Mustafa Hidir of Ehrke & Lübberstedt presented his in-depth investment thesis on MTU Aero Engines (Germany: MTX) at European Investing Summit 2017.
MTU Aero Engines develops and manufactures components for civil and military aircraft. The business model of MTU is structured in such a way that no or negative margins are accepted when selling an engine. In return, MTU achieves an EBIT margin of 8-10% through contractual exclusivity in the service of the turbines and significantly high double-digit margins through the sale of spare parts. With the turbines V2500 (mainly Airbus A320) and GTF (mainly Airbus A320neo), MTU has two blockbuster products in the portfolio, which in the coming years will gradually become maintenance-prone and thus should increase the profitability of the group sustainably.
About the instructor:
Mustafa Hidir works as an Investment Manager at Ehrke & Lübberstedt, co-advisor of Acatis Aktien Deutschland ELM (LU0158903558). The Fund is focused on publicly listed small- and mid-caps in Germany. Prior to Ehrke & Lübberstedt, Mustafa worked as an Investment Professional in Private Equity. He hold a degree in Commercial Law and a degree in Finance & Accounting.
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