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 digitization/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 € 3.87 billion in 2018. In October 2018, the Dürr Group acquired the industrial environmental technology business of US-based company Babcock & Wilcox, comprising the Megtec and Universal brands. Since then, it has around 16,500 employees and 108 business locations in 32 countries.

Strategy

Even in the age of digitization, Dürr intends to stay ahead of the competition. We are driving forward the digitization of our products, services and processes under the digital@DÜRR banner. As the core element of our strategy, digital@DÜRR has ramifications for the four strategic fields that accompany it. We are implementing digitization initiatives in all four segments and simultaneously working on further aspects critical for success, such as the optimization of our organizational structures and the development of technology.

The main thrusts of the individual strategic fields are:

  • Innovation: Internet of Things (IoT), smart factories, smart products, smart processes, automation; growing importance of sustainable products
  • Globalization: Further localization of manufacturing input in the emerging markets
  • Service: Smart services (e.g. predictive maintenance), customer relationship management, growth through optimized service provision to the installed base
  • Efficiency: Digital transformation of the value creation processes, process optimization

In addition, Dürr plans to tap into new areas of growth through acquisitions outside the automotive industry.

Consensus Estimates 2019/2020/2021

(as of December 04, 2019)

  2021e 2020e 2019e 2018
Sales € m 4,025 3,953 3,970 3,870
EBITDA €m 360 338 302 327
EBIT (stated) € m 260 238 202 234
Net profit € m 171 155 126 164
Earnings per share 2.37 2.14 1.72 2.27
Dividend per share 1.05 0.95 0.88 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 25 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. With the ADAMOS IIoT platform as well as with the digital marketplaces LOXEO and tapio we want to set standards for the engineering sector.

Value Creation:
Since 2011, ROCE again exceed the cost of capital significantly - thus Dürr continuously creates value. Return on capital employed was 24.0% in 2018, the cost of capital accounted for 9.0%.

Continuity:
2010-2017 continuous improvement of earnings and payout. 2018-2019 transition years due to increasing uncertainty in the worldwide economy.

Incoming orders 2018: € 3,931 m

Sales revenues 2018: € 3,870 m

Key figures

FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011
Incoming orders € m 3,930.9 3,803.0 3,701.7 3,467.5 2,793.0 2,387.1 2,596.8 2,684.9
Orders on hand
(December 31)
€ m 2,577.2 2,449.4 2,568.4 2,465.7 2,725.3 2,150.1 2,316.8 2,142.7
Sales € m 3,869.8 3,713.2 3,573.5 3,767.1 2,574.9 2,406.9 2,399.8 1,922.0
EBITDA € m 326.9 367.7 360.3 348.2 262.9 230.4 205.4 127.1
EBIT € m 233.5 287.0 271.4 267.8 220.9 203.0 176.9 106.5
Financial result € m -13.8 -19.8 -13.3 -23.3 -16.2 -18.4 -29.2 -20.7
Interest cost € m 27.5 27.7 26.5 33.5 26.4 22.8 32.6 26.8
Net income / loss of the Dürr Group € m 163.5 199.6 187.8 166.6 150.3 140.9 111.4 64.3
Total asset
(December 31)
€ m 3,614.4 3,511.6 3,348.5 2,986.7 2,976.1 1,991.8 1,807.7 1,661.0
Equity (incl. minority interests)
(December 31)
€ m 992.2 900.5 831.0 714.4 725.8 511.4 432.1 364.3
Equity ratio
(December 31)
% 27.4 25.6 24.8 23.9 24.4 25.7 23.9 21.9
FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011
Net financial position
(December 31)
€ m 32.3 176.3 176.5 129.4 167.8 280.5 96.7 51.8
Net working capital
(December 31)
€ m 441.4 373.7 194.4 236.8 87.6 -33.1 98.6 32.6
Gearing (Net financial debt/Net financial debt + Equity) (December 31) % -3.4 -24.3 -27.0 -22.1 -30.1 -121.5 -28.8 -16.6
Net financial debt/EBITDA - - - - - - - -
EBT/Interest expense
(interest coverage ratio)
15.9 13.4 13.7 10.7 12.6 10.7 6.0 5.0
Cash ratio
(December 31)
% 35.7 36.2 50.0 26.4 32.6 42.4 35.9 33.4
ROCE (EBIT/Capital employed) % 24.0 38.6 41.1 45.3 38.7 76.2 47.4 30.4
EVA € m 76.0 142.7 142.5 146.2 121.6 124.3 99.3 47.7
Employees
(December 31)
16,312 14,974 15,235 14,850 14,151 8,142 7,652 6,823
Additional off balance sheet information FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011
Tax loss carry forwards
(not balanced)
€ m 148.5 127.4 115.6 105.5 64.5 103.6 168.0 176.2
Operating leases
(minimum payments)
€ m 103.4 89.8 104.6 122.0 135.1 97.6 110.9 72.0
Excerpt of non-financial key figures
(data in relation to sales; 2010 = 100)
FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011
Energy consumption 55.5 60.8 66.2 61.6 56.7 56.5 54.8 66.6
CO2 emissions 66.4 70.7 73.8 69.1 60.5 57.9 57.0 66.9
Water consumption 85.3 92.1 84.4 83.6 93.0 84.9 77.4 79.1