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DEUTZ AG
Earnings Release • Jul 27, 2018
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Earnings Release
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News Details
Ad-hoc | 27 July 2018 12:27
DEUTZ AG: DEUTZ raises profit forecast
DEUTZ AG / Key word(s): Change in Forecast
DEUTZ AG: DEUTZ raises profit forecast
27-Jul-2018 / 12:27 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.
Based on a successful first six months of the year and the continuing strength of market demand in 2018, the Board of Management has decided today to provide a more specific revenue forecast and to raise the profit estimate. This comes in the wake of an announcement of arbitration leading to the suspension of the strike at the important supplier Neue Halberg-Guss GmbH. This development is expected to stabilise the situation in the supply chain within a very short period of time.
DEUTZ expects to see a significant increase in revenue during the current financial year to more than EUR1.6 billion despite the six-week strike at Halberg having reduced revenue by an amount in the order of the mid to high double-digit million euros. Until now, DEUTZ had only forecast a significant increase in revenue without specifying a figure. In 2017, DEUTZ generated revenue of EUR1,479 million.
DEUTZ now forecasts a modest increase in the EBIT margin before exceptional items to at least 4.5 %. Until now, DEUTZ had merely held out the prospect of a modest increase in the EBIT margin. In 2017, DEUTZ reported an EBIT margin before exceptional items of 2.9%.
This forecast rests on the assumption that there will be no further strike-related disruption and that the ongoing arbitration will result in a definitive end to the strike action. The interim report for the first six months will be published as planned on 2 August 2018.
For further information on this DEUTZ AG ad-hoc disclosure, please contact:
Contact:
Christian Krupp
Head of Finance, Investor & Public Relations
Tel.: +49 (0)221 822-5400
Fax: +49 (0)221 822-15-5401
E-Mail: [email protected]
27-Jul-2018 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 |
| End of Announcement | DGAP News Service |