Deutz stayed the course for growth in the first quarter of 2023: with an increase in unit sales of 10.6 percent year on year, the manufacturer of drive systems was able to grow revenues by 15.5 percent to €517.2 million. At the same time, with an increase in the adjusted EBIT margin of 3.5 percent to 6.2 percent, profitability also improved significantly. In light of the successful start to the year, the Company already expects to achieve the upper end of the full-year 2023 guidance ranges issued in March. 

Our initiatives launched last year are increasingly paying off. Their systematic implementation helped to improve the adjusted EBIT margin in the Classic segment from 5.8 percent to 8.8 percent year on year. This is not only a great success, it is also tremendously important to us. Because we can only finance our green transformation through a profitable core business and the expansion of our global service business. This is the basic idea behind our ‘Dual+’ strategy, with which we are positioning ourselves for the future,” says Deutz CEO Sebastian C. Schulte.

We are also particularly pleased with our cash flow performance: The operating cash flow grew by more than 200 percent to €31 million in the first quarter, which means that we can report positive free cash flow of €10.8 million. This underlines the Company’s comfortable financial position,” adds Deutz CFO Timo Krutoff

Aside from operational successes, the Company also made further strategic progress: Deutz closed the deal with Daimler Truck on March 29. As a result, with a 4.19 percent stake, Daimler Truck is now one of the Company’s largest shareholders. Moreover, Deutz has also further expanded its service network in the USA, opening its ninth Service Center in Howell, Michigan. 

Download the detailed first quarter 2023 key figures here.

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