Deutz reported a sharp rebound in its volume of new orders in the first quarter, a continuation of positive fourth-quarter trends. Deutz received orders worth €388.5 million (about U.S. $511 million), a 40-percent increase compared to the figure achieved in the previous quarter (€276.6 million). The figure was essentially equal to the first quarter of 2012 (€390 million).

Deutz sold 36,238 engines in the first quarter, 22-percent fewer than in the year-ago quarter. Unit sales also fell short of the fourth-quarter total, in which 46,553 engines were sold, about 22-percent more.

Revenue generated in the first quarter was €289.9 million, a 14-percent decrease compared to €336.9 million a year ago. It was a 10-percent drop compared to the fourth quarter, when revenue totaled €322.5 million.

Deutz reiterated its outlook for the current year. “We expect to achieve revenue of at least €1.4 billion and an EBIT margin of more than 3 percent,” said board chairman Dr. Helmet Leube. “We are especially encouraged by the strong recovery in the volume of new orders.”

Deutz is based in Cologne, Germany.