Unit sales for the nine-month period totalled 156,504 engines, including 8,977 electric motors sold under DEUTZ’s Torqeedo brand. This equates to an increase of 32.3% compared with unit sales in the prior-year period (Q1–Q3 2017: 118,279 engines). DEUTZ revenue rose from €1.093.2 billion to €1.297.3 billion, a rise of 18.7%. Operating profit amounted to €45.9 million in the first three quarters of the year (Q1–Q3 2017 €26.7 million).
“The strike at a supplier put a great deal of strain on management and staff at our company,” said chairman of the DEUTZ Board of Management, Dr Ing Frank Hiller. “This makes our substantial revenue growth, to which all regions and segments contributed, and our significant increase in operating profit all the more pleasing. We took further important steps that are aimed at securing growth in the future. We have also succeeded in further expanding our licensing business in China and are making good progress with the implementation of our EDEUTZ strategy.”
In the Chinese market, DEUTZ plans to generally reorganise its presence so that it can generate stronger growth and be even more successful there. As previously announced, DEUTZ signed contracts for the sale of the former DEUTZ Dalian joint venture to its former partner FAW in October 2018. The company is also currently in talks about entering into new alliances with major local partners in the construction equipment and agricultural machinery industries.
The E-DEUTZ strategy, introduced in 2017, is said by DEUTZ to be continuing to gather momentum. An interdisciplinary team of Torqeedo and DEUTZ design engineers succeeded in integrating the company’s drive concept into two prototype machines in just six months. DEUTZ says this shows that the firm has mastered the technology and is in a position to supply marketable electrification solutions.
For 2018 as a whole, DEUTZ, assuming no further supply shortage, expects revenue to rise sharply to more than €1.6 billion. The EBIT margin (before exceptional items) is forecast to improve to at least 4.5%.
