German engine manufacturer Deutz won €414.2 million (about U.S. $574.6 million) in new orders during the first quarter, compared to €388.5 million in new orders in the first quarter of 2013, a 6.6-percent increase. The mobile machinery application segment was particularly strong in the new orders area.
Number of engines sold in the first quarter increased 22.7 percent to 44,457, compared to 36,238 a year ago. Revenue jumped 18.2 percent to €342.7 million, compared to €289.9 million in the year-ago period.
Deutz posted €1.9 million in EBITDA, compared to a loss of €6.9 million in the first quarter of 2013.
“The increase in our financial strength deserves to be highlighted,” said Deutz chief financial officer Dr. Margarete Haase. The company said there was a year-over-year improvement in all key financial areas.
Deutz, based in Cologne, Germany, is forecasting encouraging revenue growth for 2014, helped by growth projects that have been initiated and the increasing proportion of total sales attributable to higher value engines that comply with new emission standards.