Deutz reports anticipated drop in engine sales
04 October 2024
Deutz engine production line in Cologne, Germany (Photo: Deutz)
Engine OEM Deutz has reported a ‘cyclically induced decline’ in sales due to the current economic environment.
According to the report, unit sales and new orders over Q3 2024 were below previous expectations, while there it is unlikely there will be compensatory recovery over Q4.
In August, Deutz reported that it would remain profitable, despite market conditions.
In that report Deutz forecast expected engine sales of up to 160,000 units. Now, that figure is not expected to exceed 150,000.
In response to the situation, Deutz reports that it is to intensify cost-cutting measures, including short working, while initiating measures to reduce direct and indirect costs.
The management board now expects revenues of around €1.8 billion (previously €1.9 billion to €2.1 billion) and an EBIT before exceptional items of 4.0 to 5.0% (previously 5.0 to 6.5%).
Third quarter results are set to be published on 7 November.
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