MTU announced strong H1 23 figures, which were in line with the company collected consensus and our expectations. The main revenue driver was the GTF engine for the A320neo and this was supported by the growth in the spare parts business which expanded across all the businesses. The OEM EBIT margin was supported by a favourable business mix, FX tailwind, and under-proportional costs but the MRO EBIT margin shrank due to higher share of GTF. Given the strong performance, the company has confirmed ....
