- Dürr with record orders in the first half of the year
Machine builder and supplier Dürr defies weakness in the automotive industry with record orders. In the second quarter, orders totaled over 1.3 billion euros - around 16 percent more than the previous year, as announced by the company in Bietigheim-Bissingen. This is a record value for the first half of the year. Notably, large orders for painting systems from Germany, China, Southern Europe, and Mexico provided a boost.
The significant increase is also attributable to the acquisition of automation specialist BBS Automation, which was completed in the second half of the previous year. For the current fiscal year, Dürr CEO Jochen Weyrauch now aims for the upper end of the target range for order intake of 4.6 to 5.0 billion euros.
Revenue up in the second quarter
Dürr AG's revenue increased by nearly 6 percent to 1.18 billion euros in the second quarter. The adjusted operating result (EBIT) decreased by 2.6 percent to 60.9 million euros, mainly due to amortization of the purchase price for BBS Automation. However, this was better than analysts had expected. Net income was 19.1 million euros, significantly lower than the previous year's 37.7 million euros, mainly due to higher interest expenses.
The company confirmed its annual forecasts for revenue and margin - the proportion of profit to revenue. It expects revenue to accelerate in the second half of the year, aiming to reach 4.7 to 5.0 billion euros. The company aims to achieve its target range for adjusted EBIT margin of 4.5 to 6.0 percent. After taxes, Dürr expects unchanged net income of 90 to 150 million euros.
Dürr's growth in large orders is not limited to Germany and China; they also received substantial orders from Southern Europe. The company's strategies, including acquisitions and focused product offerings, have contributed to their success, expanding their market reach south of Europe.
