RCS - Deutz AG - 9 Month figures

Deutz AGAnnouncement

09/11/2023 09:00

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RNS Number : 9248S  Deutz AG  09 November 2023

 DEUTZ AG / Key word(s): 9 Month figures

DEUTZ generates further profitable growth in the third quarter and raises its
 full-year earnings guidance for 2023 - first H2 volume production order
 received

09.11.2023 / 07:30 CET/CEST

The issuer is solely responsible for the content of this announcement.

·      Revenue increases by around 10 % to €1.54 billion in the
 nine-month period

 ·      Adjusted EBIT up by around 40 % to €92.7 million in the
 nine-month period - 2023 guidance for the adjusted EBIT margin raised to
 between 5.3 % and 5.8 % (previously: around 5 %)

 ·      New orders hold steady in Q3 2023 (up by 0.5 % compared with Q3
 2022)

 ·      First volume production order for 100 hydrogen-powered gensets
 received from China

 Cologne, November 9, 2023 - DEUTZ is maintaining its growth trajectory and can
 look back on a successful third quarter, with revenue rising by 11 percent
 and adjusted EBIT climbing by around 30 percent to approximately
 €30 million. In the first three quarters of this year, the drive
 manufacturer increased its revenue by around 10 percent, while adjusted EBIT
 advanced by around 40 percent to almost €93 million. The significant
 improvement in profitability can be seen from the growth of the EBIT margin
 before exceptional items from 4.7 percent to 6.0 percent.

 "The strong results for the third quarter show that we are operating on an
 increasingly profitable basis as we forge ahead with the implementation of our
 Dual+ strategy. This has enabled us to raise our full-year guidance for the
 adjusted EBIT margin from around 5 percent to an anticipated range of between
 5.3 percent and 5.8 percent. The improved performance of the Classic
 business - illustrated by a jump in the adjusted EBIT margin to 8.8 percent -
 enables us to finance both the expansion of our service business and the
 establishment of our green product portfolio while continuing to achieve
 profitable growth," says DEUTZ CEO Dr. Sebastian C. Schulte.

 Commenting on the Group's order situation, DEUTZ CFO Timo Krutoff adds: "Our
 new orders held steady in the third quarter, bucking the wider market trend.
 Pre-order effects in 2022 led to a year-on-year fall in new orders over the
 first three quarters of 2023 but, given the healthy level of orders on hand,
 we are nevertheless optimistic about the final quarter of the year and are
 confirming our revenue guidance of around €2.1 billion."

 The ongoing implementation of the Dual+ strategy is delivering tangible
 success, and not simply from an operational perspective. In the Green segment,
 DEUTZ took its first volume production order for 100 hydrogen gensets from
 China. CEO Schulte: "The first volume production order for our new
 hydrogen-powered gensets represents a major strategic milestone in many
 regards. It shows that we can offer products that meet market demand also
 outside our existing drive portfolio. It will allow us, and our customer, to
 gain invaluable experience with this pioneering technology. And looking
 forward, it brings us another step closer to becoming climate-neutral."

 The gensets will initially be powered by gray hydrogen, which is a by-product
 of industrial processes. This can reduce carbon emissions by up to 800 tonnes
 per year per genset compared with conventional electricity generation. These
 gensets are already creating a hydrogen technology infrastructure, which at a
 later point in time will be able to switch to using climate-neutral green
 hydrogen. Volume production of DEUTZ hydrogen engines for stationary
 applications is scheduled to begin at DEUTZ's Cologne-Porz site at the end of
 2024.

 The Company is also continuing to systematically implement the organizational
 changes in the Green segment that were initiated during the summer. These
 changes are primarily aimed at grouping together the development and sales
 activities relating to alternative drives in order to maintain an even sharper
 focus on the needs of the market and customers. The strategic realignment also
 affects the investment in DEUTZ subsidiary Torqeedo, which focuses on electric
 boat drives. DEUTZ is currently in advanced sales negotiations with a number
 of prospective buyers. The transaction is expected to be completed next year.

 Furthermore, the Company has made progress with the global expansion of the
 service and parts business, the 'plus' in its Dual+ strategy. The acquisition
 of the Scandinavian Diesel Motor Nordic Group, which was completed at the
 start of October, represents another key milestone in the transition from
 traditional engine manufacturer to provider of on-highway and off-highway
 solutions. The revenue of the highly profitable service business grew by
 7.2 percent to €360.5 million in the first three quarters of this year.
 The service business thus accounted for around 23 percent of consolidated
 revenue and now constitutes the second-largest area of business in terms of
 revenue.

 Fall in new orders, primarily due to spending brought forward in 2022;

double-digit revenue growth

 New orders received by the DEUTZ Group amounted to €1,435.8 million in the
 first nine months of 2023, compared with €1,519.7 million in the same
 period of 2022. The year-on-year decrease of 5.5 percent was primarily due to
 implementation of the fixed-volume program for compact engines in the fourth
 quarter of 2022. The supply chain disruptions, resulting in longer delivery
 times during that period, had prompted customers to place orders early, with
 longer order horizons. This had boosted new orders in the fourth quarter of
 2022, particularly in the Construction Equipment and Material Handling
 application segments. These pre-orders, along with the normalization of
 customers' ordering behavior as the supply chain difficulties gradually ease
 over the course of 2023, is bringing levels of new orders this year back in
 line with the average.

 Orders on hand totaled €666.5 million as at September 30, 2023 (September
 30, 2022: €828.8 million). This still represents a high level of orders on
 hand that is well above the volumes seen at the corresponding dates in the
 years prior to the pandemic and the supply chain crisis.

 With a total of 137,559 DEUTZ engines 1  sold, DEUTZ registered an increase in
 unit sales of 5.1 percent in the reporting period. This growth was
 predominantly attributable to a sharp rise in unit sales in the Material
 Handling application segment.

 DEUTZ's revenue grew by 10.3 percent to €1,540.0 million. All regions and
 nearly all of the main application segments recorded increases in revenue. The
 stronger increase in revenue relative to unit sales was largely due to
 positive product mix effects, combined with a market-oriented pricing policy
 in the Classic business and the discontinuation of older engine series with
 lower average sales prices.

 Further jump in earnings

 Adjusted EBIT (EBIT before exceptional items) amounted to €92.7 million in
 the first three quarters of 2023, a rise of €26.8 million or 40.7 percent
 compared with the prior-year period. DEUTZ achieved this despite the
 year-on-year increase in the loss reported by Torqeedo in the third quarter,
 unfavorable currency effects and higher procurement and employment costs. This
 significant improvement was due to the growth in the volume of business in the
 Classic segment, combined with market-oriented pricing and the focused
 implementation of the growth strategy in the service business. The adjusted
 EBIT margin also made a strong year-on-year improvement, rising from
 4.7 percent to 6.0 percent.

 Taking account of exceptional items amounting to an expense of
 €0.7 million, EBIT for the first nine months of 2023 amounted to
 €92.0 million (Q1-Q3 2022: €57.4 million 2 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn2)
 ).

 Due to the increase in adjusted EBIT, net income improved from
 €45.1 million in the first three quarters of 2022 to €65.9 million in
 the first three quarters of 2023. As a result, earnings per share increased
 from €0.37 to €0.53. Net income before exceptional items stood at
 €66.5 million and earnings per share before exceptional items at €0.53.

 Financial position remains comfortable

 Cash flow from operating activities amounted to a net cash inflow of
 €58.3 million in the first nine months of 2023, compared with a net cash
 outflow of €13.8 million in the prior-year period. This improvement was
 attributable to the smaller amount of net cash used for working capital and to
 the rise in operating profit. As a result, free cash flow improved from minus
 €69.8 million in the prior-year period to minus €13.4 million in the
 reporting period.

 The equity ratio stood at 45.7 percent as at September 30, 2023, compared
 with 45.3 percent at the end of 2022. The DEUTZ Group's financial position
 therefore remains comfortable.

 Full-year guidance for 2023 refined - improved profitability expected

 DEUTZ is refining its full-year guidance for 2023 as follows in view of its
 business performance in the first three quarters and on the basis of its
 existing planning for unit sales and production:

 Having announced in April that unit sales would reach the upper end of the
 target range included in the original guidance of 175,000 to 195,000 DEUTZ
 engines 3 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn3)
 , the Company now anticipates unit sales of around 185,000 to 190,000 DEUTZ
 engines. This is still expected to result in an increase in consolidated
 revenue to around €2.1 billion.

 As the measures to boost efficiency and profitability in the Classic segment
 continue to be implemented successfully, the Group's adjusted EBIT margin is
 anticipated to be between 5.3 percent and 5.8 percent, which is higher than
 the figure previously forecast of around 5.0 percent. Looking at the
 individual segments, the adjusted EBIT margin for the Classic segment is now
 expected to be between 8.0 percent and 8.5 percent (previously: 6.0 percent
 to 7.0 percent). Adjusted EBIT for the Green segment is likely to amount to a
 loss of around €55 million (previously: adjusted EBIT margin of minus
 40 percent to minus 30 percent).

 Free cash flow before mergers and acquisitions is predicted to be in the
 mid-double-digit millions of euros.

 DEUTZ Group: Overview of key figures

€ million                                                                                                                           Q1-Q3 2023  Q1-Q3 2022  Change  Q3      Q3      Change

 2023
 2022
 New orders                                                                                                                          1,435.8     1,519.7     -5.5%   444.1   442.1   0.5%
 Group unit sales 4                                                                                                                  165,067     169,352     -2.5%   57,722  60,611  -4.8%
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn4)
 (units)
 thereof DEUTZ engines 5                                                                                                             137,559     130,875     5.1%    46,108  40,413  14.1%
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn5)
 thereof Torqeedo                                                                                                                    27,508      38,477      -28.5%  11,614  20,198  -42.5%
 Revenue                                                                                                                             1,540.0     1,395.8     10.3%   516.5   465.4   11.0%
 EBIT                                                                                                                                92.0        57.4        60.3%   30.2    21.9    37.9%
 thereof exceptional items 6                                                                                                         -0.7        -8.5        -91.8%  0.0     -1.4    -
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn6)
 Adjusted EBIT (EBIT before exceptional items)                                                                                       92.7        65.9        40.7%   30.2    23.3    29.6%
 EBIT margin                                                                                                                         6.0%        4.1%        +1.9pp  5.8%    4.7%    +1.1pp
 EBIT margin before exceptional items                                                                                                6.0%        4.7%        +1.3pp  5.8%    5.0%    +0.8pp
 Net income                                                                                                                          65.9        45.1        46.1%   21.6    17.1    26.3%
 Net income before exceptional items                                                                                                 66.5        52.2        27.4%   21.6    18.2    18.7%
 Earnings per share (€)                                                                                                              0.53        0.37        43.2%   0.17    0.14    21.4%
 Earnings per share before exceptional items (€)                                                                                     0.53        0.43        23.3%   0.17    0.15    13.3%
 Equity (Sep. 30/Dec. 31)                                                                                                            737.8       668.8       10.3%
 Equity ratio                                                                                                                        45.7        45.3        +0.4pp
 Cash flow from                                                                                                                      58.3        -13.8       -       9.4     -28.4   -

operating activities
 Free cash flow                                                                                                                      -13.4       -69.8       80.8%   -21.7   -45.1   51.9%
 Net financial position                                                                                                              -205.7      -164.2      -25.3%

(Sep. 30/Dec. 31)
 Employees 7                                                                                                                         5,275       4,995       5.6%
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn7)
 (Sep. 30)

DEUTZ Classic segment: Overview of key figures

€ million           Q1-Q3 2023  Q1-Q3 2022  Change  Q3      Q3      Change

 2023
 2022
 New orders          1,392.6     1,475.7     -5.6%   428.4   425.1   0.8%
 Unit sales (units)  137,531     130,870     5.1%    46,107  40,411  14.1%
 Revenue             1,504.0     1,344.4     11.9%   507.0   444.3   14.1%
 Adjusted EBIT       132.0       92.5        42.7%   45.3    31.2    45.2%
 Adjusted            8.8%        6.9%        +1.9pp  8.9%    7.0%    +1.9pp

EBIT margin

DEUTZ Green segment: Overview of key figures

€ million                                                                                                                           Q1-Q3 2023  Q1-Q3 2022  Change   Q3       Q3      Change

 2023
 2022
 New orders                                                                                                                          43.2        44.0        -1.8%    15.7     17.0    -7.6%
 Unit sales 8                                                                                                                        27,536      38,482      -28.4%   11,615   20,200  -42.5%
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn8)
 (units)
 Revenue                                                                                                                             36.0        51.4        -30.0%   9.5      21.1    -55.0%
 Adjusted EBIT                                                                                                                       -39.5       -26.2       -50.8%   -15.1    -8.1    -86.4%
 Adjusted                                                                                                                            -109.7%     -51.0%      -58.7pp  -158.9%  -38.4%  -120.5pp

EBIT margin

The quarterly statement for the first to third quarter of 2023 is available at
 www.deutz.com/en/investor-relations (http://www.deutz.com/investor-relations)
 .

 Upcoming financial dates

 March 19, 2024: Publication of the 2023 annual report

 May 8, 2024: Annual General Meeting

 Contact

 DEUTZ AG / Christian Ludwig / SVP Communications & Investor Relations

Tel: +49 (0)221 822 3600 / Email: Christian.Ludwig@deutz.com

 DEUTZ AG / Svenja Deißler / Senior Manager Investor Relations & ESG

Tel: +49 (0)221 822 2491 / Email: Svenja.Deissler@deutz.com

  Forward-looking statements

 This press release may contain certain forward-looking statements based on
 current assumptions and forecasts made by the DEUTZ management team. Various
 known and unknown risks, uncertainties, and other factors may lead to material
 differences between the actual results, the financial position, or the
 performance of the DEUTZ Group and the estimates and assessments set out here.
 These factors include those that DEUTZ has described in published reports,
 which are available at www.deutz.com (http://www.deutz.com) . The Company does
 not undertake to update these forward-looking statements or to change them to
 reflect future events or developments.

 About DEUTZ AG

 DEUTZ AG, a publicly traded company headquartered in Cologne, Germany, is one
 of the world's leading manufacturers of innovative drive systems. Its core
 competencies are the development, production, distribution, and servicing of
 drive solutions in the power range up to 620 kW for off-highway applications.
 The current portfolio extends from diesel, gas, and hydrogen engines to hybrid
 and all-electric drives. DEUTZ drives are used in a wide range of applications
 including construction equipment, agricultural machinery, material handling
 equipment such as forklift trucks and lifting platforms, commercial vehicles,
 rail vehicles, and boats used for private or commercial purposes. DEUTZ has
 around 5,000 employees worldwide and almost 900 sales and service partners in
 more than 130 countries. It generated revenue of more than €1.9 billion in
 2022. Further information is available at www.deutz.com (http://www.deutz.com)
 .

 ( 1 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref1)
 ) Excluding electric boat drives from DEUTZ subsidiary Torqeedo.

 ( 2 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref2)
 ) Taking account of exceptional items amounting to an expense of
 €8.5 million due to the recognition of provisions following several changes
 at senior management level.

 ( 3 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref3)
 ) Excluding electric boat drives from DEUTZ subsidiary Torqeedo.

 ( 4 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref4)
 ) From 2023, the unit sales included for the DEUTZ subsidiary Torqeedo consist
 not only of electric boat drives but also battery systems (Q1-Q3 2023: 3,624
 units). The figure for the prior-year period has not been retrospectively
 adjusted.

 ( 5 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref5)
 ) Excluding electric boat drives from DEUTZ subsidiary Torqeedo.

 ( 6 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref6)
 ) Significant income generated or expenses incurred that, due to their timing
 and/or specific nature, are unlikely to recur and are outside the scope of the
 Company's ordinary business activities.

 ( 7 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref7)
 ) Number of employees expressed in FTEs (full-time equivalents); excluding
 temporary workers.

 ( 8 
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref8)
 ) Torqeedo boat drives and, from 2023, Torqeedo battery systems (Q1-Q3 2023:
 3,624 units; the figure for the prior-year period has not been retrospectively
 adjusted), E-DEUTZ battery systems, E-DEUTZ drive systems, DEUTZ PowerTree,
 hydrogen engines.

09.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News
 - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
 Financial/Corporate News and Press Releases.
 Archive at www.eqs-news.com

DEUTZ Classic segment: Overview of key figures

 € million           Q1-Q3 2023  Q1-Q3 2022  Change  Q3      Q3      Change

2023
2022
 New orders          1,392.6     1,475.7     -5.6%   428.4   425.1   0.8%
 Unit sales (units)  137,531     130,870     5.1%    46,107  40,411  14.1%
 Revenue             1,504.0     1,344.4     11.9%   507.0   444.3   14.1%
 Adjusted EBIT       132.0       92.5        42.7%   45.3    31.2    45.2%
 Adjusted            8.8%        6.9%        +1.9pp  8.9%    7.0%    +1.9pp

EBIT margin

DEUTZ Green segment: Overview of key figures

 € million                                                                                                                           Q1-Q3 2023  Q1-Q3 2022  Change   Q3       Q3      Change

2023
2022
 New orders                                                                                                                          43.2        44.0        -1.8%    15.7     17.0    -7.6%
 Unit sales 8                                                                                                                        27,536      38,482      -28.4%   11,615   20,200  -42.5%
 (file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftn8)
 (units)
 Revenue                                                                                                                             36.0        51.4        -30.0%   9.5      21.1    -55.0%
 Adjusted EBIT                                                                                                                       -39.5       -26.2       -50.8%   -15.1    -8.1    -86.4%
 Adjusted                                                                                                                            -109.7%     -51.0%      -58.7pp  -158.9%  -38.4%  -120.5pp

EBIT margin

The quarterly statement for the first to third quarter of 2023 is available at
www.deutz.com/en/investor-relations (http://www.deutz.com/investor-relations)
.

Upcoming financial dates

March 19, 2024: Publication of the 2023 annual report

May 8, 2024: Annual General Meeting

Contact

DEUTZ AG / Christian Ludwig / SVP Communications & Investor Relations

Tel: +49 (0)221 822 3600 / Email: Christian.Ludwig@deutz.com

DEUTZ AG / Svenja Deißler / Senior Manager Investor Relations & ESG

Tel: +49 (0)221 822 2491 / Email: Svenja.Deissler@deutz.com

 Forward-looking statements

This press release may contain certain forward-looking statements based on
current assumptions and forecasts made by the DEUTZ management team. Various
known and unknown risks, uncertainties, and other factors may lead to material
differences between the actual results, the financial position, or the
performance of the DEUTZ Group and the estimates and assessments set out here.
These factors include those that DEUTZ has described in published reports,
which are available at www.deutz.com (http://www.deutz.com) . The Company does
not undertake to update these forward-looking statements or to change them to
reflect future events or developments.

About DEUTZ AG

DEUTZ AG, a publicly traded company headquartered in Cologne, Germany, is one
of the world's leading manufacturers of innovative drive systems. Its core
competencies are the development, production, distribution, and servicing of
drive solutions in the power range up to 620 kW for off-highway applications.
The current portfolio extends from diesel, gas, and hydrogen engines to hybrid
and all-electric drives. DEUTZ drives are used in a wide range of applications
including construction equipment, agricultural machinery, material handling
equipment such as forklift trucks and lifting platforms, commercial vehicles,
rail vehicles, and boats used for private or commercial purposes. DEUTZ has
around 5,000 employees worldwide and almost 900 sales and service partners in
more than 130 countries. It generated revenue of more than €1.9 billion in
2022. Further information is available at www.deutz.com (http://www.deutz.com)
.

( 1 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref1)
) Excluding electric boat drives from DEUTZ subsidiary Torqeedo.

( 2 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref2)
) Taking account of exceptional items amounting to an expense of
€8.5 million due to the recognition of provisions following several changes
at senior management level.

( 3 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref3)
) Excluding electric boat drives from DEUTZ subsidiary Torqeedo.

( 4 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref4)
) From 2023, the unit sales included for the DEUTZ subsidiary Torqeedo consist
not only of electric boat drives but also battery systems (Q1-Q3 2023: 3,624
units). The figure for the prior-year period has not been retrospectively
adjusted.

( 5 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref5)
) Excluding electric boat drives from DEUTZ subsidiary Torqeedo.

( 6 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref6)
) Significant income generated or expenses incurred that, due to their timing
and/or specific nature, are unlikely to recur and are outside the scope of the
Company's ordinary business activities.

( 7 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref7)
) Number of employees expressed in FTEs (full-time equivalents); excluding
temporary workers.

( 8 
(file:///C%3A/Users/wmueller/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/4C1MIUGW/1768807-1699511421-EN.html#_ftnref8)
) Torqeedo boat drives and, from 2023, Torqeedo battery systems (Q1-Q3 2023:
3,624 units; the figure for the prior-year period has not been retrospectively
adjusted), E-DEUTZ battery systems, E-DEUTZ drive systems, DEUTZ PowerTree,
hydrogen engines.

 

09.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News
- a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

 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:  1768807

 

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