DEUTZ again achieves substantial growth in third quarter
Having reported a successful second quarter of 2011, Cologne-based engine manufacturer DEUTZ sustained its growth trend in the third quarter.
The company took new orders amounting to €372.7 million between July and September 2011, a
rise of around 14 per cent compared with the third quarter of 2010. Unit sales again rose substantially in the third quarter, climbing by approximately 51 per cent year on year to 61,310 engines. Revenue went up to €399.4 million in the third quarter of 2011, which was almost 40 per cent higher than the figure posted by DEUTZ in the corresponding period last year (Q3 2010: €285.9 million). The company also succeeded in doubling its operating profit (EBIT before one-off items) to €25.1 million in the third quarter of 2011, compared with €12.1 million in the same quarter of 2010.
DEUTZ's EBIT margin rose significantly too, from 4.2 per cent in the third quarter of 2010 to 6.3
per cent in the corresponding period this year. The third quarter of 2011 also saw net income improve to €20.7 million, compared with a net loss of €13.1 million in 2010.
"The business performance of DEUTZ is very satisfactory, and demand for our engines has remained high to date. We are firmly focused on the challenges ahead, we are looking to the future
with optimism and we remain confident that we will meet our targets this year", said Dr Helmut Leube, Chairman of the Board of Management of DEUTZ AG.
The company's successful business performance is underpinned by the results for the first to third
quarters of 2011. New orders climbed significantly to €1,169.8 million, a year-on-year increase of about 19 per cent (Q1-Q3 2010: €986.8 million). Unit sales also rose sharply to 168,508 engines, which was 45 per cent higher than in the corresponding period of 2010. Accordingly, revenue in the first three quarters of 2011 went up considerably, by around 37 per cent, to €1,123.5 million (Q1-Q3 2010: €820.4 million). DEUTZ's strong business performance was particularly reflected in the operating profit (EBIT before one-off items), which almost tripled year on year to €69.4 million (Q1-Q3 2010: €25.4 million). The EBIT margin (before one-off items) doubled from 3.1 per cent in the first nine months of 2010 to 6.2 per cent in the same period this year. Whereas the 2010 figure had been influenced by one-off items, no one-off items have been recognised in 2011.There was also an impressive increase in net income. Having posted a loss of €22.5 million in the first three quarters of 2010, DEUTZ achieved an impressive profit of €54.6 million in the same period this year.
For detailed information about the first to third quarters of 2011, see the enclosed summary of key performance indicators
For further information on this DEUTZ press release, please contact:
- Unit sales climb by more than a half
- Revenue in the year to date up by more than a third
- Net income for the first nine months reaches €54.6 million
Tel.: +49 (0)221 822-5400
Fax: +49 (0)221 822-15-5400
Tel.: +49 (0)221 822-2200
Fax: +49 (0)221 822-15-2200