DEUTZ AG shareholders vote in favor of capital increase in return for non-cash contribution: DEUTZ set to purchase FFG Flensburger Fahrzeugbau Gesellschaft
Accelerated transformation strategy: highly-profitable defense business to become a key pillar
FFG acquisition already approved by German Federal Cartel Office
Cologne, August 24, 2026 – At today’s extraordinary general meeting, the shareholders of DEUTZ AG gave their backing to a capital increase in return for a non-cash contribution. It will be used to partially finance the acquisition of FFG Flensburger Fahrzeugbau Gesellschaft mbH, a deal agreed in early July 2026 and since approved by the German Federal Cartel Office. With around 99.7 percent of votes cast in favor, the shareholders very clearly expressed their strong support for the acquisition of FFG and the associated strategic transformation of DEUTZ from engine manufacturer into a diversified and resilient industrial company.
DEUTZ CEO Dr. Sebastian Schulte: “The addition of FFG turns DEUTZ into a major player in the defense sector. This is a milestone in our transformation into a diversified industrial company that offers energy, transportation, and defense solutions and boasts a strong service business. The broad backing from shareholders sends a strong signal in favor of continuing our strategy and underscores the future competitiveness of DEUTZ.”
Going forward, FFG will represent the core of DEUTZ’s defense activities, with all business units set to benefit from synergy effects and access to new markets. Headquartered in Flensburg, Germany, FFG is a leading European provider of military ground vehicles and special-purpose vehicles. It is a key partner of the German Federal Armed Forces in the areas of servicing and maintenance, and a supplier to armed forces in more than 15 countries. Employing over 1,100 people at nine sites, FFG produces, maintains, and modernizes wheeled and tracked military vehicles. These include armored recovery vehicles, infantry fighting vehicles, personnel carriers, and special-purpose vehicles. FFG also develops proprietary platforms and is a manufacturing partner for NATO multinational armaments programs. FFG generated revenue of around €760 million in 2025 and has grown by around 50 percent every year since 2023. The value of orders on hand is more than €1.9 billion. This transaction appreciably accelerates the DEUTZ Group’s profitable growth and will contribute substantially to DEUTZ reaching its strategic revenue and margin targets for 2030 of €4 billion and 10 percent, respectively, significantly ahead of plan. FFG alone is expected to generate well over €1 billion in revenue next year, with a margin of more than 20 percent.
Dr. Dietmar Voggenreiter, chairman of the Supervisory Board of DEUTZ AG: “I am delighted that our shareholders have given their backing for this value-adding transaction. Their vote paves the way for the largest acquisition in our Company’s history to date and lays the foundation for further profitable growth. The Board of Management pursued this transaction with the utmost conviction and foresight. The Supervisory Board is fully behind this strategic move and will continue to closely support the Board of Management when it comes to implementing the transaction.”
Once all outstanding approvals have been granted, the transaction is expected to be completed in late 2026 or early 2027. The agreed capital increase in return for a non-cash contribution will follow thereafter, with the families that currently own FFG set to become anchor shareholders of DEUTZ with a stake of up to 29.9 percent.
Detailed information about the extraordinary general meeting and the results of the voting on the two agenda items can be downloaded from the DEUTZ website: https://www.deutz.com/en/investor-relations/annual-general-meeting/2026/.
Upcoming financial dates
November 5, 2026: Quarterly statement for the first to third quarter of 2026