Deutz AG announced that new orders for 2017 totaled €1,556.5 million compared to €1,261.4 million in 2016, a 23.4-percent increase. All the major application segments, including the service business, registered an increase in new orders.

Almost 162,000 engines were sold, a year-over-year 22-percent hike. The Material Handling, Construction Equipment and Agricultural Machinery segments all grew unit sales significantly. Revenue totaled €1,479.1 million compared to €1,260.2 million in 2016, a 17.4-percent increase. Revenue grew 21.9 percent in Europe, Middle East and Africa, 11.9 percent in the Americas region. Revenue in Asia-Pacific was essentially flat year over year.

Operating profit, or EBIT, soared 81.2 percent to €42.4 million. Net income jumped from €16 million in 2016 to €121.2 million in 2017. Earnings per share was €1.00 compared to €0.14 a year ago.

“The jump in earnings is due not only to the encouraging improvement in our operations but also to a high level of positive exceptional items resulting from the disposal of land that was no longer being used following the successful completion of measures to optimize our network of sites,” said Deutz chief financial officer Dr. Margarete Haase.

“2017 was a very successful year for Deutz,” said Dr. Frank Hiller, chairman. “We have made improvements to our operating performance, got people excited about the new era we are about to embark upon and mapped out the strategic course we intend to follow. The aim with our new E-Deutz strategy is to become market leader for innovative drive systems in the off-highway segment. We now need to keep the momentum from 2017 going. I am very optimistic that Deutz will continue its success in 2018 and that we will achieve our targets.”

The company expects to continue to benefit from a robust global economy in 2018, with positive unit sales trends in key application segments. Deutz forecasts a market increase in revenue and a moderate rise in EBIT margins before exceptional items.