- DEUTZ publishes preliminary results for the first quarter of 2018
- Exceptionally high volume of new orders
- Clear growth in revenue and operating profit
DEUTZ AG has today published the Group’s preliminary financial results for the first quarter of 2018. The volume of new orders rose by 42.6 per cent year on year to €574.9 million. The figure for the corresponding period in 2017 was €403.2 million, while in the fourth quarter of 2017 it was €382.7 million. The significant rise in new orders was partly due to very favourable business conditions and partly due to changed customer procurement behaviour. In the light of the strong demand and the introduction of emissions standard EU Stage V in the coming year, customers placed their orders early in order to be sure of securing delivery.
The unit sales figure for the first quarter of 2018 was 48,458 engines, including 2,133 electric motors sold under the Torqeedo brand. This was 30.4 per cent higher than in the first quarter of the previous year (37,153 engines) and 11.7 per cent up on the previous quarter (43,367 engines). Revenue came to €414.5 million, a 17.6 per cent increase on the first three months of last year (Q1 2017: €352.5 million) and 7.4 per cent more than in the previous quarter (Q4 2017: €385.9 million).
Operating profit (EBIT before exceptional items) increased year on year by €14.1 million to €21.7 million in the first quarter of 2018. Compared with the fourth quarter of 2017, EBIT before exceptional items went up by €7.1 million. The EBIT margin (before exceptional items) improved from 2.2 per cent in the first three months of 2017 to 5.2 per cent in the reporting period. “The new financial year has got off to a very encouraging start, particularly in terms of market demand and improved profitability,” commented Dr Frank Hiller, Chairman of the DEUTZ Board of Management, adding, “We are taking this tailwind with us into the second quarter. Although we expect to see the usual seasonal decline in the summer quarter, we anticipate that this will be less pronounced than in previous years.”
For 2018 as a whole, DEUTZ confirms its forecast of a marked increase in revenue and a moderate rise in the EBIT margin (before exceptional items).
The full interim management statement for the first quarter of 2018 containing the final results will be published as scheduled on 2 May 2018.
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