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    DUE   DE0005565204

DÜRR AG

(DUE)
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Dürr : Dürr AG proposes dividend of €0.30 per share

03/17/2021 | 11:44am EDT

Bietigheim-Bissingen, March 17, 2021 - Dürr AG plans a dividend payout of €0.30 per share for fiscal 2020. The Supervisory Board has today agreed to the corresponding proposal by the Board of Management. The shareholders will vote on the dividend at the virtual annual general meeting on May 7.

Last year's dividend stood at €0.80 per share. The reasons for the proposed adjustment are the decline in earnings due to the coronavirus pandemic as well as high extraordinary expenses. In 2020 EBIT reached €11.1 million, down from €195.9 million in the previous year, while earnings after tax dropped to €-13.9 million (previous year: €129.8 million). However, free cash flow improved considerably, rising to €110.7 million. In addition, the Dürr Group ended fiscal 2020 with a record liquidity. In total, Dürr AG is planning a dividend payout of €20.8 million this year.

CEO Ralf W. Dieter says: 'We have so far navigated the coronavirus crisis on a very solid footing, and we have a substantial amount of free funds. Furthermore, business prospects have improved again considerably over the past few months. We are optimistic that we will return to achieving profitable growth this year. This optimism is reflected in our dividend proposal.'

€1,225 profit-sharing bonus for employees
The Dürr Group's tariff employees based in Germany will receive a profit-sharing bonus of €1,225 for fiscal 2020. The company is thus recognizing their commitment in managing the coronavirus crisis. 'The pandemic has impacted business but further strengthened the team spirit within the Group. 2020 has shown once again that we can rely on our employees', says CEO Ralf W. Dieter.

The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitalization/Industry 4.0. Its products, systems and services enable highly efficient and resource-saving manufacturing processes in different industries. The Dürr Group supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical, medical technology and woodworking industries. It generated sales of € 3.32 billion in 2020. The company has more than 17,000 employees and 120 business locations in 33 countries. Since February 2021, the majority-owned automation specialist Teamtechnik has also been part of the Group. The Group operates in the market with the brands Dürr, Schenck and HOMAG and with five divisions:

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

This publication has been prepared independently by Dürr AG/Dürr group. 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 disclosures of Dürr AG, in particular in the chapter 'Risks' in the annual report of Dürr AG. 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 the Dürr group 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 AG 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). Net assets, financial position and results of operations of the Dürr group 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 AG can be found in our → financial glossary on the web page.

Disclaimer

Dürr AG published this content on 17 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 16:43:02 UTC.


© Publicnow 2021
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Sales 2021 3 624 M 4 328 M 4 328 M
Net income 2021 86,1 M 103 M 103 M
Net Debt 2021 353 M 421 M 421 M
P/E ratio 2021 26,4x
Yield 2021 1,72%
Capitalization 2 273 M 2 706 M 2 714 M
EV / Sales 2021 0,72x
EV / Sales 2022 0,65x
Nbr of Employees 16 984
Free-Float 70,4%
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Average target price 35,50 €
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NameTitle
Ralf Werner Dieter Chairman-Management Board
Dietmar Heinrich Chief Financial Officer & Member-Management Board
Gerhard Federer Chairman-Supervisory Board
Martin Schwarz-Kocher Member-Supervisory Board
Anja Schuler Member-Supervisory Board
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