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DEUTZ AG / Key word(s): Change in Forecast
DEUTZ is raising its forecast for a second time in 2021, due to continued strong demand in all of the main application segments and a significantly improved earnings performance.
The company now anticipates unit sales of 155,000 to 170,000 DEUTZ engines (previously: 140,000 to 155,000), which should result in an increase in revenue to between €1.6 billion and €1.7 billion (previously: €1.5 billion to €1.6 billion). The forecast for service revenue is unchanged at around €400 million of the total revenue figure. The EBIT margin before exceptional items is predicted to be in a range of 2.0 percent to 3.0 percent (previously: 1.0 percent to 2.0 percent). This raised forecast is based on the assumption that the ongoing difficulties with the supply of components will not worsen significantly in the coming months.
As a result of the improved operating performance, free cash flow is expected to break-even (previously: negative figure in the low double-digit millions of euros).
Further information on business performance will be provided on November 10, 2021 when the quarterly statement for the first to third quarter of 2021 is published.
13-Sep-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
51149 Köln (Porz-Eil)
+49 (0)221 822 0
+49 (0)221 822 3525
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