DEUTZ AG has today published the Group's preliminary financial results for the first quarter of 2017. New orders totalled €403.2 million, a 23.2 per cent increase on the first three months of last year (Q1 2016: €327.3 million) and 23.6 per cent more than in the previous quarter (Q4 2016: €326.1 million). At 37,153 engines, unit sales were up by 15.7 per cent on both the prior-year period (Q1 2016: 32,112 engines) and the previous quarter (Q4 2016: 32,100 engines). Revenue came to €352.5 million, a year-on-year rise of 17.4 per cent (Q1 2016: €300.2 million) and 12.0 per cent higher than in the fourth quarter of last year (Q4 2016: €314.7 million).
At €7.6 million, operating profit (EBIT before exceptional items) was on a par with the first quarter of last year. However, the figure for the prior-year period had been boosted by a contribution of €5.5 million from a licensing transaction in the DEUTZ Customised Solutions segment. Compared with the fourth quarter of 2016, EBIT before exceptional items went up by €3.9 million. The EBIT margin (before exceptional items) was 2.2 per cent in the quarter under review. In the first quarter of 2017, the disposal of a building lease generated a positive exceptional item of €10.0 million. As a result, there was a marked increase in EBIT after exceptional items, which climbed to €17.6 million. Free cash flow also improved by a substantial €68.6 million to reach €39.7 million.
For 2017 as a whole, DEUTZ is reiterating its forecast of a marked rise in revenue and a moderate increase in the EBIT margin before exceptional items.
The full interim management statement for the first quarter of 2017 containing the final results will be published on 9 May 2017.
Press release 27. April 2017
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