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DGAP-News DEUTZ AG: High hopes for 2021 following a successful start to the year for DEUTZ

Nachrichtenquelle: EQS Group AG
06.05.2021, 07:30  |  107   |   |   

DGAP-News: DEUTZ AG / Key word(s): Quarterly / Interim Statement
DEUTZ AG: High hopes for 2021 following a successful start to the year for DEUTZ

06.05.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


  • Significant new order growth; orders on hand up by around 48 percent year on year
  • Strong improvement in profitability and free cash flow
  • Further progress with implementing Transform for Growth; voluntary redundancy program taken up in full
  • Rigorous implementation of strategic growth initiatives
  • Full-year guidance for 2021 raised despite difficult supply situation

Having finished a year dominated by coronavirus with a much improved fourth quarter in 2020, the uptrend for DEUTZ continued into the first quarter of 2021. This could be seen from the recently published preliminary results, which the Company has confirmed today.

"The successful start to the year shows that DEUTZ is back on course for growth. Our new orders were up by around a third year on year in the first quarter of 2021, while orders on hand rose by almost a half. And although we will be dealing with the coronavirus pandemic for quite some time to come, we anticipate a sustained increase in customers' propensity to proceed with capital expenditure in all of the main application segments," said DEUTZ CEO Dr. Frank Hiller.

As well as a healthy operating performance, further strategic milestones were reached. In China, the world's largest engine market, the joint venture with SANY continues to operate profitably. Its unit sales amounted to around 8,000 engines in the first quarter of this year and the aim is to increase this to between 35,000 and 40,000 engines in 2021. At the Tianjin site, DEUTZ and BEINEI have begun to manufacture the 2.9 engine series as planned. Establishment of the purchasing organization in China is also proceeding according to schedule. The intention behind this is to achieve the highest possible localization rate and thus significantly lower costs for materials and logistics.

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DGAP-News DEUTZ AG: High hopes for 2021 following a successful start to the year for DEUTZ DGAP-News: DEUTZ AG / Key word(s): Quarterly / Interim Statement DEUTZ AG: High hopes for 2021 following a successful start to the year for DEUTZ 06.05.2021 / 07:30 The issuer is solely responsible for the content of this announcement. …

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