Corporate governance

Successful 2022 business year

MTU Aero Engines

MTU Aero Engines AG is Germany’s leading engine manufacturer. The Group offers solutions for the entire aircraft engine lifecycle—from development to production to maintenance. Its products and services are often characterized by innovative approaches.


Key company figures for 2022

MTU Aero Engines is Germany’s leading engine manufacturer and an established global player in the industry. We design, develop, manufacture, market and support commercial and military aircraft engines in all thrust and power categories and stationary gas turbines. Operating affiliates all over the world, MTU has a local presence in major regions and markets and is headquartered in Munich, Germany.

In the commercial engine business, we have content in all thrust and power categories, from propulsion systems for business jets and engines for narrowbody aircraft with geared turbofan technology to the world's most powerful engines. The company is a valued and trusted partner to all the big players in the industry: GE Aerospace, Pratt & Whitney and Rolls-Royce.

In the commercial maintenance sector, MTU Maintenance is one of the world’s top three service providers for commercial aircraft engines and industrial gas turbines. We are responsible for, among other things, the maintenance of Pratt & Whitney eco-efficient geared turbofan engines and for providing maintenance solutions to a global network of original equipment manufacturers (OEM). Our strength is based on more than 40 years of experience, a global MRO network and a product range that encompasses engines for all common aircraft types, from business jets to widebody aircraft. The tailored services provided by our MRO experts cover the entire engine lifecycle.

MTU brings its skills and expertise to the fore as the leading industrial company for practically all aircraft engines operated by the German Armed Forces. In addition, the company plays a key role in Europe’s most important military engine programs—from development to production to maintenance.

MTU’s OEM segment covers new commercial engines, including spare parts, and the whole of the military sector. The MRO (maintenance, repair and overhaul) segment comprises all commercial maintenance activities.

MTU Aero Engines worldwide


GRI 102-7: This report covers all of MTU’s fully consolidated sites. The company has a presence in global markets through other subsidiaries and maintains joint ventures with partners in Asia, for example MTU Maintenance Zhuhai with China Southern Air as a joint maintenance shop, and Airfoil Services in Malaysia, a joint venture with Lufthansa Technik for airfoil repair.  (*Revenue by business segment before consolidation)

Successful 2022 business year

Despite the difficulties presented by oil price and inflation rate increases, which arose due to the effects of the war in Ukraine and problems in international supply chains, MTU can look back at a successful financial year in 2022. At EUR 5.3 billion, revenue was up 27% from EUR 4.2 billion in the previous year. Operating profit (EBIT adjusted) increased by 40% to EUR 655 million (2021: EUR 468 million). Earnings after tax (adjusted) developed in line with operating profit and increased by 30% to EUR 476 million in 2022 (2021: EUR 342 million). These figures underscore MTU’s profitable growth course. At EUR 22.3 billion, the order backlog at the end of 2022 was level with the previous year’s figure (2021: EUR 22.2 billion). Most of the orders were for the geared turbofan engines of the PW1000G family, in particular the PW1100G-JM, and the V2500. The recurrence of this high figure illustrates the continued demand for our products and by extension highlights MTU’s future viability.

Key financial data (in EUR m) > GRI 201-1









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We take a long-term approach to our company’s success and our goal is to steadily increase shareholder value. We intend to continue our profitable growth course beyond 2023. For the medium-term outlook, the target formula is 8 – 1 – 25; in other words, EUR 8 billion in revenue and EUR 1 billion in operating profit in 2025.

We add value to society

Our commercial success generates added value for our stakeholders and contributes to society’s prosperity and the economic development of the communities where our business activities are located. We offer interesting and future-proof jobs in a high-tech industry and professional training as part of Germany’s dual-track system. At the end of 2022, the MTU Group employed 11,273 people at fully consolidated sites around the world (2021: 10,508) with 330 young apprentices (2021: 349). We are a major employer in the region at all our major international sites and are exporting the successful German training model: in Serbia, our new repair site, we provide specialist aviation training based on the dual-track system. We pay our employees attractive salaries and offer a broad range of perks. In 2023, we intend to further expand our personnel capacity so that we can drive forward our programs for the future and thus promote MTU’s future viability. As in 2022, we will need new employees primarily in engineering and for digitalization.

As a local investor and patron, we promote education and the academic landscape, for example by maintaining close ties to universities and colleges, especially in the regions where our sites are located. We invest in our sites; in 2022, financial resources went primarily toward building and expanding production capacity in Munich, Hannover and Serbia. We create jobs in upstream supply chains and work with around 6,200 suppliers, mainly in Europe, and have defined mandatory sustainability standards for our cooperation with them and enshrined these in a Code of Conduct.

Responsible tax policy

We act as a responsible global corporate taxpayer and comply with applicable tax laws and regulations, enabling us to make a significant contribution to society at our sites in Germany and elsewhere. A binding Code of Conduct supports systematic compliance with legal and regulatory requirements throughout the Group. We promote ethical and transparent business practices and, in particular, do not use tax avoidance measures, such as the establishment of companies solely for this purpose. We have adopted a Group tax policy that establishes our principles, tax strategy and tax risk management in the company and defines our responsibilities. We report regularly in accordance with applicable regulations and requirements (e.g. IFRS, CbCR), thereby transparently disclosing our tax position.

Value added 2022 (in EUR m)


GRI 201-1: Gross value added = revenue and other income, dividend payment to shareholders in the 2022 financial year for 2021

The value-added statement shows that MTU’s corporate performance amounts to a gross value added of EUR 5.385 billion. After deducting the cost of materials, depreciation, amortization and other expenses, net value added came to EUR 1.382 billion. A large portion of that (69%) went to our employees in the form of wages, salaries and other benefits, while the Group retained 6.7% for future investments. The proportion allocated to pay taxes levied by public authorities accounted for 13.9%. MTU shareholders are to benefit from the company’s good performance by receiving a dividend of EUR 3.20 per share. Our employees have the opportunity to share in MTU’s success through the company’s annual employee share program.


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