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    DUE   DE0005565204

DÜRR AG

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Dürr : The Dürr AG Board of Management will be reduced to three members, Pekka Paasivaara will leave the Board of…

09/30/2020 | 12:35pm EDT

Bietigheim-Bissingen, September 30, 2020 - Pekka Paasivaara will cease to be a member of the Dürr AG Board of Management by mutual agreement and will depart at the close of December 31, 2020. The Woodworking Machinery and Systems division, for which he is responsible, will be taken over by Ralf W. Dieter, CEO of Dürr AG.

Woodworking Machinery and Systems comprises the HOMAG Group's business with the woodworking industry and is the largest division of the Dürr Group with sales of € 1.3 billion in 2019.

'Mr. Dieter will continue pursuing the current optimization projects at Woodworking Machinery and Systems with a consistent and focused approach. Being a market and technology leader, HOMAG has great potential for profitable growth, both in the core business with furniture manufacturers and in the solid wood market of the future. The leading role in digitalization further enhances these future prospects. Together with the managers and employees at HOMAG we want to tap this potential', said Gerhard Federer, Chairman of the Dürr AG Supervisory Board.

The Supervisory Board Chairman thanked Pekka Paasivaara for his very successful work: 'He has been instrumental in the further development of HOMAG since 2015. Thanks to the One HOMAG program, he has transformed a decentralized organization into a globally active unit. The Supervisory Board regrets his departure and wishes him all the best and continued success in his professional and personal life.' Pekka Paasivaara had informed the Supervisory Board of Dürr AG in the previous week that he did not wish to extend his contract, which is due to terminate at the end of 2021.

From October 1, 2020, the Measuring and Process Systems division, currently headed by Ralf W. Dieter, will be managed by Dietmar Heinrich in addition to his current responsibilities as CFO. Aside from his financial expertise, he also has extensive operating management experience in industry.

Dr. Jochen Weyrauch remains responsible on the Dürr AG Board of Management for the divisions of Paint and Final Assembly Systems, Application Technology and Clean Technology Systems.

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 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 € 3.92 billion in 2019. The company has around 16,300 employees and 112 business locations in 34 countries. 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
  • 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 30 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2020 16:34:06 UTC


© Publicnow 2020
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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
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Yield 2021 1,72%
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Average target price 35,50 €
Spread / Average Target 8,10%
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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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