DEUTZ AG has revised its forecast for fiscal year 2024, now anticipating revenue to be approximately 1.8 billion euros, down from the previously projected range of 1.9 billion to 2.1 billion euros. The company's updated projection for the EBIT margin, excluding exceptional items, is between 4.0% and 5.0%, a decrease from the former estimate of 5.0% to 6.5%. Additionally, DEUTZ is forecasting unit sales for the entire year to fall below 150,000 engines, a revision from the August 2024 guidance which capped expectations at 160,000 engines.
The adjustment in guidance comes as a response to an economic environment that has resulted in a cyclical downturn in demand. Furthermore, both unit sales and new orders in the third quarter have not met previous expectations.
DEUTZ is scheduled to release its third-quarter results on November 7, 2024, as planned.
