Improved financial performance for German engine builder Deutz
First publishedon www.WorldHighways.com
Deutz says it is seeing improved financial performance, recording an operating profit of €42.2 million in 2010. Meanwhile unit sales climbed 42.1% and the firm recorded revenue growth of 37.7%. The Cologne-based firm says it is emerging from the economic crisis well, despite having suffered an operating loss of €46.3 million in 2009. Adjusted for one-off items, which were mainly incurred in connection with the successful restructuring of corporate funding, the operating profit (EBIT) for 2010 amounted to ?22.3 million, compared with an operating loss of €89.2 million in 2009. After deduction of interest and taxes, DEUTZ still made a net loss of €15.9 million, although this was considerably smaller than the net loss of €119.8 million made in 2009. Deutz has benefited from its restructuring measures and investment programmes and looks set to achieve further growth, particularly with the phased launch of its Tier 4 Interim/Stage IIIB technology and future Tier 4 Final/Stage IV systems. The company has been able to draw even greater benefit from the 42.1 per cent rise in unit sales to 167,680 engines, compared with 117,961 units in 2009, as well as the 37.7% increase in revenue to €1,189.1 million against €863.4 million in 2009.