Dürr reports record order intake in the first half of 2024
The Dürr Group set a new record for incoming orders in the first half of 2024, benefiting from several major orders from the automotive industry. The record order intake was driven by major paint systems orders in Germany, China, Southern Europe and Mexico.
Dürr's incoming orders rose by 7.9% to € 2,792.1 million in the first half of the year. This was mainly due to high investments in sustainable and efficiency-enhancing painting technology, which automotive manufacturers use to significantly reduce the energy consumption and emissions of their plants. In addition, the inclusion of automation specialist BBS Automation, which was acquired on August 31, 2023, had a positive effect on incoming orders. Sales grew by 6.9% to € 2,281.3 million, with the higher-margin service business growing at an above-average rate of 8.4%. Thanks to a 9.4% increase in EBIT before special items, the margin of 5.0% was higher than in the same period of the previous year (4.9%). At € 43.8 million, free cash flow was very solid. Dr. Jochen Weyrauch, CEO of Dürr AG, said: "We are operating very robustly in a challenging environment. Based on the strong Automotive business, we are also expecting good incoming orders in the third quarter. For the year as a whole, incoming orders of just under € 5 billion and thus the upper end of the forecast range are realistic."
The record order intake in the first half of the year was based on major paint systems orders in Germany, China, Southern Europe and Mexico. Dr. Jochen Weyrauch: "Automotive manufacturers are looking to work with us, especially for challenging turnkey orders, because we offer them a convincing overall package of leading technologies, maximum energy efficiency and reliable project management. We are seeing that customers are also increasingly placing long-term orders in order to secure our availability." Dürr announced in June that it would bundle its paint technology business, which was previously operated in two divisions, under the umbrella of the new Automotive division from 2025. The aim is to serve customers even better and provide them with optimally coordinated products. "By bundling our activities, we will be able to support our customers even more effectively, especially in large-scale projects and long-term partnerships. They will receive integrated complete solutions, professional order processing and all services from a single source," said Dürr CEO Weyrauch.