Dürr achieves strong growth in the first six months and raises forecast for 2011

Dürr AG - WKN 556520 / ISIN DE0005565204

July 20, 2011 – On the basis of preliminary figures, Dürr increased its consolidated group sales by 51% year over year to € 783 million in the first six months of 2011. EBIT rose to € 32 million (H1/2010: € 1.1 million). Incoming orders were up 63% to € 1,200 million. These results exceed the company’s and the capital market’s previous expectations.

Dürr expects the positive development to continue in the second half of the year and now forecasts growth of about 20% in incoming orders to almost € 2 billion for the full year 2011. The previous guidance had been for growth of 5%. Dürr is also raising its earnings forecast for 2011. An EBIT margin of 4.0 to 4.5% is now targeted after the 3.5 to 4.0% previously forecast. The sales guidance has been upped to € 1.75 billion after it had already been raised to € 1.65 billion at the beginning of June.
The main reasons for the better-than-expected development are the continued strong global demand from the automotive industry and the high level of capacity utilization and resulting scale effects.

All the figures are preliminary and have not been audited. Dürr will be releasing the final results for the second quarter and the first six months of 2011 together with the overall outlook for the full year on August 4, 2011.