FX.co ★ DEUTZ Group FY23 Adj. EBIT Rises; Revenue Up 7.8%

DEUTZ Group's fiscal 2023 report indicates a rise in net income to 81.9 million euros, an increase from the prior year's 80.2 million euros. Despite this, earnings per share remained at 0.66 euros. The pre-exceptional items EBIT, or adjusted EBIT, showed an impressive growth of 34.7%, reaching 120.4 million euros. Furthermore, from continuing operations, the adjusted EBIT experienced an increase of 38.7%, amounting to 143.6 million euros.

Additionally, the Group reported a 7.8% increase in their fiscal 2023 revenue, with numbers around 2.10 billion euros. Within the Group's ongoing operations, the revenue displayed a 9.0% increase with a total of 2.06 billion euros.

The Group also outlined projections for 2024. For the Group's ongoing operations, they anticipate unit sales of DEUTZ engines will range between 160,000 to 180,000. Additionally, the revenue for 2024 is expected to fall between 1.9 billion euros and 2.1 billion euros, with an adjusted EBITDA projected in the range of 5.0% to 6.5%.

DEUTZ Group also announced plans to propose a dividend of 0.17 euros for each dividend-bearing share at the Annual General Meeting, scheduled for May 8, 2024.