Factsheet of the Dürr Group
The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation, digitalization and energy efficiency. Its products, systems and services enable highly efficient and sustainable manufacturing processes in different industries. The Dürr Group primarily supplies the automotive industry, producers of furniture and timber houses as well as the chemical, pharmaceutical, medical devices and electrical engineering sectors. It generated sales of €4.3 billion in 2022. The company has about 18,500 employees and 123 business locations in 32 countries. The Dürr Group operates in the market with the brands Dürr, Schenck and HOMAG and with five divisions.
Mid-term strategy
The current mid-term strategy provides the roadmap for profitable growth and for our evolution as a mechanical and plant engineering group that seizes opportunities in different market niches and customer segments. Our strategy is linked to four performance targets:
- 5 to 6% sales growth: By 2030, sales are expected to increase by an average of 5% to 6% and reach the new target of more than €6 billion.
- High profitability: The EBIT margin before extraordinary effects is expected to sustainably achieve at least 8% from 2024.
- Attractive return on capital: We are aiming for an ROCE of at least 25%, underpinned by high EBIT contributions from mechanical engineering and low capital employed in plant engineering.
- Increased share of service business: With its higher margins, service business is to consistently contribute at least 30% to Group sales.
In order to achieve our goals and expand our leading position in the world market, we continue to push ahead with digitalization (digital@DÜRR) as the central element of our strategy. In addition, we have identified four more strategic fields: global presence, innovation, efficiency and life cycle services. We have also defined four enablers, i.e. supporting functions that are particularly important for the successful implementation of our strategy: sustainability, mergers & acquisitions, finance management and people development.
Consensus Estimates 2022/2023/2024
(as of January 31, 2023)
| 2024e | 2023e | 2022e | 2021 | ||
|---|---|---|---|---|---|
| Sales | € m | 4,654 | 4,511 | 4,204 | 3,537 |
| EBIT (reported) | € m | 333 | 288 | 204 | 176 |
| Net profit | € m | 209 | 176 | 124 | 85 |
The Dürr share
Shareholder Structure Dürr AG (figures rounded)
Structure of the latest recommendations of analysts
Good reasons to be invested in Dürr
World Market Leader:
The Dürr Group is world market leader in about 95% of its product portfolio. Market entry barriers are high. Market shares range between 20 and 50%.
Service Potential:
The service business has above-average margins and makes a particularly significant contribution to customer loyalty. We are aiming to achieve a service share in Group sales of consistently at least 30%. To that end, we align our → service activities with the entire lifecycle of our machines and systems, benefitting from an increasing number of installed machines and systems.
Market Positioning:
Very good geographic positioning: About 40% to 50% of the business volume comes from emerging markets. Round 34% of the employees operate in these markets.
Growth:
We have set ourselves the goal of increasing sales by 5 to 6% per year to over € 6 billion in 2030.
Technology Leader:
With our technologies, we enable efficient production processes with a minimized environmental impact.
Industry 4.0 / digital@DÜRR:
The Dürr Group, as a mechanical and plant engineering firm, wants to retain its position at the market vanguard in the digital era. We are driving forward the digitalization of our products, services and processes under → digital@DÜRR.
High Profitability:
The EBIT margin is to sustainably achieve at least 8% from 2024. We consider this level to be appropriate due to the increased share of mechanical engineering in our portfolio.
Value Creation:
We are aiming for a ROCE of at least 25% from 2024, based on high EBIT contributions in mechanical engineering and low capital employed in plant construction.
Sustainability:
Our economic activities are consistent with ecological and social concerns as well as responsible corporate governance. Our Climate Strategy 2030 is working toward the achievement of the global 1.5-degree target and has been validated by the Science Based Target initiative (SBTi). With our products, we enable resource-saving manufacturing processes.
→ Sustainability in the Dürr Group
Down to Earth:
In 2021, the Dürr Group celebrated its → 125th anniversary. The company has developed from a workshop into a global corporation. At the same time, we have preserved the spirit of a typical “Mittelstand” company: Our employees have a sense of reliability and quality, they react quickly to changes and take decisive action. Just as customers would expect from a ”Mittelstand” company. The hierarchies are flat, the paths short — and everyone pitches in. Even today, the founding Dürr family still holds more than 25% of the company.
Incoming orders 2022: € 5,008 m
Sales revenues 2022: € 4,314 m
Key figures
| FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | |||
| Incoming orders | € m | 5,008.4 | 4,291.0 | 3,283.2 | 4,076.5 | 3,930.9 | 3,803.0 | 3,701.7 | 3,467.5 | 2,793.0 | |
|
Orders on hand (December 31) | € m | 4,014.0 | 3,361.0 | 2,556.7 | 2,742.8 | 2,577.2 | 2,449.4 | 2,568.4 | 2,465.7 | 2,725.3 | |
| Sales | € m | 4,314.1 | 3,536.7 | 3,324.8 | 3,921.5 | 3,869.8 | 3,713.2 | 3,573.5 | 3,767.1 | 2,574.9 | |
| EBITDA | € m | 337.5 | 299.4 | 125.3 | 308.5 | 326.9 | 367.7 | 360.3 | 348.2 | 262.9 | |
| EBIT | € m | 205.9 | 175.7 | 11.1 | 195.9 | 233.5 | 287.0 | 271.4 | 267.8 | 220.9 | |
| Financial result | € m | -17.8 | -43.1 | -29.7 | -21.2 | -13.8 | -19.8 | -13.3 | -23.3 | -16.2 | |
| Interest cost | € m | 30.6 | 51.0 | 39.7 | 33.4 | 27.5 | 27.7 | 26.5 | 33.5 | 26.4 | |
| Net income / loss of the Dürr Group | € m | 134.3 | 84.9 | -13.9 | 129.8 | 163.5 | 199.6 | 187.8 | 166.6 | 150.3 | |
|
Total asset (December 31) | € m | 4,530.9 | 4,153.6 | 3,878.8 | 3,882.3 | 3,614.4 | 3,511.6 | 3,348.5 | 2,986.7 | 2,976.1 | |
|
Equity (incl. minority interests) (December 31) | € m | 1,124.2 | 1,005.6 | 908.1 | 1,043.4 | 992.2 | 900.5 | 831.0 | 714.4 | 725.8 | |
|
Equity ratio (December 31) | % | 24.8 | 24.2 | 23.4 | 26.9 | 27.4 | 25.6 | 24.8 | 23.9 | 24.4 | |
| FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | |||
|
Net financial position (December 31) | € m | -46.4 | -99.5 | -49.0 | -99.3 | 32.3 | 176.3 | 176.5 | 129.4 | 167.8 | |
|
Net working capital (December 31) | € m | 415.9 | 427.9 | 382.6 | 502.7 | 441.4 | 373.7 | 194.4 | 236.8 | 87.6 | |
| Gearing (Net financial debt/Net financial debt + Equity) (December 31) | % | 4.0 | 9.0 | 5.1 | 8.7 | -3.4 | -24.3 | -27.0 | -22.1 | -30.1 | |
| Net financial debt/EBITDA | 0.1 | 0.3 | 0.4 | 0.3 | - | - | - | - | - | ||
|
EBT/Interest expense (interest coverage ratio) | 10.8 | 4.1 | 0.5 | 7.3 | 11.5 | 13.4 | 13.7 | 10.7 | 12.6 | ||
|
Cash ratio (December 31) | % | 29.2 | 27.9 | 35.7 | 37.1 | 35.7 | 36.2 | 50.0 | 26.4 | 32.6 | |
| ROCE (EBIT/Capital employed) | % | 17.3 | 15.5 | 1.1 | 16.9 | 24.0 | 38.6 | 41.1 | 45.3 | 38.7 | |
| EVA | € m | 18.3 | 38.8 | -66.0 | 39.4 | 76.0 | 142.7 | 142.5 | 146.2 | 121.6 | |
|
Employees (December 31) | 18,514 | 17,802 | 16,525 | 16,493 | 16,312 | 14,974 | 15,235 | 14,850 | 14,151 | ||
| Excerpt of non-financial key figures | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | ||
| Energy consumption1 | MWh per € m sales revenues | 30.9 | 36.1 | 37.4 | 33.6 | 30.7 | 33.6 | 36.7 | 34.1 | 28.4 | |
| Greenhouse gas emissions (Scope 1+2)1 | t CO2 equivalent per € m sales revenues | 6.3 | 13.7 | 14.8 | 14.5 | 15.8 | 16.9 | 17.6 | 16.5 | 13.0 | |
| Water consumption | m3 per € m sales revenues | 44.5 | 49.6 | 50.2 | 51.5 | 52.0 | 56.1 | 51.4 | 50.9 | 50.8 | |
| 1 2020 und 2019 figures adjusted due to recalculation based on Greenhouse Gas Protocol in 2021 | |||||||||||