DEUTZ AG : Q1 2024 results slightly ahead and FY 2024 outlook reiterated
>Deutz had a robust start to the year in Q1 2024 - Deutz Q1-24 group sales from continuing operations are -10% y-o-y to € 455m (+1% vs ODDO BHF; +2% vs cons.) and their group adj. EBIT is -25% y-o-y to € 27.7m (+3% vs ODDO BHF; +11% vs cons.) with an adj. EBIT margin of 6.1% (+10bp vs ODDO BHF; +50bp vs cons.). As expected, the company was suffering from an adverse market environment in most of its activities with the exception of the Material Handling segment in EME...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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