Deutz AG posted €574.9 million in new first quarter orders compared to €403.2 million in last year’s first quarter, a 42.6-percent leap. It was an even bigger hike compared to the fourth quarter of 2017 when new order revenue was €382.7 million. The rise in new orders was partly the result of favorable business conditions as well as changed customer procurement behavior, Deutz said. With strong demand and the introduction of emissions standard EU Stage V in the coming year, customers placed orders early to be sure of securing delivery.

The unit sales figure for the first quarter of 2018 was 48,548 engines, including 2,133 electric motors sold under the Torqueedo brand. The company sold 37,153 in the first quarter of 2017, a 30.4-percent year-over-year hike. The increase compared to the fourth quarter was 11.7 percent when 43,367 engines were sold. Revenue came to €414.5 million, a 17.6-percent increase on the first three months of last year when revenue was €352.5 million. Revenue was €385.9 million in the fourth quarter of 2017, thus a 7.4-percent quarter-over-quarter jump.

Operating profit increased by about a third, from €14.1 million to €21.7 million year over year.

“The new financial year has got off to a very encouraging start, particularly in terms of market demand and improved profitability,” said Dr. Frank Hiller, chairman of the board. “We are taking this tailwind with us into the second quarter. Although we expect to see the usual seasonal decline in the summer quarter, we anticipate that this will be less pronounced than in previous years.”