Deutz profits continue to climb

Deutz has followed its strong 2013 financial results with continued improved fortunes in the first quarter of 2014.

The German manufacturer secured new orders totalling €414.2 million in the first three months of 2014, an increase of 6.6% over the first quarter of 2013’s contract wins of €388.5 million. New orders exceeded revenue by almost 21% during the period.

Deutz also saw revenue increase 18.2% to €342.7 million compared with €289.9 million in the first quarter of 2013.

Likewise, EBIT (earnings before interest and taxes) also rose sharply. It amounted to €1.9 million, which was an improvement of €8.3 million on the operating loss of €6.4 million for the same period in 2013.

Deutz CFO Dr Margarete Haase said, “The increase in our financial strength deserves to be highlighted. At the end of the quarter under review, our net financial debt stood at €35.5 million, an improvement of €33.8 million compared with the figure for the first quarter of 2013.”