DEUTZ AG (FRA:DEZ) DEUTZ AG: DEUTZ expects a decline in business in 2020
Transparency directive : regulatory news
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DGAP-Ad-hoc: DEUTZ AG / Key word(s): Forecast According to provisional figures, DEUTZ generated revenue of €1,840.8 million and an EBIT margin before exceptional items of 4.3 percent in 2019. The Company expects a decline in business in 2020. DEUTZ expects the year-on-year fall in revenue in 2020 to be in the low double-digit percentage range. For the EBIT margin before exceptional items, the Company expects a decline relative to the prior year figure in the mid double-digit percentage range. The main reason for this is the downturn in key customer industries as a result of economic conditions. This led to a low level of orders on hand at the end of 2019, a situation that is continuing this year. Furthermore, the DEUTZ engine business will be affected this year by customers selling the inventories of engines they had built up before new emissions standards came into force. The establishment of second source suppliers will also have an impact on earnings, particularly in the first half of 2020. Furthermore, DEUTZ can no longer exclude the possibility of its business and its supply chain being affected by the outbreak of coronavirus. The complete financial results for 2019 will be published on March 18, 2020. Contact: Leslie Isabelle Iltgen Communications & Investor Relations Senior Vice President Tel. +49 (0) 221 822-36 00 Fax: +49 (0) 221 822-15 36 00 E-Mail: leslie.iltgen@deutz.com
02-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| 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: | 987891 |
| End of Announcement | DGAP News Service |
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987891 02-March-2020 CET/CEST