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DEUTZ AG Financial Results Q1 2024 | Performance, Strategy, and Market Insights

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DEUTZ AG Q1 2024: Key Takeaways

Q1 2024: DEUTZ AG Shows Resilience

In Q1 2024, DEUTZ AG demonstrated resilience and adaptability in challenging economic conditions. Despite a 10.3% decline in revenue to €454.7 million compared to Q1 2023, the company’s stable adjusted EBIT margin of 6.1% underscores its robust business model and strategic positioning.

 

Key Operational Moves

The quarter saw key operational moves, including the completion of an alliance with Daimler Truck and the sale of the Torqeedo Group, which reinforced DEUTZ’s dual strategy and positioned the company for continued growth. Mark Schneider, Head of Investor Relations, gave the presentation detailing the financial highlights, including the completion of the Torqeedo sale, expected to generate a significant book gain in Q2 2024, and the strengthening of DEUTZ’s service business, which showed slight growth.

 

2024 Guidance

The company confirmed its 2024 guidance, targeting 160,000 to 180,000 unit sales, revenue between €1.9 billion and €2.1 billion, an adjusted EBIT margin of 5.0% to 6.5%, and free cash flow in the mid-double-digit millions of euros. This reaffirms DEUTZ AG’s commitment to its financial targets and provides a clear roadmap for stakeholders.

 

Conclusion

The performance and strategic realignments underscore DEUTZ AG’s resilience and readiness to navigate the rest of the year confidently.

Chapters
  • Solid performance in Q1 2024 against a weak economic backdrop

  • Dual+ strategy making DEUTZ Group more resilient

  • Growth of service activities makes business less cyclical

  • Focus switches from pricing in sales to cutting costs in purchasing

  • Comprehensive program initiated in purchasing

  • Sale of Torqeedo completed

  • Dual+ strategy: We are making progress in all areas

  • Profitability still robust despite decline in revenue

  • Q1 2024: Key operational and strategic developments

  • Guidance for 2024 remains the same

  • Medium-term target based on the Dual+ strategy

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mark schneider - DEUTZ AG Financial Results Q1 2024 | Performance, Strategy, and Market Insights -%sitename%

Mark Schneider
Head of Investor Relations | DEUTZ AG

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