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Dürr group achieves double-digit growth rates Sales: +14.5 %, incoming orders: +13.1 %, earnings +74.3 %

05/18/1998

At its financial press conference, Dürr AG has reported on business in 1997 and on the group's further development and prospects for the future.

Group sales increased in the past year from DM 1,640 million in 1996 to DM 1,878 million, which corresponds to a growth rate of 14.5 %. Incoming orders amounted to DM 2,020 million, thus surpassing the two-billion mark for the first time (preceding year: DM 1,786 million). Orders on hand at the end of the year totaled DM 1,692 million (preceding year: DM1,425 million), thus assuring utilization of group capacities beyond 1998. Earnings before taxes rose by almost 75 % to DM 63.1 million (preceding year: DM 36.2 million). Net income amounted to DM 40.8 million (preceding year: DM 23.9 million). Cash flow, as calculated according to DVFA/SG principles, came to DM 70.9 million (preceding year: DM 46.2 million). The return on sales after taxes amounted to 2.2 % (preceding year: 1.5 %), and the return on equity after taxes to 10.6 % (preceding year: 7.0 %). In view of the better earnings development, the Board of Management will propose at the shareholders' general meeting on July 1, 1998 an increase of the dividend from DM 1.20 for 1996 to DM 1.50 per DM 5 share.

The Board of Management expects the upward trend of business to continue in the current year. The group's incoming orders in the first four months of 1998 amounted to DM 795 million (preceding year: DM 657 million), which corresponds to an increase of 21.0 %. Sales totaled DM 410 million at the end of April 1998 (preceding year: DM 280 million), thus rising by 46.6 % over the year-earlier period. The Dürr group's earnings before taxes came to DM 9.8 million, or 50.8 % more than in the first four months of 1997 (DM 6.5 million). It now appears that Dürr's order intake will continue to develop positively in 1998 in all areas of business worldwide. In view of the good project situation and high order backlogs, the Board of Management expects further increases of sales and earnings.