Added to YB: 2026-08-27
Pitch date: 2026-08-25
DEZ.DE [neutral]
DEUTZ Aktiengesellschaft
+3.09%
current return
Author Info
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Company Info
DEUTZ Aktiengesellschaft engages in the development, production, distribution, maintenance, and servicing of diesel and gas engines in Germany, Rest of Europe, the Middle East, Africa, the Asia Pacific, and the United States.
Market Cap
EUR 1.6B
Pitch Price
EUR 11.65
Price Target
N/A
Dividend
1.74%
EV/EBITDA
12.08
P/E
20.10
EV/Sales
0.98
Sector
Machinery
Category
special_situation
Deutz (DEZ Germany): FFG acquisition brings the 2030 targets within immediate reach
DEZ.DE (update): €1.6bn FFG defence-vehicle acquisition pulls Deutz's 2030 targets forward several years; shareholders approved capital increase (99.7%), cartel clearance done, close late-2026/early-2027. Funding: ~€1bn cash/debt + ~65m new shares (153m→218m; founder families up to 29.9%) — dilutive but EPS-accretive pro-forma immediately given FFG's ~€760m '25 rev at >20% EBITDA margin vs Deutz ~8-10%. Defence rises from ~5% to ~32% of group rev; adj EBIT margin up toward ~20% for the division. Source ests 2027 rev €3.9bn, adj EBIT margin 11.9% (vs prior 2030 €4bn/~10%). FFG order book ~€1.9bn through 2032. Catalyst: updated medium-term framework + quantified synergies (TBD). Risks: large-deal integration (~37% of Deutz rev), higher debt/share count.
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