Deutz ag enjoys q1 profit
German engine manufacturer Deutz AG, of whom Italian firm SDF (Same Deutz Fahr) holds a major stake in, announced its preliminary trading figures for the first three months of this year and reports that it has made a profit in the first quarter of the year.
The Cologne firm states that this is the first time it has made a profit in the first quarter since 2008.
Another positive sign is that Deutz AG reports that it is also its best first-quarter operating profit since 2002.
The firm stated that its operating profit in the first quarter of this year was €18.2m, with a net income of €13.7m.
By comparison, in the same period last year, the firm reported an operating profit of just €0.7m.
New orders in the first quarter of this year amounted to €408.5m, which is a rise of around 30pc on orders received in the same period last year (€312m).
To achieve this, engine sales increased by 43.3pc in comparison to the same period last year, from 33,784 engines to 48,416.