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Press Release Mar 19, 2024
Dürr AG proposes dividend of €0.70

Bietigheim-Bissingen, March 19, 2024 - The Dürr Group recorded a positive development in operating earnings in 2023 and improved its EBIT before extraordinary effects by 20.8% to €280.4 million. Therefore, the Board of Management and the Supervisory Board propose a dividend of €0.70 again, even though earnings after tax declined due to increased extraordinary expenses. The annual general meeting is due to vote on the dividend on May 17. Pay-scale employees in Germany receive a profit-sharing bonus of €1,500.

"Our dividend proposal takes into account the healthy earnings performance of our operating business, and we want our shareholders to benefit from this," said Dr. Jochen Weyrauch, CEO of Dürr AG. He also referred to the high cash flow in 2023: "We were able to increase free cash flow to nearly €130 million and therefore have sufficient scope to keep the payout consistent."

The dividend proposal of €0.70 per share results in a total payout of €48.4 million. The payout ratio, based on Group earnings after tax, increased from 36% in the previous year to 44%. It thus slightly exceeds the top end of Dürr AG's usual range of 30% to 40%. Group earnings after tax stood at €110.2 million in 2023, after reaching €134.3 million in the previous year. The decline in earnings was not due to operational reasons but resulted from increased extraordinary expenses of €89.0 million (2022: €26.3 million).

Profit-sharing bonus for employees rises by 20%
The profit-sharing bonus for employees will be increased by 20% due to the improved operating performance. Pay-scale employees in Germany will receive a profit-sharing bonus of €1,500, up from €1,250 in the previous year. "All five Group divisions increased their operating earnings more sharply than sales in 2023. For this outstanding performance, our employees deserve thanks and respect as well as financial recognition," said CEO Dr. Jochen Weyrauch.

Press photos

Dr. Jochen Weyrauch
CEO of Dürr AG
About the Dürr Group

The Dürr Group is one of the world's leading mechanical and plant engineering firms with particular expertise in the technology fields of automation, digitalization, and energy efficiency. Its products, systems, and services enable highly efficient and sustainable manufacturing processes - mainly in the automotive industry and for producers of furniture and timber houses, but also in sectors such as the chemical and pharmaceutical industries, medical devices, electrical engineering, and battery production. In 2023, the company generated sales of €4.6 billion. The Dürr Group has over 20,500 employees and 142 business locations in 32 countries, and it operates in the market 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: robots and products for the automated application of paint, sealants, and adhesives
  • Clean Technology Systems: air pollution control, coating systems for battery electrodes, and noise abatement systems
  • Industrial Automation Systems: automated assembly and test systems for automotive components, medical devices, and consumer goods as well as balancing and diagnostic technology
  • Woodworking Machinery and Systems: machinery and equipment for the woodworking industry
Disclaimer

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.

  • Dürr Group achieves highest award in the EcoVadis sustainability rating
Andreas Schaller
Vice President & Spokesperson
Corporate Communications & Investor Relations
Dürr Aktiengesellschaft
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Germany
Business Card.vcf
Mathias Christen
Senior Manager & Spokesperson
Corporate Communications & Investor Relations
Dürr Aktiengesellschaft
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Germany
Business Card.vcf
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Dürr AG published this content on 19 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 12:48:09 UTC.