Dürr expects to reach sales of € 3.9 to 4.1 billion in 2019. Order intake should be in a range of € 3.8 to 4.1 billion. The EBIT margin before extraordinary effects is expected to reach 6.0 to 6.5 %. From today's perspective, the EBIT margin should reach between 4.4 to 4.9%.
|.||Actual 2018||Forecast for 2019|
|Order intake||€ m||3,930.9||3,800 - 4,100|
|Orders on hand (December 31)||€ m||2,577.2||2,400 - 2,900|
|Sales revenues||€ m||3,869.8||3,900 - 4,100|
|EBIT margin||%||6.0||4.4 - 4.9|
|EBIT margin before extraordinary effects||%||7.1||6.0 - 6.5|
|ROCE||%||24.0||12 - 17|
|Net finance expense||€ m||-13.8||deterioration|
|Tax rate||%||25.6||27 - 28|
|Earnings after tax||€ m||163.5||115 - 130|
|Cash flow from operating activities||€ m||162.3||below the previous year|
|Free cash flow||€ m||78.4||below the previous year|
|Net financial status (December 31)1||€ m||32.3||-180 - -130|
|Liquidity (December 31)||€ m||655.0||740 - 790|
|Capital expenditure2||€ m||74.4||95 - 105|
|1 Due to the first-time implementation of IFRS 16 "Leases", a negative effect of around € 99 m was felt on the net financial status in 2019.|
2 in property, plant and equipment and intangible assets (excluding acquisitions)
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: October 2019
- IFRS 16 (Leases), first-time application in 2019: The impact of the new standard is visible in the consolidated statement of financial position, in the consolidated statement of income and in the cash flow statement. Total balance sheet increased by € 88 m due to the integration of operating leases. Equity declined by € 7 m and financial liabilities increased by € 99 m. IFRS 16 caused a charge of € 2.0 m within the financial result in the first nine months of 2019, whereas EBIT improved by a similar amount. There was a positive effect on EBITDA and cash flow of around € 23 m in the first nine months of 2019; free cash flow was not affected.
Dürr intends 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 (“Dürr”). 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 Dürr's disclosures, in particular in the chapter “Risks” in Dürr's annual report. 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 Dürr 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 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). Dürr's net assets, financial position and results of operations 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 can be found in our financial glossary on the Dürr webpage.