Engine manufacturer Deutz warns of a slower recovery

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Cologne (dpa) - The engine manufacturer Deutz is preparing its investors for a slower business recovery.

The SDax Group had previously forecast an increase in sales to two billion euros and a return on operating profit (EBIT) before special items of 7 to 8 percent for 2022.

Now Deutz does not expect this until 2023 or 2024. The Deutz share fell after the hours.

The corona crisis is leading to a significant decline in the engine business in the current financial year, it said.

Customers are likely to be reluctant to invest longer than expected.

For 2021 Deutz expects at least a balanced operating result.

Deutz intends to give a more precise forecast on March 18 when the business figures are presented.

For the current financial year, Deutz is still making no forecast.

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