DEUTZ AG publishes its results for 2017
DEUTZ AG have published their consolidated financial results for 2017 and below is a snapshot of some of those results.
- Almost 162,000 engines were sold last year, equating to a year-on-year rise of 22.0 per cent and new orders were up by 23.4 per cent (amounting to €1,556.5 million).
- The Material Handling, Construction Equipment and Agricultural Machinery application segments all saw significant growth in unit sales.
- Revenue increased by 17.4 per cent compared to last year. The EMEA region (Europe, Middle East and Africa) saw the biggest rise with an increase of 21.9. This was followed by 11.9 per cent in the Americas region and revenue in the Asia-Pacific region was on a par with 2016.
- Net income advanced from €16.0 million in the previous year to €121.2 million in 2017.
DEUTZ’s Chief Financial Officer, Dr Margarete Haase, says that “The jump in earnings is due not only to the encouraging improvement in our operations but also to a high level of positive exceptional items resulting from the disposal of land that was no longer being used following the successful completion of measures to optimise our network of sites.”
“2017 was a very successful year for DEUTZ. We have made improvements to our operating performance, got people excited about the new era we are about to embark upon and mapped out the strategic course we intend to follow,” explains Dr Frank Hiller, Chairman of the DEUTZ Board of Management.
“The aim with our new E-DEUTZ strategy is to become market leader for innovative drive systems in the off-highway segment.
“We now need to keep the momentum from 2017 going. I am very optimistic that DEUTZ will continue its success in 2018 and that we will achieve our targets.” Frank says.
For 2018, the Company expects that the engine business will continue to benefit from the robust global economy and positive unit sales trends in key application segments.