MTU Maintenance Hannover World of Finance meets ...€¦ · MTU Maintenance Hannover World of...
Transcript of MTU Maintenance Hannover World of Finance meets ...€¦ · MTU Maintenance Hannover World of...
MTU Maintenance Hannover World of Finance meets business4school
Alexander Engel – May 27th, 2019
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
Boasting comprehensive system expertise, MTU focuses on five core engine competencies -
three core components and on unique manufacturing and maintenance processes
3
1
2
3
High-pressure
compressor (HPC)
Low-pressure
turbine (LPT)
Turbine center
frame (TCF)
4
5
Manufacturing
Maintenance
MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover27.05.2019
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
YE 2018
158,40
Going public
June 1st, 2005
21,0
„The IPO is only the beginning: a new „product“ and new „customer“ are now owners of MTU“
(Goldman Sachs in 2005)
Dez 06 Dez 07 Dez 08 Dez 09 Dez 10 Dez 11 Dez 12 Dez 13 Dez 14 Dez 15 Dez 16 Dez 17Dez 05 Dez 18
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
MTU looks back on many important names from the German industrial history
– from 1934 to date
1934BMW Flugmotorenbau GmbH
is founded
1965MAN takes over
BMW Triebwerkbau
1989MTU becomes an affiliate of Deutsche Aerospace, later renamed DaimlerChrysler
Aerospace (DASA)
TodayShareholder structure
93% Institutional investors
6% Private shareholders
1% MTU-owned shares
1969 MTU
50% Daimler Benz
50% MAN
2005MTU goes public
Focus on military applications
Focus on commercial applications
527.05.2019 MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
Our track record: partners and customers appreciate MTU’s excellence
Revenue € 4.57 billion / EBIT € 0.67 billion
Share of total revenues ca. 33 %
Balanced product portfolio in all thrust
categories
Decades of partnership with OEMs
Share of total revenues ca. 9 %
European and U.S. engine programs
Full system capability
Leading partner of the German Armed
Forces
Share of total revenues ca. 58 %
Services: maintenance, leasing and
asset management
Global network
Direct customer business, partner of
OEMs and airlines
MTU group fiscal year 2018:
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Commercial OEM business Military OEM business Commercial MRO business
MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
27.05.2019 MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover 7
Top 10 commercial engine MRO providers*
~22%
~11%
~8%
~6-7%
~4-5%
~4%
~3%
~2-3%
~2%
~10%
* Estimate based on active commercial jet engines under contract per ACAS as of 06/2015, add-on for minority/equal JVs, IAE workload equally distributed among network partners
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
A balanced portfolio and products in all thrust categories ensure MTU’s long-term success
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PW1000G-family
A320neo, E2-Jet,
A220, MC-21, MRJ
GP7000
A380
GEnx
787, 747-8
Cu
mu
late
d c
ash
flo
w
40
+
-
Calendar years after
market launch
Entry into service
GE9X
777X
V2500
A320, MD-90,
KC-390
PW2000,
PW4000
757, C-17,
777
CF6-80, LM6000
747, 767, IGT,
A300, A310, A330
0
Production
Technology R&D Aftermarket
Production
PW800
G500, G600,
Falcon 6X
PW300, PW500
Latitude, Sovereign, Citation,
Learjet, G200, Bravo,
Falcon 7X
MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
27.05.2019 MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover 9
100 %Affiliate of MTU Aero Engines AG
1979Founded
~ 550 Shop visits 2018
~ 2.300employees
PortfolioMTU Maintenance Hannover is the centerpiece of the MTU Maintenance group. It is responsible for the maintenance of medium- and large-size commercial engines.
These include the GE CF6-50, CF6-80C2 and GE90, Pratt & Whitney PW1100G-JM, PW2000 and PW6000, International Aero Engines V2500, Engine Alliance
GP7000 and CFMI CFM56-7.
MTU Maintenance
Hannover GmbH
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
1 depending on engine model, age and operational environment; 2 depending on engine type and workscope; 3 SBs, mod’s and new repairs
customized workscoping
delivery of servi-ceableengine ‘better than new’3
engine removalstart of service on-wing service
assembly & test parts repair disassembly
& inspection
Operations: 5-7 years1
Repair & overhaul: 50-70 days2
The engine maintenance business model
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
Sales
COGS
S,G&A
EBIT
Gross
Profit EBIT adj.
Net
Income CAPEXFree Cash
Flow
Capital
employed
ROCE
„Rohertrag“
Working
Capital
PoCHGB &
IFRS/IAS
Cash Flow from
operating activities
Cash Flow from
financing activities
Cash Flow from
investing activitiesindirect
operating costs
Net debts
Return on
Sales (ROS)
deferred
taxes R&D
Value
Added
Cash Flow
EBITDA
NPV
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
Outside
Vendor
Material CapexIndirect
operating
costs
shareholder,
financier
statePersonnel
costs
MTU
Maintenance
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
The financial key figures are regarding the earning and financial power of the MTU as well as
the ability to meet our liquidity needs
Earnings Before Interest, Taxes and PPA depreciationEBIT adj.
Company`s operational result that is disclosed in the income statement („GuV“) and is eleminating the
effects of financing and accounting decisions
shows
by management, analysts and investors to evaluate, assess and benchmark the profitability of
a company and to compare companies within and across industries and countries;
- tax regulations
- credit terms
is commonly used
Cash Flow (payments in ./. payments out) that a company generates through running its
„normal“ operational business minus investments in future growth, that is available for:
- pay back claims for loans
- devidends for equity
Free
Cash Flow
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
“Our Financial Playing Field“ – MTU Maintenance Hannover Act. 2018
Sales
X M€ Gross
Profit EBIT adj.
X M€ Free Cash Flow
X M€
Cost of Goods
Sold (COGS)–
material +
outside vendor
personnel cost
(incl. leased staff)
others
(change in WIP,
devaluation etc.)
–
–
–
Selling, General &
Administration
Research &
Development
Others
(w/o PPA Depr.)
+ Depreciation
∆ WOC
∆ accruals
Others
–
–
+
Capex–
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
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ball possession shots at goalpassing quote entering opposing field cross balls goals
What was the final score?
52% 86% 18 78 17 ?
T
E
A
M
A
48% 85% 14 72 8 ?T
E
A
M
B
MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover 16
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
“A typical development of a 10 years engine Fly by Hour contract”
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
$ Accumulated
$ Cost per Shopvisit
TOTAL Sales
TOTAL CostsIncrease OWT
(On Wing Time)
Reduce SV Cost
Shopvisit (SV)
FhA Cash In (cum.)
FhA Cost (cum.)
FhA Revenue (cum.)
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
MTU Finance understands & manages the complexity
of the MTU business model and is the commercial
partner within the MTU group
We provide important steering impulses and take on
responsibility for MTU`s success
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© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
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We focus on attaining
optimal outcomes for
MTU both on an inter-
departmental level and
across all locations
We create a common
understanding of the
commercial inter-
dependencies underlying
our business activities
We align our products to
customer needs
We develop and
evaluate alternative
actions and solutions
We live continuous
improvement and foster
a culture of innovation
Our knowledge is always
state of the art
We develop our human
resource potential through
setting challenges and
enabling growth
MTU Finance is an
attractive employer
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
AH JB DK AC PK AKS PB
FW BH UR PS KM SM LW
UQ SW AJ FK MB AB JEL
SM AK MT TB IS JM AE
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
Wir gestalten und begleiteten den Managementprozess der Zielfindung, Planung & Steuerung und tragen damit
Mitverantwortung in der Zielerreichung von EBIT und Free Cash Flow! Wir sind „Wegweiser“ zur Sicherung des
Gesamterfolges. Zu unseren Basisfunktionen gehören:
• Rechnungslegung der MTU Maintenance Hannover GmbH entsprechend den Auflagen des Gesetzgebers und des
Gesellschafters
• Formulierung der wirtschaftlichen Einzelziele für Jahres-, Mittelfrist- und Langfristplanungen (OP/SP) sowie Erstellung,
Koordination und Konsolidierung der operativen Teilplanungen
• Sicherstellung des Einsatzes einheitlicher Richtlinien, Methoden und Instrumente zur Gestaltung der Betriebswirtschaft
der MTU Maintenance Hannover
• Bereitstellung von Beurteilungskriterien zur Zielfindung, Definition von Steuerungsgrößen und Bereitstellung von
Steuerungsinstrumenten
• Berichterstattung intern sowie an Gesellschafter und Aufsichtsrat
• Unterstützung und Beratung von Operations, Programm & Sales in allen betriebswirtschaftlichen Sachverhalten
• Risk Management und Durchführung von Abweichungsanalysen & Wahrnehmung von Sonderaufgaben
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Was machen wir im Finanzbereich Hannover?
22MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
• 285 Angebots-/Business Case Kalkulationen für 32
Customer
• 33 Contract Business Reviews
• 14.100 betreute Kontierungen & 900 „SK“ Blätter für
unsere Kunden; 71 Airline-Engines, 79 Parts Customer,
9 e-pool, 8 IC, 67 Services, AOG,
Sales Material
• 90 betreute Kostenstellen
• 55 VV-Bewertungen mit 1.300.000€ Einsparung
• 20 Wirtschaftlichkeitsrechnungen für
Investitionsvorhaben
• 43 Make or Buy Bewertungen Parts Repair
• 20 Repair Business Cases (S-Gates)
• 30 Repair Linien Reviews
• 30 Fokusbauteile-Bewertungen im Produktkosten-
Controlling 27.05.2019
MTU Finance Hannover – Zahlen / Daten / Fakten ….. oder: Was liefern wir jährlich ab?
23MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover
• Viel Planung, Forecast, Berichterstattung & mehrmals Risk-
Management Einschätzungen
• Belegbuchungen für Lieferantenrechnungen 90.000,
Kundenrechnungen 9.000 & Reisekosten 5.000
• 136.000 betreute Part Nr. (zzgl. 16 Bewertungsstufen) &
33.000 Hilfs-Materialien in der Materialbuchhaltung
• 23.000 betreute Anlagen und 12.000 Toolings in der
Anlagenbuchhaltung
• Fuhrparkmanagement
• SAP Betreuung (CO & FI)
• Support MRO Standorte kfm. Prozesse & Systeme
.... & ungezählte Analysen,
Bewertungen &
Entscheidungsvorlagen ....
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
Finance in Hannover – More than facts & figures!
MTU Maintenance Hannover World of Finance meets business4school - Leibniz Universität Hannover
Many thanks!MTU Maintenance Hannover GmbH
Muenchner Str. 31
30855 Langenhagen – Germany
May 27th, 2019
Alexander Engel
Kaufmännischer Leiter
Tel. +49 511 7806 2529
Mobile +49 171 5718473
www.mtu.de
© MTU Aero Engines AG. The information contained herein is proprietary to the MTU Aero Engines group companies.
This document contains proprietary information of the MTU Aero Engines AG group companies. The document and its
contents shall not be copied or disclosed to any third party or used for any purpose other than that for which it is provided,
without the prior written agreement of MTU Aero Engines AG.
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Proprietary notice
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