MTU Aero Engines hikes 2025 outlook on stronger US dollar after sales beat
(Reuters) -German engine manufacturer MTU Aero Engines on Wednesday raised its guidance for 2025 based on a lower assumed exchange rate of the euro versus the U.S. dollar, as it topped market expectations for 2024 revenue.
Stronger U.S. dollar benefits the Airbus and Boeing supplier as it books most of its orders in dollars.
MTU, which also makes the engine for the Eurofighter Typhoon, forecast revenue of between 8.7 billion and 8.9 billion euros ($9.10 billion and $9.31 billion) for 2025, up from a previous range of 8.3 billion to 8.5 billion euros.
It also expects its adjusted operating profit to grow in a mid-teens percentage range, compared with the earlier range of low to mid-teens.
The company said the outlook was now based on an exchange rate of 1.05 euros to 1 dollar, instead of the previously assumed rate of 1.10.
MTU reported an 18% rise in its annual adjusted revenue to 7.5 billion euros in 2024, beating analysts' average forecast of 7.4 billion euros in a company-provided consensus.
It said all business areas should contribute to further revenue growth in 2025.
($1 = 0.9564 euros)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 hours ago
- Yahoo
Pernod Ricard plans reorganization into two main brand divisions
-- Pernod Ricard (EPA:PERP) is planning to reorganize its business by grouping its brands into two main divisions, according to an internal presentation quoted by Reuters on Wednesday. The French spirits maker reportedly confirmed it had announced an "internal project to create a more agile and simplified organisation" when contacted about the matter. The company's streamlining effort appears aimed at creating a more efficient operational structure as it navigates the current challenging market environment Related articles Pernod Ricard plans reorganization into two main brand divisions Microsoft plans to cut thousands of jobs in sales division - Bloomberg BofA starts Sandisk at Buy on margin upside, NAND recovery prospects Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Eater
5 hours ago
- Eater
One of Chicago's Most Anticipated Restaurants Swaps Names
One of Chicago's most anticipated restaurant openings of the year is getting a name change. The restaurant formerly known as Brick and Mortar is now known as Ox Bar & Hearth. For longtime Chicagoans, the name will make sense. The space — across the street from the North & Clybourn CTA Red Line Stop — most recently housed Burger Bar Chicago. However, from 1921 to 2014, the Golden Ox called 1578 N. Clybourn home. The Golden Ox was one of Chicago's most beloved German restaurants. A rep for Ox Bar & Hearth tells Eater ownership wants to create a communal environment, remembering the past while building toward a new vision. A rep adds that the name is inspired by London's traditions, where the names of pubs and restaurants often include animals and paired with 'symbols of comfort, craft, or place.' John Asbaty and Alain Uy, both alums of suburban Evanston's Trio, plan to open the restaurant later this summer. Look for live fire cooking with Midwestern roots. The duo wants to focus on simple cooking, but says that simple doesn't have to mean boring. While a rep didn't have an update on an opening date, the restaurant is hiring. Look for details soon. Ox Bar & Hearth , 1578 N. Clybourn, planned for a summer opening See More:
CNET
7 hours ago
- CNET
Here's What to Know if a TikTok Sale Never Goes Through
Maybe third time's the charm? President Donald Trump said he'll "probably" extend Tiktok's sale deadline a third time. He signed an executive order in April, giving the app 75 days to sell itself to an approved buyer after he signed a similar order in January. TikTok went dark for a short period in the US in January before that deadline extension was announced. The sale of TikTok would allow the app to continue operating in the US. Former President Joe Biden signed a law in 2024 that effectively banned the app in the US if TikTok's China-based parent company, ByteDance, didn't sell the app to an approved buyer by January. Several bidders have voiced interest in purchasing the app. According to a Reuters report from March, Trump said a deal would be struck before the April deadline, but that deal never materialized. Trump also said at the time he'd consider reducing tariffs on Chinese goods if that country's leaders agreed to a sale of the app. If the app isn't sold, here's what US TikTokkers should expect. Will I be able to download TikTok to my phone? Under the law, app stores run by companies such as Apple and Google must remove an app from their stores or face civil penalties. That means you won't be able to download the app to your device, and ByteDance won't be able to issue updates to the app. Will I still be able to access TikTok if I already have it? If you already have the app downloaded to your device, yes. The law doesn't make it illegal to have the app on your phone. Since app stores won't be able to distribute updates to the app after the law goes into effect, your experience with the app may degrade over time and even become insecure. It's unclear how long the app will work on your device without regular updates. Viva Tung/CNET However, before Trump extended the sale deadline in January, TikTok took itself offline in the US for about 14 hours so that no one in the US could access it. So if a sale isn't reached and Trump doesn't extend the sale's deadline, it's possible the app will fully shut itself down. Can I access TikTok from a web browser? No. The law applies to app stores and internet providers alike. How do I keep posts and videos I like? TikTok lets you download your posts as well as posts from your favorite creators. Here's how to download posts from your favorite creators. 1. Open TikTok. 2. Tap the Share button on a post (the arrow on the right side of your screen). 3. Tap Save Video. Here's how to save your own posts. 1. Open TikTok. 2. Go to your profile. 3. Tap a post. 4. Tap the three dots (...) on the right side of your screen. 5. Tap Save Video. The app will save those posts to your photo library. Getty Images/Viva Tung/CNET Can I use a VPN to access TikTok? Yes. You could use a VPN on your phone or browser to access TikTok. "A virtual private network is a privacy tool that hides your IP address by sending your internet traffic through a remote server," CNET's Moe Long writes. "If I'm in New York, but tunneling through a London server with ExpressVPN, Disney Plus thinks I'm across the pond." A VPN could make it look to TikTok like you're accessing it from the UK, or another country where it's not banned, when you're really in the US. You could also potentially use a proxy server to access TikTok. A proxy server, like a VPN, masks your IP address by sending your traffic through another server first. The main difference between the two is that a proxy server doesn't offer as comprehensive privacy protections as a VPN does. What comes next for TikTok? Trump said he plans on continuing to work with China on a TikTok sale. "We probably have to get China approval. I think we'll get it," Trump said, speaking to the press aboard Air Force One on Tuesday. "I think President Xi will ultimately approve it." He credited the tariffs he enacted on April 3, calling them "the most powerful economic tool" and "very important" to national security. For more on the case, here's what to know about the Supreme Court's TikTok decision.
