DEUTZ AG currently available, DEUTZ now expects that the criteria needed to trigger payment of the final installment of the purchase price will be met in 2022. Including this exceptional item, DEUTZ had anticipated free cash flow to be a negative figure in the low to mid-double-digit millions of euros for 2021 as a whole. However, cash flow from operating activities is now expected to be much improved thanks to the better business performance in the first half of 2021 than had been expected at the start of the year and the progress that has been made with the ongoing optimization of working capital. Consequently, free cash flow for the whole of 2021 is likely to be only a negative figure in the low double-digit millions of euros despite the fact that the outstanding purchase price installment is now not expected to be received until 2022. Medium-term targets for 2023/2024 confirmed In the medium term, DEUTZ continues to predict an increase in revenue to more than ?2.0 billion in 2023/2024 and an EBIT margin before exceptional items of between 7 percent and 8 percent. DEUTZ Group: overview of key figures ? million H1/2021 H1 2020 Delta Q2/2021 Q2/2020 Delta New orders 1,028.8 623.6 65.0% 564.0 266.9 111.3% Group's total unit sales (units) 93,627 73,859 26.8% 55,243 33,790 63.5% thereof DEUTZ engines 75,431 57,615 30.9% 43,182 26,069 65.5% thereof Torqeedo 18,196 16,244 12.0% 12,061 7,721 56.2% Revenue 770.2 620.0 24.2% 426.8 280.2 52.3% EBIT 16.1 -49.9 - 15.7 -38.1 - thereof exceptional -0.7 0.0 - -0.3 0.0 - items Operating profit/loss 16.8 -49.9 - 16.0 -38.1 - (EBIT before exceptional items) EBIT margin (%) 2.1 -8.0 +10.1 pp 3.7 -13.6 +17.3 pp EBIT margin before exceptional items (%) 2.2 -8.0 +10.2 pp 3.7 -13.6 +17.3 pp Net income 13.3 -52.3 - 14.2 -42.3 - Net income before exceptional items 14.0 -52.3 - 14.5 -42.3 - Earnings per share (?) 0.11 -0.43 - 0.12 -0.35 - Earnings per share before exceptional items (?) 0.12 -0.43 - 0.12 -0.35 - Equity 555.1 596.4 -6.9% 555.1 596.4 -6.9% Equity ratio (%) 44.3 48.5 -4.2 pp 44.3 48.5 -4.2 pp Cash flow from operating activities 44.7 -43.7 - 27.6 -31.8 - Free cash flow 9.7 -85.7 - 11.4 -50.2 - Net financial position -84.3 -117.8 28.4% -84.3 -117.8 28.4% Employees^[3] (June 30) 4,631 4,673 -0.9% 4,631 4,631 -0.9% The Interim report for the first half of 2021 is available at DEUTZ AG: Investor Relations.
Contact DEUTZ AG / Christian Ludwig / SVP Communications & Investor Relations Tel: +49 (0)221 822 3600 / Email: Christian.Ludwig@deutz.com
DEUTZ AG / Svenja Deißler / Investor Relations Tel: +49 (0)221 822 2491 / Email: Svenja.Deissler@deutz.com ^[1] Excluding electric boat drives from DEUTZ subsidiary Torqeedo. ^[2] Excluding electric boat drives from DEUTZ subsidiary Torqeedo. ^[3] FTEs, excluding temporary workers. -----------------------------------------------------------------------------------------------------------------------
2021-08-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English
Company: DEUTZ AG
Ottostraße 1
51149 Köln (Porz-Eil)
Germany
Phone: +49 (0)221 822 0
Fax: +49 (0)221 822 3525
E-mail: ir@deutz.com
Internet: www.deutz.com
ISIN: DE0006305006
WKN: 630500
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1225536
End of News DGAP News Service
------------- 1225536 2021-08-12
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(END) Dow Jones Newswires
August 12, 2021 01:30 ET (05:30 GMT)
