DEUTZ sees “encouraging” rise in net income for Q3

German engine manufacturer DEUTZ said it had a “very encouraging increase” in operating profit for the first three quarters of 2016. EBIT – earnings before interest and tax – stood at €19.7 million, significantly higher than the figure for the prior-year period of €10.6 million. DEUTZ said that this was due, in particular, to a decrease in depreciation and amortisation. Consequently, the EBIT margin almost doubled to reach 2.1%. Net income for the first nine months of 2016 was €18.8 million, compa
November 14, 2016 Read time: 2 mins
German engine manufacturer 201 DEUTZ said it had a “very encouraging increase” in operating profit for the first three quarters of 2016.

EBIT – earnings before interest and tax – stood at €19.7 million, significantly higher than the figure for the prior-year period of €10.6 million. DEUTZ said that this was due, in particular, to a decrease in depreciation and amortisation.

Consequently, the EBIT margin almost doubled to reach 2.1%.

Net income for the first nine months of 2016 was €18.8 million, compared with €7.3 million for the same period last year.

At €935.3 million, new orders were on a level with the first nine months of last year (Q1–Q3 2015: €932.9 million). In the third quarter, DEUTZ received orders amounting to €258.1 million, which was down by 1.6 per cent on the prior-year figure of €262.2 million.

The number of engines sold fell to 100,439, a decrease of 6.3% compared with the first nine months of 2015 (Q1–Q3 2015: 107,236 engines).

Third-quarter unit sales totalled 30,733 engines, which was 5.6% more than in the prior-year period (Q3 2015: 29,116 engines).

Revenue rose by 0.7% to €945.5 million in the nine-month period (Q1–Q3 2015: €938.8 million).

Broken down by region, revenue was up by 5% in the EMEA (Europe, Middle East and Africa) region and by nearly 20% in the Asia-Pacific region. But it was down by just over 19% in the Americas.

Revenue generated in the third quarter of 2016 amounted to €301.1 million, a year-on-year rise of 12.1% (Q3 2015: €268.6 million).
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