DEUTZ AG : Profit warning for FY 24 due to mounting macro pressure
>A negative surprise on German national day - Deutz yesterday adjusted its guidance for the current financial year due to a cyclically induced decline in demand due to the economic environment. It now expects unit sales of engines to be below 150,000 vs up to 160,000 before. On this basis, FY 24 group sales are now expected at ~€ 1.8bn vs € 1.9-2.1bn before (ODDO BHF: € 1.77bn; cons.: € 1.90bn). The Group adj. EBIT margin is expected in a range of 4.0-5.0% vs 5.0-6.5...Deutz is the parent company of DEUTZ Group, and is engaged as an independent manufacturer of compact diesel engines for both on and off-road use. Co. develops, designs, produces and sells diesel engines that are cooled by water, oil or air. Co.'s operating activities are divided into: the DEUTZ Compact Engines segment, which comprises liquid-cooled engines with capacities of up to eight litres; and the DEUTZ Customised Solutions segment, which focuses on air-cooled engines and large liquid-cooled engines with capacities of more than eight litres, and also supplies reconditioned parts and engines. Co. also repairs, maintains and services vehicles and machines fitted with DEUTZ engines.
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