Shares of Deutz have seen a significant increase after the company recently raised its full-year profitability guidance, citing higher third-quarter revenue and earnings. At 0913 GMT, the shares traded 3.7% higher at EUR4.17, having previously risen more than 8%.
Adjusted Earnings Before Interest and Taxes Margin revised
The German motor and generators company has now revised its adjusted earnings before interest and taxes (EBIT) margin expectations to a range of 5.3% to 5.8%, up from the previous estimate of 5.0%.
Impressive Third-Quarter Performance
Deutz reported a third-quarter net profit of 21.6 million euros ($23.1 million), an increase from EUR17.1 million in the same period last year. Additionally, the company's adjusted EBIT climbed by 30% to EUR30.2 million, with an expanded margin of 5.8% compared to the previous 5.0%. The revenue for the quarter also marked growth, rising by 11% to EUR516.5 million.
Full-Year Outlook and Unit Sales Expectations
Despite the global challenges posed by the ongoing pandemic, Deutz has underscored its confidence in achieving its full-year revenue guidance of EUR2.1 billion. Furthermore, the company has narrowed its projections for unit sales for the year, now expecting it to be between 185,000 and 190,000 compared to the previous range of 175,000-195,000.
In conclusion, Deutz's positive financial performance and raised guidance point to a strong and promising outlook for the company.
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