Engine manufacturer Deutz posted €410.7 million in revenue (about U.S. $549.7 million) for the second quarter, a 10.3-percent increase compared to last year’s second quarter, and a 19.8-percent sequential jump compared to the first quarter of this year. Unit sales rose to 99,079 engines, a 15.3-percent hike compared to the year-ago quarter.
For the first six months of the year, revenue increased 13.8 percent to €753.4 million, compared to €662.1 million for the first six months of 2013. Revenue growth was achieved in each of Deutz’ three regions: Europe, Middle East and Africa; the Americas; and Asia Pacific.
As a result of improved capacity utilization, operating profit for the second quarter almost doubled compared to the same period a year ago, to €20.1 million, compared to €10.1 million a year ago.
Deutz reaffirmed that it expects low double-digit revenue growth for 2014. The company is particularly bullish about its prospects in Asia.
“We have managed to win major new customer projects during the current financial year,” said Dr. Helmut Leube, chairman of the board of Deutz AG. “For example, we established a long-term partnership with Tong Yang Moolsan, a Korean manufacturer of agricultural machinery. TYM is the first tractor manufacturer in Asia to be supplied by Deutz. This collaboration with TYM will strengthen our international presence, particularly in Asia and North America.”
Deutz is headquartered in Cologne, Germany.
