DEUTZ AG Q1 Report 2023
Highlights
- DEUTZ acquires IP and licenses for the development and production of MDEG and HDEP engines
- Transaction completed at end of March
- Daimler Truck takes a 4.19% stake in DEUTZ
- Initial talks held with prospective customers
- Cross-functional kick-off meetings took place
- Project pipeline growing:
- Ten battery-electric system projects ongoing
with OEM partners - Five hydrogen projects ongoing
- Ten battery-electric system projects ongoing
- Ongoing process established to evaluate new business models and potential partnerships
- Planned investment of more than €100 million in DEUTZ Green by 2025
Q1 in numbers
- Adjusted EBIT improves to €32.1 million (Q1 2022: €15.8 million) due to:
- economies of scale thanks to increased business volume
- positive product mix effects
- market-oriented pricing policy
- expansion of the service business
- Net income before exceptional items2 amounts to €23.8 million (Q1 2022: €12.5 million)
- Earnings per share before exceptional items2 comes to €0.20 (Q1 2022: €0.10)