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Ad-Hoc

Dürr Aktiengesellschaft: Dürr increases order intake in the second quarter

Dürr Aktiengesellschaft / Half Year Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------Results for the first half of 2009Dürr increases order intake in the second quarter- Requests for quotation pick up- Positive EBIT despite sales decline, optimization measures take effect- Cash flow improved in the second quarterBietigheim-Bissingen, August 6, 2009 - The Dürr Group saw demand pick upin the second quarter of 2009. At EUR 298.4 million, incoming orders weremore than 40% higher than in the two preceding quarters. Sales revenues inthe first six months fell to EUR 571.5 million (-24%) as there werecustomer-induced delays in the execution of orders and declines inshort-term services and spare parts business. EBIT was also positive in thesecond quarter and came to EUR 6.1 million in the first six months (H12008: EUR 24.6 million). That includes one-time expenses of EUR 3.5 million(H1 2008: EUR 0 million) for restructurings and a write-off as a result ofthe Chrysler insolvency. In a difficult market environment Dürr is solidlyfinanced, with cash and cash equivalents of EUR 64 million andapproximately EUR 400 million of unutilized credit and guarantee lines.Ralf Dieter, Dürr AG's CEO, commented: 'In the second quarter we managedto win several large paint systems orders, and the smaller-volume businessin mechanical engineering products also picked up. To further expand ourleading position in the market we are continuing to invest in new productsalso in the present environment and are stepping up our R&D spending.'Orders on hand were worth EUR 844.5 million as of June 30, 2009, after EUR817.8 million in the first quarter. As a result of measures to reduce networking capital cash flow from operating activities improved by EUR 23million year over year in the second quarter of 2009. Net financial debtamounted to EUR 104.5 million as of June 30, 2009. At 32.9%, the equityratio remained above 30%.Dürr's CFO Ralph Heuwing commented: 'The cost-cutting measures alreadyinitiated in 2008 are taking effect: personnel expenses were reduced byabout 7% year over year, and interest payments by 30%.' About 300 jobs havebeen cut since the fourth quarter of 2008, mainly in France and the USA,and the number of leased workers was reduced by 320. The workforceadjustments will be continued in the second half of the year, mainlyabroad. Another roughly 350 job cuts are planned, and there will also befurther reductions in the number of leased workers.OutlookThe macroeconomic environment remains uncertain. A reliable forecast forthe full year is therefore still extremely difficult. Positive for Dürr isthat automobile manufacturers have not abandoned important investmentprojects, but have only postponed them. From today's vantage point, Dürrexpects incoming orders to exceed sales revenues in 2009, therefore orderson hand should be above last year's level. Sales revenues will fall by upto one-fourth due to project delays. However, Dürr estimates that EBITbefore restructuring costs (up to EUR 9 million) will be in the region ofEUR 20 to 30 million.
KEY FIGURES Dürr Group (IFRS, continuingoperations)in EUR million                              H1      H1       Q2        Q2                                          2009     2008     2009      2008Incoming orders                           506.8    876.1   298.4     358.3Orders on hand (June 30)                  844.5  1,172.7   844.5   1,172.7                                                                      Sales revenues                            571.5    752.7   262.0     396.5Restructuring costs                         2.8      0.0     1.5       0.0EBITDA (earnings before financial result,  16.4     33.5     6.6      18.7taxes, depreciation and amortization)EBIT (earnings before financial result      6.1     24.6     1.4      14.2ans taxes)Earnings after tax                         -6.6     10.8    -7.1       6.3Earnings per share (in EUR)                -0.42    0.63   -0.43      0.36Cash flow from operating activities       -37.8     -7.5    -5.5     -28.5Free cash flow                            -51.9    -24.7    -9.6     -32.8Capital expenditure                        15.0      8.1    10.9       4.4Balance sheet total (June 30)             989.3  1,141.5   989.3   1,141.5                                                                      Equity (with minority interests)          325.9    294.5   325.9     294.5(June 30)Equity ratio (June 30) in %                32.9     25.8    32.9      25.8Net working capital (June 30)             168.8    127.2   168.8     127.2Net financial debt (June 30)              104.5     89.0   104.5      89.0Employees (June 30)                       5,906*   6,044   5,906*    6,044
Paint and AssemblySystems Divisionin EUR million                     H1 2009    H1 2008   Q2 2009    Q2 2008Incoming orders                     376.0     641.8     232.0       255.4Sales revenues                      407.1     555.3     183.8       286.5EBIT                                 11.5      18.9       3.4         9.8Employees (June 30)                 3,433     3,560     3,433       3,560Measuring and ProcessSystems DivisionIncoming orders                     130.7      234.3     66.3       103.6Sales revenues                      164.4      197.3     78.2       109.9EBIT                                 -3.1        8.0     -0.9         5.7Employees (June 30)                 2,427      2,437     2,427      2,437
*Compared to H1 2008 99 employees were added by the first-timeconsolidation of two companiesImmaterial variances may occur in the computation of sums and percentagesdue to rounding.
Information and Explaination of the Issuer to this News:The Dürr Group is a supplier of plant and equipment that commands leadingglobal market positions in its areas of activity. Business with theautomotive industry accounts for about 85% of its sales. Dürr alsosupplies innovative manufacturing and environmental technologies for theaircraft, mechanical engineering, chemical and pharmaceutical industries.The Dürr Group operates in the market through two divisions. The Paint andAssembly Systems division supplies production and painting technologies,mainly for automotive body & chassis manufacturing. The equipment andsystems supplied by the Measuring and Process Systems division are used,among other things, for engine and transmission production and for finalvehicle assembly. Dürr is present in 44 locations in 20 countries aroundthe world. The Group achieved sales of EUR 1.6 billion with approximately6,100 employees in 2008.Kontakt:Dürr AGGünter Dielmann/Mathias ChristenCorporate Communications & Investor RelationsTel +49 7142 78-1785/-1381Fax +49 7142 78-1716  E-Mail corpcom@durr.com 06.08.2009  Financial News transmitted by DGAP---------------------------------------------------------------------- Language:     EnglishIssuer:       Dürr Aktiengesellschaft              Carl-Benz-Str. 34              74321 Bietigheim-Bissingen              DeutschlandPhone:        07142 78-1785Fax:          07142 78-1716E-mail:       investor.relations@durr.comInternet:     www.durr.comISIN:         DE0005565204WKN:          556520Indices:      SDAXListed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;              Freiverkehr in Berlin, Hannover, Düsseldorf, München,              Hamburg End of News                                     DGAP News-Service