Dürr AG — Earnings Release 2001

Apr 23, 2002

News Details

Ad-hoc | 23 April 2002 10:09

Dürr AG english

Dürr Lays the Foundation for Further Growth Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– 23.4.2002 – The Dürr Group succeeded in improving key figures considerably despite the difficult circumstances prevailing in fiscal 2001 and laid the foundation for further growth. Operating results – EBITDA – increased by 17% to EUR 135.3 m (2000: EUR 115.3 m), earnings before taxes (EBT) by 13% to EUR 47.3 m (2000: EUR 41.8 m) and net income by 39% to EUR 24.7 m (2000: EUR 17.8 m). Earnings per share improved by 32% to EUR 1.73 (2000: EUR1.31). The earnings figures for fiscal 2000 have been restated retroactively because of originally not fully recorded contract-related accruals. As was the case last year, a dividend of EUR 1.10 per share shall be paid. Group sales rose by 7.8% to EUR 2,201 m (2000: EUR2,042 m) and incoming orders by 4.7% to EUR 2,063 m (2000: EUR1,970 m). In the first quarter of 2002 Dürr’s incoming orders rose by 15% to EUR 486 m (2001: EUR 421 m), sales by 12% to EUR 395 m (2001: EUR 354 m) and orders on hand by 11% to EUR 1,258 m (2001: EUR 1,137 m). Earnings were affected by the restructuring programs currently being implemented, mainly at Schenck companies. Against that background EBITDA was EUR 2.6 m (2001: EUR 27.0 m) and EBT EUR – 14.8 m (2001: EUR 7.8 m). Most of the restructuring measures should be completed within the third quarter of 2002 and positive effects are expected thereafter. In addition to business from paint finishing systems, cleaning systems and manufacturing support services, above-average contributions to profitable growth are expected in the medium term largely to come from the recently rearranged Final Assembly Systems and Measuring Systems business units. In this connection, Dürr will not pursue its declared intention of acquiring all shares in Carl Schenck AG by means of a squeeze-out. Despite the prevailing general uncertainties, the project situation looks positive on the whole and especially so in Europe and China. Judging the situation as it appears today, the Board of Management expects incoming orders and sales in 2002 to be much as in the previous year. The goal is to achieve the same level in earnings as in 2001 before restructuring effects. Dürr is very confident that it will emerge from this period of market weakness with new strength and that it will benefit above-average from an onset of economic recovery in 2003. Gerhard Zaiss: +49 (0)711 136 1095 / Susanne E. Langer: +49 (0)711 136 1785 end of ad-hoc-announcement (c)DGAP 23.04.2002 ——————————————————————————– WKN: 556520; ISIN: DE0005565204; Index: MDAX Listed: Amtlicher Handel in Frankfurt und Stuttgart; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover und München 231009 Apr 02