BIETIGHEIM-BISSINGEN (dpa-AFX) - Machinery manufacturer Dürr has lowered its forecast for 2024 due to weak business in woodworking. Due to a sharp decline in incoming orders as a result of the ongoing downturn in the woodworking machinery market, the margin measured by earnings before interest and taxes (Ebit) before special effects will be 4.5 to 6.0 percent next year on sales growth of 5 to 10 percent, the MDax-listed group announced in Bietigheim-Bissingen on Thursday evening. It said the 8 percent margin previously forecast for 2024 presupposes a business recovery in woodworking and is not expected until 2026 at the earliest. The 2023 forecast of an EBIT margin before special items of 6.0 to 7.0 percent, however, was confirmed. On Tradegate, the share price fell by about seven percent compared to the Xetra close.

According to Dürr, additional measures are currently being developed for the woodworking business bundled at Homag. The aim is to ensure that the EBIT margin before special effects in this business does not fall below two percent in 2024. In addition to the increased use of flexible working time instruments, management also plans to reduce capacities. Talks with employee representatives are to be held in the coming weeks. According to Dürr, concrete information will be announced "in a timely manner."/jha/he