DJ MTU Aero's 2Q Results Beat Consensus, Especially Cash Flow -- Market Talk
1337 GMT - MTU Aero's second-quarter results beat market expectations with particularly strong free cash flow, Citi says. FCF came in at EUR81 million, compared with a consensus of EUR46 million, while its second-quarter EBITA was 4% above expectations and revenue was in line, the bank says. The German aircraft engine maker now expects 2021 cash conversion rate --the ratio of free cash flow to adjusted net income-- to be in the mid to high double-digit percentage range which is "clearly positive", it says. (olivia.bugault@wsj.com)
(END) Dow Jones Newswires
July 30, 2021 09:37 ET (13:37 GMT)
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