Engine builder Deutz bullish
First publishedon www.WorldHighways.com
Engine manufacturer Deutz claims record results for its latest financial year. The firm says that the 2011 financial year was one of the best in its history even though the global economy deteriorated, particularly in the second half of the year. The firm beat the forecast that it had made at the start of 2011 and revised upwards during the course of the year. Revenue rose by 28.6% to €1.53 billion, compared with €1.12 billion in the previous year. This set a new revenue record for the current corporate structure. All application segments and regions were able to achieve a significant increase in their revenue last year. There was a sharp rise in unit sales of 37.5%, or 230,598 engines compared with 167,680 in the previous year. Operating profit climbed to €91.2 million in 2011, more than double the 2010 figure of €42.2 million.
Based on the operating profit generated in 2011, net income grew to €75.5 million compared with the previous year’s net loss of €15.9 million. New orders totalled €1.48 billion, up 12.5% on the €1.3 billion in the previous year and sales were strong in the off-highway equipment sector. The growth in performance was maintained over the course of the year. Revenue in the fourth quarter of 2011 was up by 1.5% on the third quarter, which itself had been strong. Compared with the previous year, fourth-quarter revenue increased by as much as 10.0% and the company anticipates similarly good results for this year.