PRESS RELEASE
from DEUTZ AG (ETR:DEZ)
Original-Research: DEUTZ AG (von Quirin Privatbank Kapitalmarktgeschäft): BUY
Original-Research: DEUTZ AG - from Quirin Privatbank Kapitalmarktgeschäft
06.08.2026 / 14:01 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.
Classification of Quirin Privatbank Kapitalmarktgeschäft to DEUTZ AG
| Company Name: | DEUTZ AG |
| ISIN: | DE0006305006 |
| Reason for the research: | Update |
| Recommendation: | BUY |
| from: | 06.08.2026 |
| Target price: | 14 |
| Last rating change: | |
| Analyst: | Daniel Kukalj, CIIA,CEFA |
New mid-term guidance around the corner
DEUTZ delivered a strong first half: order intake +28.7% to EUR 1,331.3m, revenue +10.7% yoy to EUR 1,115.3m, adjusted EBIT +43.1% yoy to EUR 79.7m for an adjusted EBIT margin of 7.1% (H1 2025: 5.5%). Q2 alone confirms the run-rate: revenue EUR 585.3m (+13.0%) and adjusted EBIT EUR 42.4m (+40.9%) at a 7.2% margin. The 2026 guidance (revenue EUR 2.3-2.5bn, adjusted EBIT margin 6.5-8.0%) was confirmed and, with H1 already at 7.1%, looks set to land in the upper half of the corridor. More importantly, the mid-term targets for 2028 (revenue EUR 3.2-3.4bn, EBIT margin 8-9%) continue to gain operational substance: Engines has swung decisively above breakeven, Energy has been structurally enlarged by Frerk (and now Maxi Trust Power), and Defense is being built into a stand-alone pillar via the pending FFG acquisition. Two things now dominate the equity story alongside the operations: the EUR 1.6bn takeover of FFG Flensburger Fahrzeugbau (EGM vote on 24 August) and a sharp swing in cash flow and leverage. We confirm our Buy rating and our EUR 14 price target, derived from our ROE/COE valuation approach.
You can download the research here: DEUTZ_AG_20260806
For additional information visit our website: https://research.quirinprivatbank.de/
Contact for questions:
Quirin Privatbank AG
Institutionelles Research
Schillerstraße 20
60313 Frankfurt am Main
research@quirinprivatbank.de
https://research.quirinprivatbank.de/
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2378728 06.08.2026 CET/CEST