Deutz AG, the Cologne, Germany based engine manufacturer built on its strong second quarter with a strong third quarter, the company reported this week. Deutz took new orders totaling €372.7 million (about U.S. $508 million) between July and September of this year, a 14-percent increase compared with the third quarter of 2010. Unit sales again rose substantially in the third quarter, jumping 51 percent year-over-year to total 61,310 engines.
Revenues jumped to €399.4 million in the quarter, a jump of almost 40 percent compared with the same period a year ago, which posted €285.9 million. The company also doubled its operating profit to €25.1 million compared with €12.1 million in the year-ago period.
“The business performance of Deutz is very satisfactory, and demand for our engines has remained high to date,” said Dr. Helmut Leube, Deutz chairman. “We are firmly focused on the challenges ahead, we are looking to the future with optimism and we remain confident that we will meet our targets this year.”