Cologne, September 20, 2019 – DEUTZ AG is expecting that the insolvency of a major supplier will have an adverse financial impact, the overall effect of which will be that DEUTZ AG can no longer achieve its previous forecast of at least 5.0 percent for the EBIT margin before exceptional items in the current financial year.
Because of the anticipated adverse financial impact, the EBIT margin before exceptional items is now predicted to be in the range of 4 to 5 percent in 2019. DEUTZ AG assumes that supply will be maintained despite the insolvency. Despite the weakening economic conditions, the Company confirms its revenue forecast for 2019 of more than €1.8 billion.
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. The Company does not undertake to update these forward-looking statements or to change them to reflect future events or developments.