COLOGNE (dpa-AFX) - Engine manufacturer Deutz has closed 2023 with record figures for sales and operating profit. The company is cautious for the current year. It expects earnings of 1.9 to 2.1 billion euros in 2024, as Deutz announced in Koln on Tuesday. In the best-case scenario, the engine manufacturer expects turnover to remain at the previous year's level. Analysts expect a figure at the upper end of the forecast range. Adjusted for special effects, earnings before interest and taxes (EBIT) are expected to amount to 5.0 to 6.5 percent of turnover. In the previous year, the drive manufacturer achieved 5.7 percent, an increase of 1.1 percentage points.

In 2023, turnover grew by almost eight percent year-on-year to around 2.1 billion euros. Operating profit also increased by a good third to 120.4 million euros thanks to cost savings. At the bottom line, Deutz earned just over two percent more than in the previous year at 81.9 million euros. This was also due to higher financing costs and a slight increase in taxes. A dividend of 17 cents per share is to be paid out for the year. That would be two cents more than in the previous year./mne/jha/