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Press Release

Dürr proposes dividend of € 1.00 per share

- Total payout of € 69.2 million planned

- Profit-sharing bonus for employees: € 2,250 at Dürr and Schenck,

€ 2,750 at HOMAG

- Management Board contract for Dr. Jochen Weyrauch extended

Bietigheim-Bissingen, March 21, 2019 – Dürr AG proposes a dividend of € 1.00 per share for fiscal 2018. The mechanical and plant engineering firm paid € 1.10 in the previous year. The reason for the dividend adjustment is that earnings after tax declined by 18.1 % in 2018, mainly due to high extraordinary expenses. The dividend proposal for the annual general meeting on May 10, 2019, was approved by the Supervisory Board today. In addition, the Supervisory Board has extended Dr. Jochen Weyrauch’s appointment as a member of the Dürr AG Board of Management until the end of 2024.

The earnings of the Dürr Group (€ 163.5 million after tax) were affected by extraordinary expenses amounting to € 41.4 million in 2018. These were mainly attributable to optimization measures designed to boost earnings and tap new growth potential. Among the measures are the FOCUS 2.0 optimization program, the discontinuation of the micro gas turbine business, and the acquisition of Megtec/Universal.

Ralf W. Dieter, CEO of Dürr AG: “We see the extraordinary expenses relating to the optimization measures as an investment in the future, which will lead to a sustained improvement in earnings from 2019 onward. Accordingly, the dividend is set to increase again in the coming year.”

The total payout amounts to € 69.2 million this year. The payout ratio, at 42 % of consolidated net profit, is higher than in the previous years; it usually ranges between 30 and 40 %. It must be borne in mind that the number of shares doubled to 69.2 million as a result of bonus shares being issued in a ratio of 1:1 in June 2018. This is why the previous year’s dividend is shown as € 1.10 per share as opposed to € 2.20.

Profit-sharing bonus for employees in Germany
The full-time pay-scale employees of the Dürr and Schenck sub-groups will receive a profit-sharing bonus of € 2,250 this year (previous year: € 2,750). At the HOMAG Group, which achieved record earnings in 2018, the bonus remains unchanged at € 2,750.

Dr. Jochen Weyrauch: Board management contract extended until the end of 2024
Dr. Jochen Weyrauch’s Board of Management appointment has been extended by five years until December 31, 2024. Dr. Jochen Weyrauch has been a member of Dürr’s four-strong Board of Management since the beginning of 2017. He is responsible for the business of the Paint and Final Assembly Systems, Application Technology, and Clean Technology Systems divisions as well as for the Corporate Development and Information Technology functions.

The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitization/Industry 4.0. Its products, systems and services enable highly efficient manufacturing processes in different industries. The Dürr Group supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical and woodworking industries. It generated sales of € 3.87 billion in 2018. In October 2018, the Dürr Group acquired the industrial environmental technology business of US-based company Babcock & Wilcox, comprising the MEGTEC and Universal brands. Since then, it has over 16,300 employees and 108 business locations in 32 countries. The Group operates in the market with five divisions:

  • Paint and Final Assembly Systems: paint shops and final assembly systems for the automotive industry
  • Application Technology: robot technologies for the automated application of paint, sealants and adhesives
  • Clean Technology Systems: air pollution control, noise abatement systems and battery coating lines
  • Measuring and Process Systems: balancing equipment as well as assembly, testing and filling technology
  • Woodworking Machinery and Systems: machinery and equipment for the woodworking industry

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.