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DEUTZ FY22 Adj. EBIT More Than Doubles; Revenue Up 20.8%
DEUTZ FY22 Adj. EBIT More Than Doubles; Revenue Up 20.8%,DEUTZ (DEZBF.PK, DEUZF.PK) reported that its fiscal 2022 net income increased to 80.2 million euros from 38.2 million euros, last year. Earnings per share increased to 0.

DEUTZ FY22 Adj. EBIT More Than Doubles; Revenue Up 20.8%

DEUTZ (DEZBF.PK,DEUZF.PK) reported that its fiscal 2022 net income increased to 80.2 million euros from 38.2 million euros, last year. Earnings per share increased to 0.66 euros from 0.32 euros. Net income before exceptional items advanced by 108.5 percent to 86.1 million euros. Earnings per share before exceptional items increased to
0.71 euros from 0.34 euros.

EBIT before exceptional items or adjusted EBIT improved to 89.4 million euros from 37.2 million euros, prior year. The EBIT margin before exceptional items widened to 4.6 percent from 2.3 percent.

Revenue increased by 20.8 percent to 1.95 billion euros. With a total of 234,682 units sold, the increase in unit sales was 16.6 percent.

DEUTZ is predicting unit sales of 175,000 to 195,000 DEUTZ engines in 2023, which should result in an increase in revenue to between 1.9 billion and 2.1 billion euros. The adjusted EBIT margin is likely to be in a range of 4.0 percent to 5.0 percent. Free cash flow before M&A is projected to be in the mid-double-digit millions of euros.

The Dual+ strategy adopted by DEUTZ targets to increase revenue by almost 30 percent to more than 2.5 billion euros by 2025. Over the same period, the anticipated rise in the EBIT margin before exceptional items is between 6 percent and 7 percent.

DEUTZ plans to propose a dividend of 0.15 euros per dividend-bearing share to the Annual General Meeting at the end of April 2023.

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