German engine manufacturer Deutz has recorded an increase of 85.8% in its earnings before interest and taxes (EBIT) for the first nine months of 2016.
The company said its EBIT increase to €19.7 million was due, in particular, to a decrease in depreciation and amortization.
The company’s revenues also grew 0.7% to €945.5 million for the first three quarters of the year. Broken down by region, the company’s revenues were up 5% in the Europe, Middle East and Africa (EMEA) region, and by 19.7% in the Asia Pacific region. Revenues were down, however, in the Americas, by 19.1%.
Deutz’s order book was on par with the same period a year ago at €935.3 million, and the company sold 100,439 engines in the first nine months of the year, which was down 6.3% year-on-year.
Margarete Haase, Deutz’s chief financial officer, said, “The published financial results are in line with our expectations.
“If our unit sales increase, we will be able to further improve our EBIT margin because of the steps that we have taken to boost efficiency.”
Meanwhile, Helmut Leube, chairman of the board at Deutz, said, “Deutz is well positioned for the future.
“In recent years, we have laid essential foundations for Deutz's future success by updating the product portfolio, optimising our network of sites and winning new customer projects.”