By Mauro Orru
MTU Aero Engines AG assumes the euro will average 1.10 against the dollar this year, a forecast that led the company to cut revenue guidance for 2023.
The German aircraft-engine manufacturer's new forecast is higher than a 1.05 estimate on which it had based previous revenue guidance.
The company is now targeting revenue between EUR6.1 billion and EUR6.3 billion this year, below previous guidance of EUR6.4 billion and EUR6.6 billion.
"The revised guidance is mainly due to a change in our assumption on the U.S. dollar exchange rate," Chief Executive Lars Wagner said.
The euro currently trades at $1.0758.
Write to Mauro Orru at email@example.com; @MauroOrru94
(END) Dow Jones Newswires
February 14, 2023 05:03 ET (10:03 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.