Deutz posts fall in revenues for Q1

German engine manufacturer Deutz has recorded revenues of €300.2 million for the first quarter of 2016 – a 2.7% decrease from the previous quarter, and a 5.6% fall year-on-year.

However, the company saw an upturn in its earnings before interest and taxes (EBIT) reaching €7.3 million for the first quarter of 2016, which is an improvement of €13 million on the previous quarter.

Its profits were aided by a €5.5 million contribution from a licencing transaction in the Deutz Customised solutions segment.

New orders totalled €327.3 million, which represents a 2% increase year-on-year, and an 11.7% increase on the previous quarter.

Deutz said that it expects its revenues to stagnate or, at best, rise slightly for 2016, and its EBIT will increase moderately compared with 2015. It added that the company expects to face difficult market conditions this year.