DEUTZ AG : Soft Q3 2024 results, but FY 2024 guidance reiterated
>Q3 2024 suffered from cyclical headwinds - Deutz released a weak set of Q3 2024 results, which reflect the current adverse macro conditions in their major end markets (construction, agriculture etc.). Q3 2024 group sales were down -20% y-o-y to € 430m (-2% vs. ODDO BHF; in line with css) and group adj. EBIT was down -66% y-o-y to € 7.2m (ODDO BHF: €3.3m; css.: € 7.7m) with an adj. EBIT margin of 1.7% (+100bp vs. ODDO BHF; -10bp vs. css). Deutz reported EPS down fr...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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