Cologne, Germany-based engine manufacturer Deutz continued its strong business performance with operating profit of €18.2 million (about U.S. $25.7 million), compared to $700,000 in the first quarter of 2010. First-quarter net income was €13.7 million the company’s highest first quarter net income in 10 years.
New orders in the first quarter totaled €408.5 million (about U.S. $576.2 million), compared with €312 million in the year-ago quarter, an increase of 30 percent. Total number of engines sold was 48,416 units, compared with 33,784 engines a year ago, a 43.3-percent year-over-year increase.
“With plenty of orders on the books, Deutz has made an outstanding start to the year,” said Dr. Helmut Leube, chairman of the board of management of Deutz AG. “We reported a record level of first-quarter operating profit, and for the first time since 2008, we generated net income after tax and interest for the first three months of the year. This impressive performance is in line with our optimistic forecast for 2011.”