Deutz posted €553.9 million in the third quarter of 2026 compared to €493.3 million in the third quarter of 2025, a 12.3-percent increase for the Germany-based engine and generator maker. For the first nine months of 2026, Deutz reported €1,669.2 million in revenue compared to €1,500.4 million, an 11.3-percent hike.

New orders increased in the third quarter by 34.2 percent to €631.2 million from €470 million in the third quarter in 2025. For the first nine months of 2026, new orders totaled €1,962.5 million compared to €1,504.5 million in the first nine months of 2025, a 30.5-percent jump.

Deutz has remained firmly on its growth trajectory despite challenging market condition because of sustained organic growth, operational advances, and strategic acquisitions that have enabled the company to successfully position itself in crisis-resilient lines of business.

The increases in revenue and new orders in the first nine months of 2026 were driven by all of the company’s main segments. The jump in the adjusted EBIT margin of 1.3 percentage points was because of higher revenue, the resulting improvement in capacity utilization in the plants, healthy contributions from M&A transactions, and the successful implementation of the efficiency programs, especially in the engines business.

“Once again, we generated double-digit rises in new orders, revenue, and earnings and significantly increased our profitability amid market conditions that remain challenging,” said Deutz CEO Sebastian Schulte. “We will continue on this path of growth at an accelerated pace following the acquisition of FFG, which has now been completed. FFG will already be contributing additional revenue of over €1 billion in 2027, with an adjusted EBITDA margin of more than 20 percent, making our defense business one of the Group’s central pillars. With FFG on board, we will become a leading provider of military vehicles, drive systems, and energy solutions made in Germany.”

Acquisition fuels defense business

At the start of July, Deutz signed an agreement to acquire FFG Flensburger Fahrzeugbau Gesellschaft mbH (FFG). During an extraordinary general meeting in late August, Deutz shareholders voted almost unanimously in favor of a capital increase in return for a non-cash contribution, to be used to partly fund the acquisition.

The completion of this transaction, which is the biggest in the company’s history to date, is a game changer in many ways. It will make Deutz a major player in the defense business. Second, the company’s newest business unit will evolve into a central pillar of the group alongside the established Energy, Engines, and NewTech business units and the service business, which is a key driver of growth across all of the other areas of business. Going forward, FFG will represent the core of Deutz’s defense activities. But all segments are set to benefit from synergy effects and access to new markets.

Deutz has also taken further steps to expand its activities relating to mobility and energy solutions for security and defense applications, signing a memorandum of understanding with Hypercraft, a U.S. company based in Provo, Utah, at the end of September. Hypercraft develops products such as unmanned ground vehicles. Deutz will contribute its extensive experience relating to engines, hybrid-electric systems, and the scaled integration of defense vehicles. Together, the two companies intend to develop innovative and reliable solutions for defense customers worldwide. Hypercraft will provide access to its network of military customers so that it can participate in the definition of operational requirements and test new Deutz products for the U.S. market.

Deutz continues to anticipate that it will achieve revenue of between €2.3 billion and €2.5 billion in 2026. Given that the acquisition of FFG has now been completed, the company expects its adjusted EBIT margin to reach the upper end of the forecast range of 6.5 percent to 8.0 percent. Free cash flow excluding M&A expenditure is still predicted to be in the high-double-digit millions of euros.