Cologne-based engine manufacturer DEUTZ achieved further substantial growth in the first half of 2011. The strong business performance that had emerged in the first quarter continued throughout the second quarter. DEUTZ can therefore look back on a successful first six months.
The upward trend is underpinned by impressive figures for the first half of 2011. The volume of new orders was €797.1 million, up 20.9 per cent on the corresponding period last year (H1 2010: €659.5 million). Unit sales of engines also rose sharply to 107,198 engines, which was around 42 per cent higher than in the first half of 2010. Accordingly, there was also substantial growth in revenue in the first six months of 2011, which climbed by about 36 per cent to €724.1 million year on year (H1 2010: €534.5 million). DEUTZ's operating profit (EBIT before one-off items) for the first half of 2011 amounted to €44.3 million – three times as high as for the corresponding period last year (H1 2010: €13.3 million). The EBIT margin (before one-off items) therefore increased from 2.5 per cent in the first half of 2010 to 6.1 per cent in the same period this year. Whereas the 2010 figure had been influenced by one-off items, no one-off items have been recognised in 2011. DEUTZ reported particularly encouraging net income of €33.9 million, having made a net loss of €9.4 million in the first six months of 2010.
The growth trend continued in the second quarter of 2011. Between April and June 2011, DEUTZ won new orders amounting to €388.6 million, compared to €347.5 million in the second quarter of 2010. Unit sales rose substantially in the second quarter of 2011. The Company sold a total of 58,782 engines, a considerable increase of around 40 per cent (Q2 2010: 41,781 engines). Revenue also improved significantly, climbing by 30 per cent to €388.1 million year on year (Q2 2010: €298.1 million). The sharp rise in operating profit (EBIT before one-off items) deserves special mention: in contrast to the Q2 2010 operating profit of just €12.6 million, DEUTZ reported operating profit of €26.1 million for the second quarter of 2011. Net income for the second quarter of 2011 totalled €20.2 million.
"We can look back on the first six months of 2011 with satisfaction. Demand for our engines remains strong, our capacity utilisation in production is high and our profitability has improved significantly as a result of measures taken to cut costs and boost efficiency. We believe that there are still good prospects for profitable growth and we are very confident that we will exceed our targets in 2011", said Dr Helmut Leube, Chairman of the Board of Management of DEUTZ AG.
For detailed information about the first half year of 2011, see the enclosed summary of key performance indicators.
For further information on this DEUTZ press release, please contact:
Investor Relations
Christian Krupp
Tel.: +49 (0)221 822-5400
Fax: +49 (0)221 822-15-5400
E-Mail: krupp.c@deutz.com
Public Relations
Georg Diderich
Tel.: +49 (0)221 822-2200
Fax: +49 (0)221 822-15-2200
E-Mail: diderich.g@deutz.com
