In response to the effects of the COVID 19 pandemic, we have adopted far-reaching efficiency measures, which have also been included in the forecast issued on July 29, 2020. We will be providing an outlook for the individual divisions when we publish our 9-month figures on November 5, 2020.
We expect order intake, sales and operating EBIT to be higher in the second half of 2020 than in the first half. As things currently stand, we project order intake of € 3,100 - 3,400 million and sales of € 3,200 - 3,400 million for 2020 as a whole. The operating EBIT margin should reach 2.5 - 2.8%. The improved performance expected in the second half of the year will be underpinned by the assumed growth in sales, the pick-up in service business and the absence of many of the lockdown measures that impeded our business in the second quarter. However, this improvement is predicated upon the absence of a second corona wave with massive lockdown measures similar to those witnessed in the first half of the year.
Original forecast for 2020, suspended on |
March 30, 2020
|New forecast for 2020|
|Order intake||€ m||4,076.5||3,800 - 4,100||3,100 - 3,400|
|Sales||€ m||3,921.5||3,900 - 4,100||3,200 - 3,400|
|EBIT margin||%||5.0||5.2 - 5.7||0 - 0.5|
|EBIT margin before extraordinary effects||%||6.7||6.2 - 6.7||2.5 - 2.8|
|ROCE||%||16.9||17 - 22||0 - 1.5|
|Earnings after tax||€ m||129.8||135 - 150||-40 - -10|
|Cash flow from operating activities||€ m||171.9||180 - 230||70 - 120|
|Free cash flow||€ m||44.9||70 - 120||-40 - 10|
|Net financial status (December 31)||€ m||-99.3||-80 - -30||-230 - -180|
|Capital expenditure (net of acquisitions)||€ m||102.6||95 - 105||75 - 85|
As a supplier of production lines, in particular for the automotive as well as the furniture industry, the Dürr Group depends on the investment behavior of the manufacturer. This is largely determined by the expected production in the coming years.
in m units1
1 Light vehicles production
Source: LMC Automotive
Last Update: July 2020
Dürr intends in principle to distribute 30 to 40% of net income.
* All data was adapted after corporate action (bonus shares) for better comparability.
This publication has been prepared independently by Dürr AG/Dürr group. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in disclosures of Dürr AG, in particular in the chapter “Risks” in the annual report of Dürr AG. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of the Dürr group may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr AG neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.
Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Net assets, financial position and results of operations of the Dürr group should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr AG can be found in our → financial glossary on the web page.