Deutz AG (DEZBF.PK), a German internal combustion engine manufacturer, Thursday reported significantly higher net income in its second quarter with growth in revenues, and slightly higher unit sales. Orders also were higher than last year. Further, the firm maintained fiscal 2025 outlook.
On the XETRA in Germany, Deutz shares were climbing around 10.3 percent to trade at 8.31 euros.
In the second quarter, the company's net income surged 95.6 percent to 17.8 million euros from last year's 9.1 million euros. Earnings per share were 0.13 euro, up 85.7 percent from 0.07 euro a year ago.
Adjusted earnings per share were 0.17 euro, compared to 0.12 euro last year.
Adjusted EBIT grew 16.5 percent year-over-year to 26.1 million euros, while adjusted EBIT margin dropped 0.3 percentage points to 5.0 percent from 5.3 percent last year.
Adjusted EBITDA increased 12.6 percent from last year to 49.9 million euros, while adjusted EBITDA margin fell 0.9 percentage points from the prior year to 9.6 percent.
Revenue for the quarter climbed 23.1 percent to 518.1 million euros from last year's 420.8 million euros. Unit sales edged up 0.7 percent to 36,177 units from 35,920 units a year ago.
New orders climbed 31.3 percent to 488.0 million euros from last year's 371.8 million euros.
DEUTZ Group's orders on hand stood at 490.9 million euros as of June 30, compared to 365.9 million euros last year.
Further, the company said it continues to expect fiscal 2025 revenue between 2.1 billion euros and 2.3 billion euros and an adjusted EBIT margin of between 5.0 percent and 6.0 percent.
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