Revenues and profits up at Deutz
By Chris Sleight07 August 2014
Engine manufacturer Deutz revenues for the first half of the year were up +13.8% to € 753 million (US$ 1.02 billion). It sold 99,079 engines in the first six months of 2014, a +15.3% increase on the first-half 2013 figure of 85,097.
The company’s underlying earnings before interest and tax (EBIT) almost doubled compared to a year ago to € 20.1 million (US$ 27.1 million). However, one-off items relating to cost-saving measures and plant closures reduced this to € 6.2 million (US$ 8.4 million).
“We are particularly pleased that we were able to pay our shareholders a dividend totalling just short of € 8.5 million (US$ 11.5 million) in May 2014,” said Deutz CFO Dr Margarete Haase. “We anticipate further improvements in earnings over the coming years as a result of the optimisation process that we have initiated for our network of sites.”
However, despite higher revenues and profits, the company said its order intake in the first half of the year was down to € 745 million (US$ 1.01 billion), compared to € 844 million (US$ 1.14 billion) a year ago. However, it said that the first half of 2013 set a new record for Deutz’ order intake.