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DEUTZ AG
Earnings Release • Mar 2, 2020
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Earnings Release
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News Details
Ad-hoc | 2 March 2020 19:43
DEUTZ AG: DEUTZ expects a decline in business in 2020
DEUTZ AG / Key word(s): Forecast
DEUTZ AG: DEUTZ expects a decline in business in 2020
02-March-2020 / 19:43 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
According to provisional figures, DEUTZ generated revenue of €1,840.8 million and an EBIT margin before exceptional items of 4.3 percent in 2019. The Company expects a decline in business in 2020. DEUTZ expects the year-on-year fall in revenue in 2020 to be in the low double-digit percentage range. For the EBIT margin before exceptional items, the Company expects a decline relative to the prior year figure in the mid double-digit percentage range. The main reason for this is the downturn in key customer industries as a result of economic conditions. This led to a low level of orders on hand at the end of 2019, a situation that is continuing this year. Furthermore, the DEUTZ engine business will be affected this year by customers selling the inventories of engines they had built up before new emissions standards came into force. The establishment of second source suppliers will also have an impact on earnings, particularly in the first half of 2020. Furthermore, DEUTZ can no longer exclude the possibility of its business and its supply chain being affected by the outbreak of coronavirus.
The complete financial results for 2019 will be published on March 18, 2020.
Contact:
Leslie Isabelle Iltgen
Communications & Investor Relations
Senior Vice President
Tel. +49 (0) 221 822-36 00
Fax: +49 (0) 221 822-15 36 00
E-Mail: [email protected]
02-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | DEUTZ AG |
| Ottostraße 1 | |
| 51149 Köln (Porz-Eil) | |
| Germany | |
| Phone: | +49 (0)221 822 0 |
| Fax: | +49 (0)221 822 3525 |
| E-mail: | [email protected] |
| Internet: | www.deutz.com |
| ISIN: | DE0006305006 |
| WKN: | 630500 |
| Indices: | SDAX |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 987891 |
| End of Announcement | DGAP News Service |