Outlook

MTU is excellently positioned to overcome current challenges and tap further market growth. By participating in pioneering engine programs, we can generate even more success in the years ahead. These efforts are aided not only by the development of new propulsion systems and services in the commercial and military OEM and spare parts business but also by the high demand for maintenance services. We benefit here from sustained growth in flight operations—both in passenger and freight transport. This expansion will continue in the decades ahead.

The Pratt & Whitney GTF™ engine family are the propulsion systems of the future. High demand for these engines makes them our most important revenue driver. Even if our expanded Geared Turbofan fleet management plan dampens our revenues and earnings for the 2023 financial year, we remain committed to achieving our targets for 2025 of eight billion euros in revenue and adjusted earnings of one billion euros. We are intensifying our focus on costs, working capital, and investments, and are working hard to minimize the Geared Turbofan fleet management plan’s impact on our customers.

_{In addition to information relating to past events, this report also contains forward-looking statements. Such passages can generally be identified through the use of such terms as ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘anticipate’, ‘predict’, ‘will’, ‘believe’, ‘is likely to’, ‘might’ and similar phrases, or through the fact that they are presented in the context of a strategy. Forward-looking statements relate to future expectations, developments, trends, and business strategies, and are based on analyses or predictions of MTU’s future business performance and estimates of figures that cannot be affirmed with any certainty at the present time. These forward-looking statements merely reflect MTU’s current outlook at the time the statements were made, and MTU does not accept any responsibility for updating forward-looking statements except in cases where it is a statutory requirement. The forward-looking statements contained in this chapter involve known and unknown risks, uncertainties, and other factors that may result in an actual future outcome based on real events, developments and performances that deviates significantly from the content of the statements presented here. These factors include changes in the general economic climate and business environment, exchange rate fluctuations, in addition to the factors enumerated in the "risk report" section of the MTU Annual Report 2020.}