Strong first-quarter for Deutz
Engine manufacturer announces strong start to 2011 with first quarter net income of €13.7 million
DEUTZ have reported a 42% rise in consolidated net sales, to €336 million (€236.4 million), in the first quarter of 2011, compared with the same period in 2010. The company also announced a first-quarter net income of €13.7 million – the first time it has made a profit in the first quarter since 2008, and also its best first-quarter operating profit since 2002.
During the first three months of 2011, operating profit was €18.2 million (EBIT), sending a strong signal that Deutz are on an upwards trajectory this year. New orders also increased 30%, to €405 million (Q1 2010: €312 million), and engine sales rose 43%, to 48,416 units (Q1 2010: 33,784 units).
Commenting on the first-quarter results, Dr Margarete Haase, Deutz board of management member for finance, human resources and investor resources, said: ‘Deutz have 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.’
DEUTZ have reported a 42% rise in consolidated net sales, to €336 million (€236.4 million), in the first quarter of 2011, compared with the same period in 2010. The company also announced a first-quarter net income of €13.7 million – the first time it has made a profit in the first quarter since 2008, and also its best first-quarter operating profit since 2002.
During the first three months of 2011, operating profit was €18.2 million (EBIT), sending a strong signal that Deutz are on an upwards trajectory this year. New orders also increased 30%, to €405 million (Q1 2010: €312 million), and engine sales rose 43%, to 48,416 units (Q1 2010: 33,784 units).
Commenting on the first-quarter results, Dr Margarete Haase, Deutz board of management member for finance, human resources and investor resources, said: ‘Deutz have 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.’
