Highest dividend in company history: Dürr plans to pay out
€ 2.20 per share
- Eighth consecutive dividend increase
- 4.8 % rise over the previous year
- Q1 figures (May 16, 2018) in accordance with IFRS 15 for the first time
Bietigheim-Bissingen, March 22, 2018 – Dürr AG intends to pay out a dividend of € 2.20 per share for fiscal 2017. This is equivalent to a 4.8 % increase over the previous year (€ 2.10 per share) and is the highest payout to date for Dürr shareholders. The dividend proposal was approved by the Supervisory Board and the Board of Management and will be voted on at the annual general meeting on May 9, 2018.
Ralf W. Dieter, CEO of Dürr AG: "In 2017, Dürr's earnings after taxes exceeded the € 200 million mark for the first time. Our shareholders are to benefit from this positive earnings development with a € 2.20 dividend, the highest in our company's history." As reported, the Dürr Group achieved earnings after taxes of € 201.5 million in fiscal 2017. At € 289.6 million, EBIT also reached a new all-time high, as did order intake, rising to almost € 3.9 billion.
Based on 34.6 million shares, the total payout is € 76.1 million, with the payout ratio amounting to 37.8 % of consolidated net profit (2016: 38.4 %). At the same time, the full-time tariff employees working for the Dürr Group in Germany will again this year receive the maximum profit-sharing bonus of € 2,750.
Dürr's annual report for 2017 will be published on www.durr.com on March 22, 2018; a printed version will be available from mid-April.
The figures for the first quarter of 2018, due to be published on May 16, will be prepared in accordance with the new International Financial Reporting Standard (IFRS) 15 "Revenue from Contracts with Customers" for the first time. Dürr does not expect any material effects to arise from the first application of IFRS 15. In the first quarter of 2017, EBIT had included high extraordinary income of € 23 million from the sale of the Dürr Ecoclean Group (industrial cleaning technology).
Current press photos can be found here.
The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitization/Industry 4.0. Products, systems and services offered by the Group enable highly efficient manufacturing processes in different industries. Dürr supplies sectors like the automotive industry, the mechanical engineering, chemical and pharmaceutical industries, and the woodworking industry. The company has 92 business locations in 31 countries. The Group generated sales of € 3.72 billion in 2017. Dürr has around 15,000 employees and operates in the market with five divisions:
- Paint and Final Assembly Systems: paint shops and final assembly systems for the automotive industry
- Application Technology: robot technologies for the automated application of paint, sealants and adhesives
- Clean Technology Systems: exhaust-air purification systems and energy efficiency technology
- Measuring and Process Systems: balancing equipment as well as assembly, testing and filling technology
- Woodworking Machinery and Systems: machinery and equipment for the woodworking industry
This publication has been prepared independently by Dürr AG/Dürr group (“Dürr”). 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 Dürr's disclosures, in particular in the chapter “Risks” in Dürr's annual report. 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 Dürr 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 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). Dürr's net assets, financial position and results of operations 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 can be found in our financial glossary on the Dürr web page.