Engine firm Deutz reports a strong financial performance for the first quarter of 2014. The company says it won new orders amounting to Euro 414.2 million in the first three months of the new year, outstripping the Euro 388.5 million achieved in the same period last year by 6.6%. The firm says that the mobile machinery application segment in particular reported a substantial rise in orders in the first three months of 2014.
However, the company failed to achieve a repeat of the very high level of orders in the second quarter of this year (achieving Euro 446.1 million) because the first quarter is traditionally relatively weak due to seasonal effects. But new orders exceeded revenue by almost 21% in the quarter under review. Compared with the 36,238 engines sold in the first quarter of 2013, there was a Sharp rise in the number of engines sold, which increased by 22.7% to 44,457. Meanwhile unit sales were 9.9% higher in the fourth quarter of 2013, when 49,329 engines were sold.
Revenue rose by 18.2% to Euro 342.7 million in the first quarter of the year over the Euro 289.9 million achieved in the first quarter of 2013. All three regions - EMEA (Europe, Middle East and Africa), the Americas and Asia-Pacific reported increases, although revenue fell short of the figure of Euro 410.1 million for the fourth quarter of 2013. "The increase in our financial strength deserves to be highlighted. At the end of the quarter under review, our net financial debt stood at Euro 35.5 million, an improvement of Euro 33.8 million compared with the figure for the first quarter of 2013," noted Deutz CFO Dr Margarete Haase.
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