March 2, 2020 / 7:08 PM / a month ago

Deutz warns revenue in 2020 to fall by double-digit amount

FRANKFURT, March 2 (Reuters) - German diesel engine manufacturer Deutz AG on Monday warned its business would fall in 2020 due to a slump in demand for engines, and said the spread of the coronavirus may impact its supply chain.

Deutz said it expects the year-on-year fall in revenue in 2020 to be in the low double-digit percentage range.

Deutz said it expects a decline in operating margin relative to the prior year figure in the mid double-digit percentage range.

“The main reason for this is the downturn in key customer industries as a result of economic conditions. This led to a low level of orders on hand at the end of 2019, a situation that is continuing this year,” Deutz said.

Deutz said it could no longer exclude the possibility of its business and its supply chain being affected by the outbreak of coronavirus. (Reporting by Edward Taylor Editing by Chizu Nomiyama)

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