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    DEZ   DE0006305006

DEUTZ AG

(DEZ)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 12/02 04:00:02 pm
6.198 EUR   -0.67%
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DEUTZ : ends €150 million KfW credit line early

09/07/2021 | 02:12am EST

07/09/2021

DEUTZ ends €150 million KfW credit line early
  • Credit line was not used at any time
  • Credit facility from banks expanded by €75 million

Cologne, September 7, 2021 - In light of its improved business situation, DEUTZ has ended the €150 million credit line early that was granted to it with the assistance of Germany's KfW development bank. The term of the 'COVID-19 tranche' would have originally lasted until November 2021.

In addition to the existing syndicated loan of €160 million with a term until June 2024, DEUTZ has secured further credit lines totaling €75 million from three banks on standard commercial terms for a duration of 18 months.

The Company is currently making only limited use of the available credit facility. The COVID-19 tranche provided by KfW was not used by DEUTZ at any point.

'The credit lines available to us, which have now been expanded, provide us with sufficient financial headroom. This has put us in a position where we can end the COVID-19 tranche early. The significant improvement in our earnings situation that we anticipate in the 2021 annual accounts will allow us to restructure our long-term financing arrangements next year,' says Dr. Sebastian C. Schulte, CFO of DEUTZ AG.

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Deutz AG published this content on 07 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 September 2021 06:11:08 UTC.


© Publicnow 2021
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Sales 2021 1 639 M 1 853 M 1 853 M
Net income 2021 31,6 M 35,7 M 35,7 M
Net Debt 2021 46,6 M 52,6 M 52,6 M
P/E ratio 2021 23,6x
Yield 2021 1,40%
Capitalization 750 M 848 M 848 M
EV / Sales 2021 0,49x
EV / Sales 2022 0,41x
Nbr of Employees 4 701
Free-Float 100%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 6,21 €
Average target price 9,18 €
Spread / Average Target 47,9%
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Frank Hiller Chairman-Management Board & Head-Technical
Sebastian C. Schulte CFO, Head-Human Resources & Information Services
Bernd Bohr Chairman-Supervisory Board
Markus Schwaderlapp Head-Research & Development
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