Engine manufacturer Deutz (ETR:DEZG) announced on Thursday that it has seen an increase in its order intake for 2024, even as its adjusted earnings before interest and taxes (EBIT) nearly halved.
Shares fell 6.5% in response to results.
The company attributed this decrease in earnings to a weakened economic environment and reduced production volume in its diesel and gas engine segment.
The order intake for 2024 reached 1.8 billion euros ($1.96 billion), while the EBIT dropped to 76.7 million euros, marking a 46% decline from the previous year.
Looking ahead, Deutz, which stands to gain from fiscal reforms in Germany, has projected sales between 2.1-2.3 billion euros for the 2025 financial year. This forecast aligns with the London Stock Exchange Group’s (LON:LSEG) expectations of 2.1 billion euros.
The company, however, clarified in a statement that its outlook does not factor in the potential effect of U.S. tariffs.
