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Ad-Hoc

Dürr Aktiengesellschaft: Dürr well equipped for a more difficult environment after a strong 2008

Dürr Aktiengesellschaft / Preliminary 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.----------------------------------------------------------------------Preliminary results 2008 Dürr well equipped for a more difficult environment after a strong 2008- High gross margin in Q4 2008 - Group net profit in 2008 rises to EUR 46 million and allows dividendproposal of 70 cents per share- Order backlog and service business support sales generation in 2009Stuttgart, February 19, 2009 - On the basis of preliminary figures the DürrGroup's sales revenues grew to EUR 1,603 million in 2008. Adjusted for thedeliberate reduction in assembly conveyor business, this was an increase of14%. EBIT was up 30% to EUR 73 million. This includes last earnings burdensin the assembly conveyor business. Group net profit rose to EUR 46 million(2007: EUR 22.2 million). This will enable a dividend of 70 cents per shareto be proposed (2007: 40 cents).Adjusted for the assembly conveyor business, incoming orders declined yearover year by 14% to EUR 1,464 million. The decline was mainly due to thefact that in December 2008 ready to sign paint systems orders worth aroundEUR 200 million were postponed to the first half of 2009 by the automobileindustry. On the other hand, the mechanical engineering division, Measuringand Process Systems, booked 4% more orders than in 2007.Despite the project postponements at the end of the year cash flow waspositive to the tune of EUR 31 million. Net financial debt amounted to EUR34 million as of December 31, 2008, a reduction of EUR 26 million year overyear. At 31%, the equity ratio exceeded the targeted level of 30% (December31, 2007: 23.9%). At the end of 2008 Dürr had orders on hand worth EUR 925million. This cushion, equivalent to 7 months' sales, and the stable,shorter-term service business will support sales generation in 2009. Thenumber of employees rose by 207 to 6,143 (+3%) in 2008. 251 new jobs werecreated in the emerging markets. In addition, a foreign company with 68employees was consolidated for the first time.Dürr reacted immediately to the project postponements in December, amongother things by running down working time accounts and reducing capacities.Over 200 jobs will be cut in France and the US by the end of March 2009.The number of temporary external workers is being reduced, and short-timeworking is being introduced at some locations.OutlookBased on the projects currently under negotiation Dürr expects moderatedeclines in business volume and earnings in 2009. The considerableuncertainties in the automobile industry do not allow an exact forecast atthe present time. However, Dürr expects that the automobile industry willcontinue with its investments in strategically important markets and inrationalization. With energy-saving innovations such as the EcoDryScrubberspray booth concept Dürr can make an important contribution to helpcustomers cut costs. The steady service and revamp business, whichaccounted for 25% of sales revenues in 2008, is being further expanded. Thestrengthened equity base and the credit facilities that are firmlycommitted until into the year 2011 provide a solid financing basis.The full annual financial statements for 2008 will be presented at theannual press conference on March 18 in Stuttgart after they have beenapproved by the Supervisory Board.
in EUR m                                            2008   2007   Change in                                                                  %Incoming orders                                   1,464  1,782  -18Orders on hand (Dec. 31)                          925    1,083  -15Sales revenues                                    1,603  1,477  +9EBIT (earnings before interest, investment income 73     56     +30and taxes)Group net profit                                  46     22     +109Net profit from continuing operations             34     21     +62Cash flow from operating activities               31     86     -64Equity with minority interests (Dec. 31)          341    257    +33Net financial debt (Dec. 31)                      34     61     -Employees (Dec. 31)                               6,143  5,936  +3
All figures relate to the continuing operations. Group net profit is anexception and also includes discontinued operations. The figures in thispress release are preliminary and have not been approved by the SupervisoryBoard or audited by the external auditor.
Information and Explaination of the Issuer to this News:Ralf Dieter, Dürr AG's CEO, commented: 'We achieved almost all our targetsin 2008 despite the worsening conditions at the end of the year. The grossmargin of over 19% in the fourth quarter was the highest for some years.This shows that Dürr is in lean and efficient shape. We are equipped forthe downswing but are still watching the market very closely.'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 also suppliesinnovative manufacturing and environmental technologies for the aircraft,mechanical engineering, chemical and pharmaceutical industries. The DürrGroup operates in the market through two divisions. The Paint and AssemblySystems division supplies production and painting technologies, mainly forautomotive body & chassis manufacturing. The equipment and systems suppliedby the Measuring and Process Systems division are used, among other things,for engine and transmission production and for final vehicle assembly. Dürrachieved sales of EUR 1.6 billion with approximately 6,143 employees in2008. Dürr is present in 47 locations in 21 countries around theworld.Ansprechpartner:Dürr Aktiengesellschaft Günter Dielmann / Mathias ChristenCorporate Communications & Investor RelationsTel +49 (0)711 136-1785 / -1381Fax +49 (0)711 136-1716 E-Mail corpcom@durr.com 19.02.2009  Financial News transmitted by DGAP---------------------------------------------------------------------- Language:     EnglishIssuer:       Dürr Aktiengesellschaft              Otto-Dürr-Strasse 8              70435 Stuttgart - Zuffenhausen              DeutschlandPhone:        +49 (0)711 136-0Fax:          +49 (0)711 136-1034E-mail:       investor.relations@durr.comInternet:     www.durr.comISIN:         DE0005565204WKN:          556520Indices:      SDAXListed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;              Freiverkehr in Berlin, Hannover, Hamburg, Düsseldorf, München End of News                                     DGAP News-Service