Engine manufacturer Deutz reports a strong first quarter.
Engine manufacturer 201 Deutz reports a strong first quarter. This is the firm's most successful first quarter since 2002. The company said that first-quarter net income hit €13.7 million, the first time it has made a profit in the first quarter since 2008. This performance is a marked improvement from last year. In the first quarter of 2010, Deutz reported an operating profit of just €700,000 million. New orders in the first quarter of 2011 amounted to €408.5 million, a rise of around 30% on orders received in the same period last year. Engine sales also rose sharply, with the 48,416 units sold in the first quarter outstripping the same period in 2010 by 43.3%. Revenue also rose in line with unit sales. At around €336 million it was 42.1% higher than the previous year. "DEUTZ has made an outstanding start to the year. We reported a record level of first quarter operating profit, and for the first time since 2008 we even generated net income after tax and interest for the first three months of the year. This impressive performance, which is clearly reflected in steadily rising figures for new orders, unit sales and revenue, is in line with our optimistic forecast for 2011", said Dr Margarete Haase, from the Deutz Board of Management.
Engine manufacturer Deutz reports a strong first quarter. This is the firm's most successful first quarter since 2002. The company said that first-quarter net income hit €13.7 million, the first time it has made a profit in the first quarter since 2008. This performance is a marked improvement from last year. In the first quarter of 2010, Deutz reported an operating profit of just €700,000 million. New orders in the first quarter of 2011 amounted to €408.5 million, a rise of around 30% on orders received in the same period last year. Engine sales also rose sharply, with the 48,416 units sold in the first quarter outstripping the same period in 2010 by 43.3%. Revenue also rose in line with unit sales. At around €336 million it was 42.1% higher than the previous year. "DEUTZ has made an outstanding start to the year. We reported a record level of first quarter operating profit, and for the first time since 2008 we even generated net income after tax and interest for the first three months of the year. This impressive performance, which is clearly reflected in steadily rising figures for new orders, unit sales and revenue, is in line with our optimistic forecast for 2011", said Dr Margarete Haase, from the Deutz Board of Management.
Engine manufacturer Deutz reports a strong first quarter. This is the firm's most successful first quarter since 2002. The company said that first-quarter net income hit €13.7 million, the first time it has made a profit in the first quarter since 2008. This performance is a marked improvement from last year. In the first quarter of 2010, Deutz reported an operating profit of just €700,000 million. New orders in the first quarter of 2011 amounted to €408.5 million, a rise of around 30% on orders received in the same period last year. Engine sales also rose sharply, with the 48,416 units sold in the first quarter outstripping the same period in 2010 by 43.3%. Revenue also rose in line with unit sales. At around €336 million it was 42.1% higher than the previous year. "DEUTZ has made an outstanding start to the year. We reported a record level of first quarter operating profit, and for the first time since 2008 we even generated net income after tax and interest for the first three months of the year. This impressive performance, which is clearly reflected in steadily rising figures for new orders, unit sales and revenue, is in line with our optimistic forecast for 2011", said Dr Margarete Haase, from the Deutz Board of Management.
