The sale of one of its former sites has contributed to positive financial results for Deutz for the first half of the year, with new orders also up on 2016 numbers.
For the first half of 2017, the group’s consolidated financial figures reveal that earnings before tax, depreciation and amortization (EBIT) were up by 2.1m (US$2.4m), to 22.8m (US$27m), compared with results for the January to June period last year.
New orders, unit sales and revenue all saw increases compared to 2016 figures. New orders rose to 803m (US$953m); 79,599 engines were sold; and revenue rose by 14% to 734.5m (US$872.3m).
“Since the beginning of 2017, we have seen a positive market trend that is still ongoing. The property sale of the former Cologne-Deutz site was a milestone in the second quarter of 2017,” said Deutz’s chief financial officer, Dr Margarete Haase.
Depending on completion of the ongoing planning process, the company anticipates a further, final instalment of the purchase consideration in the coming years for the Cologne-Deutz site sale. The exact amount is not yet known and, providing the planning application is successful, is expected to be in the mid double-digit million euros.
Chairman of the Deutz board of management, Dr Frank Hillerm said, “Going forward, we will be positioning ourselves much more strongly as a supplier of innovative drive systems, and focusing on alternative fuels.
“The new E-Deutz strategy, for example, includes hybrid solutions, partial electrification and electric drive components. And the proceeds from the sale of property are allowing us to invest even more heavily in technology, innovation and service.”
August 4, 2017
