Mercedes 2001 Annual Report Download - page 44

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40 Other Activities
Other Activities
Global partnerships. Together with its partners, the
MTU Aero Engines business unit develops and pro-
duces engines for civil and military applications. It also
performs servicing and maintenance on engines at 11
locations worldwide. MTU Aero Engines is the world's
largest independent provider of maintenance services
for civil aviation engines. The company's customers
include users and manufacturers of aircraft engines
and industrial gas turbines around the world.
Further growth in revenues and earnings. MTU Aero
Engines continued to increase revenues and earnings
despite the negative effects of the terrorist attacks of
September 11. In 2001, the business unit's revenues
grew by 18% to reach €2.5 billion. This was primarily
due to an increased demand for civil-aircraft engines
and significantly higher revenues by the maintenance
plants, but also to the stronger US $. Civil applications
particularly benefited from the growth of the CF-6
programs and higher sales of V2500 engines, as well
as from strong demand for LM6000 industrial gas
turbines. On the military side, MTU Aero Engines
delivered the first series production engines for the
Eurofighter (EJ200) during the year under review.
Incoming orders at MTU Aero Engines also devel-
oped positively again in 2001, reaching a total of €2.2
billion. As expected, they did not match the previous
year's extraordinarily high level (2000: €2.4 billion)
which was influenced, among other things, by the first
series production orders for the Tiger military helicop-
ter. The business unit registered strong demand for
CF-6 and V2500 replacement parts in 2001, and also
gained new customers for its civil maintenance
services for V2500 engines in the US and Middle
East markets.
As a result of these positive developments, earn-
ings at MTU Aero Engines GmbH again surpassed the
figure for the previous year.
The Other Activities segment comprises the MTU
Aero Engines business unit, our equity interests in
EADS, TEMIC, Mitsubishi Motors Corporation, and until
April 2001 included the Rail Systems business unit,
which was sold last year. It also includes our Corporate
Research department, our real estate activities, and
the holding and finance companies.
In 2001, the Other Activities segment achieved an
operating profit of €1.2 billion (2000: €3.6 billion). This
included one-time income totaling €1.0 billion resulting
from the sale of Adtranz (€0.3 billion) and 60% of the
stock in TEMIC (€0.2 billion), our proportionate share
(€0.9 billion) of the gain arising from EADS in connec-
tion with the formation of Airbus SAS, and our share of
the restructuring charge at Mitsubishi Motors (€0.4 bil-
lion). In the year 2000, there was one-time income of
€3.5 billion, primarily due to the exchange of a control-
ling interest in DaimlerChrysler Aerospace for shares
in EADS.
Excluding one-time effects, operating profit
amounted to €205 million (2000: €67 million).
MTU Aero Engines
Operating Profit
Operating Profit Adjusted
3,590
67
1,181
205
1,051
182
2001
US $
2001
€
2000
€
Revenues
Incoming Orders
Employees (Dec. 31)
2,105
2,409
7,162
2,487
2,183
7,839
2,214
1,943
2001
US $
2001
€
2000
€
Amounts in millions Amounts in millions