (USD5,178 million), a rise of 17.2% year on year. MTU's operating profit rose by a similar margin, also hitting a new high of EUR671 million, while its order backlog reached EUR17.6 billion
The company's CEO Reiner Winkler welcomed the results, saying, "We successfully strengthened our already good market position in both of our operating segments - OEM and MRO - in 2018, thus establishing a basis for future growth.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes