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 and digitalization/Industry 4.0. Its products, systems and services enable highly efficient manufacturing processes in different industries. The Dürr Group supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical and woodworking industries. It generated sales of € 3.92 billion in 2019. The company has around 16,500 employees and 112 business locations in 34 countries. The Group operates in the market with the brands Dürr, Schenck and HOMAG and with five divisions.
Mid-term strategy
Our mid-term strategy is the roadmap for profitable growth and for raising earnings to a top level in the international mechanical and plant engineering sector. The new strategy is linked to medium-term targets for four key indicators:
- High profitability: The EBIT margin is to widen gradually to at least 8%.
- Sales growth: +2 to 3% p.a.
- Attractive return on capital: ROCE at least 25%
- Increase in the proportion of service business: Service business with its larger margins is to account for up to 30% of Group sales.
In order to achieve our goals and expand our leading position in the world market, we are continuing to push ahead with digitalization (digital@DÜRR) as a central strategic element. In addition, we are positioning ourselves to optimum effect in four strategic fields: global presence, innovation, efficiency, lifecycle 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 organization and people development.
Consensus Estimates 2020/2021
(as of June 18, 2020)
| 2021e | 2020e | 2019 | 2018 | ||
|---|---|---|---|---|---|
| Sales | € m | 3,571 | 3,389 | 3,922 | 3,870 |
| EBITDA (reported) | € m | 295 | 203 | 308 | 327 |
| EBIT (reported) | € m | 195 | 94 | 196 | 234 |
| Net profit | € m | 107 | 40 | 120 | 164 |
| Earnings per share | € | 1.70 | 0.62 | 1.79 | 2.27 |
| Dividend per share | € | 0.65 | 0.20 | 0.80 | 1.00 |
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 installed base increased through market share gains and is the starting point for a growing and profitable service business.
Market Positioning:
Very good geographic positioning: About 40 to 50% of the business volume comes from emerging markets. Round 30% of the employees operate in these markets. No competitor has a similar market standing in these growing regions.
Growth:
Organic growth is expected to reach 2 to 3% over the next few years. In addition, over the long term further acquisitions are expected to contribute to the expansion after the acquisitions of the HOMAG Group AG in 2014 as well as Megtec/Universal in 2018.
Technology Leader:
We address the necessary reduction of costs per unit with its technologies - be it by lower energy and material consumption or by enhanced environmental compatibility.
Industry 4.0 / digital@DÜRR:
The Dürr Group, as a plant and mechanical engineering specialist, wants to retain its position at the market vanguard in the digital era. We are driving forward the digitization of our products, services and processes under digital@DÜRR.
Value Creation:
Since 2011, ROCE again exceed the cost of capital significantly - thus Dürr continuously creates value. Return on capital employed was 16.9% in 2019, the cost of capital accounted for 8.4%.
Continuity:
2010-2017 continuous improvement of earnings and payout.
2018-2020 transition years due to increasing uncertainty in the worldwide economy and Covid-19.
Incoming orders 2019: € 4,077 m
Sales revenues 2019: € 3,922 m
Key figures
| FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | |||
| Incoming orders | € m | 4,076.5 | 3,930.9 | 3,803.0 | 3,701.7 | 3,467.5 | 2,793.0 | 2,387.1 | 2,596.8 | |
|
Orders on hand (December 31) | € m | 2,742.8 | 2,577.2 | 2,449.4 | 2,568.4 | 2,465.7 | 2,725.3 | 2,150.1 | 2,316.8 | |
| Sales | € m | 3,921.5 | 3,869.8 | 3,713.2 | 3,573.5 | 3,767.1 | 2,574.9 | 2,406.9 | 2,399.8 | |
| EBITDA | € m | 308.5 | 326.9 | 367.7 | 360.3 | 348.2 | 262.9 | 230.4 | 205.4 | |
| EBIT | € m | 195.9 | 233.5 | 287.0 | 271.4 | 267.8 | 220.9 | 203.0 | 176.9 | |
| Financial result | € m | -21.2 | -13.8 | -19.8 | -13.3 | -23.3 | -16.2 | -18.4 | -29.2 | |
| Interest cost | € m | 33.4 | 27.5 | 27.7 | 26.5 | 33.5 | 26.4 | 22.8 | 32.6 | |
| Net income / loss of the Dürr Group | € m | 129.8 | 163.5 | 199.6 | 187.8 | 166.6 | 150.3 | 140.9 | 111.4 | |
|
Total asset (December 31) | € m | 3,882.3 | 3,614.4 | 3,511.6 | 3,348.5 | 2,986.7 | 2,976.1 | 1,991.8 | 1,807.7 | |
|
Equity (incl. minority interests) (December 31) | € m | 1,043.4 | 992.2 | 900.5 | 831.0 | 714.4 | 725.8 | 511.4 | 432.1 | |
|
Equity ratio (December 31) | % | 26.9 | 27.4 | 25.6 | 24.8 | 23.9 | 24.4 | 25.7 | 23.9 | |
| FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | |||
|
Net financial position (December 31) | € m | -99.3 | 32.3 | 176.3 | 176.5 | 129.4 | 167.8 | 280.5 | 96.7 | |
|
Net working capital (December 31) | € m | 502.7 | 441.4 | 373.7 | 194.4 | 236.8 | 87.6 | -33.1 | 98.6 | |
| Gearing (Net financial debt/Net financial debt + Equity) (December 31) | % | 8.7 | -3.4 | -24.3 | -27.0 | -22.1 | -30.1 | -121.5 | -28.8 | |
| Net financial debt/EBITDA | 0.3 | - | - | - | - | - | - | - | ||
|
EBT/Interest expense (interest coverage ratio) | 5.2 | 15.9 | 13.4 | 13.7 | 10.7 | 12.6 | 10.7 | 6.0 | ||
|
Cash ratio (December 31) | % | 37.1 | 35.7 | 36.2 | 50.0 | 26.4 | 32.6 | 42.4 | 35.9 | |
| ROCE (EBIT/Capital employed) | % | 16.9 | 24.0 | 38.6 | 41.1 | 45.3 | 38.7 | 76.2 | 47.4 | |
| EVA | € m | 39.5 | 76.0 | 142.7 | 142.5 | 146.2 | 121.6 | 124.3 | 99.3 | |
|
Employees (December 31) | 16,493 | 16,312 | 14,974 | 15,235 | 14,850 | 14,151 | 8,142 | 7,652 | ||
|
Excerpt of non-financial key figures (data in relation to sales; 2010 = 100) | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | ||
| Energy consumption | 61.2 | 55.5 | 60.8 | 66.2 | 61.6 | 56.7 | 56.5 | 54.8 | ||
| CO2 emissions | 71.9 | 66.4 | 70.7 | 73.8 | 69.1 | 60.5 | 57.9 | 57.0 | ||
| Water consumption | 84.5 | 85.3 | 92.1 | 84.4 | 83.6 | 93.0 | 84.9 | 77.4 |