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DEUTZ raises 2021 forecast

Cologne, September 13, 2021 – DEUTZ is raising its forecast for a second time in 2021, due to continued strong demand in all of the main application segments and a significantly improved earnings performance.

The company now anticipates unit sales of 155,000 to 170,000 DEUTZ engines[1] (previously: 140,000 to 155,000), which should result in an increase in revenue to between €1.6 billion and €1.7 billion (previously: €1.5 billion to €1.6 billion). The forecast for service revenue is unchanged at around €400 million of the total revenue figure. The EBIT margin before exceptional items is predicted to be in a range of 2.0 percent to 3.0 percent (previously: 1.0 percent to 2.0 percent). This raised forecast is based on the assumption that the ongoing difficulties with the supply of components will not worsen significantly in the coming months.

As a result of the improved operating performance, free cash flow is expected to break-even (previously: negative figure in the low double-digit millions of euros).

Further information on business performance will be provided on November 10, 2021 when the quarterly statement for the first to third quarter of 2021 is published.

[1] Excluding electric boat drives from DEUTZ subsidiary Torqeedo.

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