COLOGNE (dpa-AFX) - The weakening economy has caused demand at engine manufacturer Deutz to plummet in the first quarter. Order intake fell by almost a fifth to 419.2 million euros, as the SDax-listed company announced in Koln on Tuesday. Turnover fell by 10.3 percent to 454.7 million euros. At 38,242 engines, Deutz sold a good 17 percent fewer than in the same period last year. Nevertheless, Deutz confirmed its forecasts for the year.

Adjusted earnings (EBIT before special items) slumped by around a quarter to 27.7 million euros at the start of the year. The corresponding return fell from 7.3 to 6.1 percent. Consolidated earnings from continuing and discontinued operations amounted to 8.8 million euros, compared to 23.8 million euros in the same quarter of the previous year. At the beginning of April, Deutz sold its boat motor subsidiary Torqeedo to the Japanese supplier Yamaha Motor, which is expected to result in a book profit in the lower double-digit million euro range. Torqeedo had recently weighed on Deutz's figures./niw/stk