Interim Financial Report January 1 to June 30, 2015 (IFRS)
Strong growth in new orders in China and North America
- Operating earnings up 41% in the first half
- Sales revenues and order intake ahead of budget
Bietigheim-Bissingen, August 6, 2015 – Dürr’s mid-year order intake and sales revenues are ahead of budget. Order intake rose by 41% to € 1,795.5 million in the first half of the year, underpinned by the consolidation of the HOMAG Group (since October 2014) and strong demand in China and North America. Sales revenues rose by 67% to € 1,773.5 million. In addition to the inclusion of HOMAG, this was also due to a 34% increase in paint systems business. Over the year as a whole, Dürr expects to report order intake of € 3.2 to 3.5 billion and sales revenues of € 3.4 to 3.5 billion. “From today´s perspective, we are confident of being able to reach the top end of the target corridor for both figures,” says Ralf W. Dieter, CEO of Dürr AG. Operating EBIT (earnings before interest and taxes and extraordinary effects from the acquisition of HOMAG) increased by 41% to € 126.2 million in the first half of the year, resulting in an EBIT margin of 7.1% in the first half and 7.3% in the second quarter, in which earnings were stronger. Earnings after tax came to € 53.5 million in the first half of 2015 due to the extraordinary effects of the HOMAG transaction. On an operating level, however, i.e. adjusted for these extraordinary effects, they were up 39%.
Interim report 1st quarter 2015 (IFRS)
Dürr off to a good start in 2015 and in line with its planning
- Order intake and sales revenues up by just under 60%
- 33% increase in operating EBIT according to planning
- Extraordinary integration charges for HOMAG included in earnings after tax
Bietigheim-Bissingen, May 12, 2015 – The Dürr Group got off to a good start in 2015, closing the first quarter according to its planning. Order intake and sales revenues were up just under 60% over the previous year, rising to € 895.5 million and € 849.2 million, respectively. This growth was particularly driven by the HOMAG Group, which was consolidated for the first time in October 2014. Dürr’s other activities (excluding HOMAG) also posted an 8% increase in order intake and an 11% increase in sales revenues. Earnings before interest and taxes (EBIT) climbed by 7% to € 47.4 million in the first quarter of 2015 but include extraordinary charges of € 11.5 million arising from the accounting effects caused by the acquisition of HOMAG. The EBIT margin came to 5.6% in the first quarter. Adjusted for the extraordinary charges, EBIT rose by 33%, yielding an operating EBIT margin of 6.9%. The extraordinary charges will drop substantially from the second quarter onwards. Consequently, Dürr expects to achieve its full-year EBIT margin target (incl. extraordinary expenses) of 7 to 7.5% in 2015.