Durr Ag · XETR:DUE
Durr — Dürr Aktiengesellschaft — Q3 2025 Earnings Presentation
46 slides from Durr's earnings presentation, Nov 13, 2025
Slide 1: Results Q3/9M 2025
Results Q3/9M 2025 Dr. Jochen Weyrauch, CEO of Dürr AG Dietmar Heinrich, CFO of Dürr AG November 13, 2025 Bietigheim-Bissingen
Slide 2: Disclaimer
Disclaimer 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 o
Slide 3: Agenda
1 Overview 2 Divisions 3 Financials 4 Full focus on Sustainable.Automation 5 Outlook Agenda 6 Summary
Slide 4: Overview
1 Overview
Slide 5: Overview: Strong earnings in Q3
1. Overview: Strong earnings in Q3 Continued operations ▪ Order intake still subdued in Q3 due to ongoing macro uncertainty, improvements expected in Q4 ▪ Sequential sales improvement in Q3, further acceleration in Q4 expected ▪ EBIT margin on a high level in Q3 (6.6%), almost reaching the FY guidan
Slide 6: Overview: KPIs 9M 2025 (continued op.)
1. Overview: KPIs 9M 2025 (continued op.) EBIT before extraordinary effects up 9%, net profit down due to non-cash impairment in Q2 in € m 9M 2024 9M 2025 Margin -29% -3% 3,707 +9% +15% 3,148 3,052 2,650 150 137 85 74 54 1.7% 4.9% 4.4% -2.2% -68 Incoming orders Sales revenues EBIT before Net profit/
Slide 7: Overview: KPIs 9M 2025 (Group as a whole)
1. Overview: KPIs 9M 2025 (Group as a whole) Including the Clean Technology Systems Environmental division sold on Oct. 31 in € m 9M 2024 9M 2025 Margin -27% -3% 4,002 +4% +30% 3,442 3,327 2,902 180 187 106 80 82 2.3% 5.6% 5.2% -1.5% -50 Incoming orders Sales revenues EBIT before Net profit/loss Fre
Slide 8: Overview: Order intake (continued op.)
1. Overview: Order intake (continued op.) Q2 and Q3 impacted by uncertain trade and macro environment in € m Book-to-bill Order intake Key aspects ▪ Q3: Higher order level in Industrial Automation 1.36 ▪ Base effect: 9M 2024 marked by several very large automotive orders -31.8% -5.5% ▪ High order in
Slide 9: Overview: Regional order intake (continued op.)
1. Overview: Regional order intake (continued op.) Declines except for Asia (w/o China), Africa, Australia in € m -29% ▪ Good order intake in India and Saudi Arabia, 3,707 for example ▪ High 2024 level marked by very large automotive orders, mainly in Germany 2,650 -26% -15% -66% 1,128 +33% -35% 894
Slide 10: Divisions
2 Divisions
Slide 11: Divisions: Automotive
2. Divisions: Automotive High margin: Improved 9M earnings on constant sales 9M 2025 9M 2024 Δ Q3 2025 Q3 2024 Δ Incoming orders in € m 1,214.8 2,141.8 -43.3% 310.1 616.4 -49.7% Sales revenues in € m 1,486.6 1,484.3 0.2% 504.9 526.6 -4.1% EBIT before extraordinary effects in € m 114.6 111.6 2.7% 43.
Slide 12: Divisions: Industrial Automation
2. Divisions: Industrial Automation Order intake, sales and earnings clearly improved in Q3 (sequentially + yoy) 9M 2025 9M 2024 Δ Q3 2025 Q3 2024 Δ Incoming orders in € m 515.6 557.0 -7.4% 191.4 177.6 7.8% Sales revenues in € m 560.2 632.7 -11.5% 193.2 185.3 4.2% EBIT before extraordinary effects i
Slide 13: Divisions: Woodworking
2. Divisions: Woodworking Margin improved based on implemented self-help measures 9M 2025 9M 2024 Δ Q3 2025 Q3 2024 Δ Incoming orders in € m 938.8 1,031.4 -9.0% 267.7 332.7 -19.5% Sales revenues in € m 1,025.8 1,055.3 -2.8% 351.8 349.5 0.7% EBIT before extraordinary effects in € m 53.6 35.0 53.3% 24
Slide 14: Divisions: Clean Technology Systems Environmental
2. Divisions: Clean Technology Systems Environmental Sale to Stellex Capital successfully closed on October 31, 2025 9M 2025 9M 2024 Δ Q3 2025 Q3 2024 Δ Incoming orders in € m 252.3 294.8 -14.4% 73.0 90.1 -19.0% Sales revenues in € m 275.4 293.7 -6.2% 91.2 104.9 -13.1% EBIT before extraordinary effe
Slide 15: Divisions: Service business (continued op.)
2. Divisions: Service business (continued op.) Service business recovered in Q3 after macro induced spending restraints in Q2 % of group sales Service sales in € m Key aspects ▪ Q3 service sales up 14% vs. Q2 28.8 28.1 27.6 29.1 27.8 26.3 ▪ High service share of 28.8% in Q3 total sales 25.5 Service
Slide 16: Financials
3 Financials
Slide 17: Financials: Key financial indicators (continued op.)
3. Financials: Key financial indicators (continued op.) 9M 2025 9M 2024 Δ Q3 2025 Q3 2024 Δ Sales revenues in € m 3,052.0 3,148.0 -3.0% 1,043.7 1,055.6 -1.1% Gross profit on sales in € m 687.0 653.8 5.1% 234.8 214.8 9.3% Gross margin in % 22.5 20.8 +1.7 ppts. 22.5 20.4 +2.1 ppts. EBITDA in € m 222.8
Slide 18: Financials: Sales revenues (continued op.)
3. Financials: Sales revenues (continued op.) Sequential sales growth in Q3 Sales revenues in € m Key aspects ▪ Sequential improvements in Q3 mainly in Industrial -1.1% +4.3% Automation and Woodworking ▪ Automotive: strong Q4 expected Sales per region 9M 2025 1,084 1,143 -3 ppts. -3 ppts. 1,009 1,05
Slide 19: Financials: EBIT margin before e.e. (continued op.)
3. Financials: EBIT margin before e.e. (continued op.) Strong Q3 pushes YTD margin safely into the FY guidance range EBIT margin bef. e. e.* in % EBIT bef. e. e.* in € m Key aspects ▪ Margin improvements in Q3 in all divisions 6.6 ▪ FY guidance: 4.5% to 5.5% 5.1 4.7 4.4 4.2 4.0 3.9 69 +9% 59 19 2 15
Slide 20: Financials: Free cash flow (continued op.)
3. Financials: Free cash flow (continued op.) Clearly positive free cash flow in Q3 Free cash flow in € m Key aspects ▪ EBIT decline and D&A increase due to goodwill impairment in Q2 ▪ Negative NWC effect offset by less capex 56 85 49 74 11 46 3 -5 -20 28 38 18 -117 111 7 1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FCF
Slide 21: Financials: Net working capital reduced
3. Financials: Net working capital reduced NWC: -16 % vs. YE 2024 in € m DWC NWC Key aspects 44 ▪ DWC at 31 days: better than target range (40 to 50) ▪ Temporary increase in trade receivables over-compensated by 38 38 lower contract assets and increased contract liabilities 36 35 31 in € m 09/30/202
Slide 22: Financials: Net financial debt
3. Financials: Net financial debt in € m Gearing Net financial status (cont. operations) Key aspects ▪ €97 million cash-out for the acquisition of around 2.5 million 31% 31% 30% HOMAG shares in Q1 after final court decision on cash 29% 28% 24% 28% settlement offer ▪ Q4: gross proceeds of approx. €29
Slide 23: Financials: Comfortable liquidity headroom
3. Financials: Comfortable liquidity headroom in € bn Maturity profile September 30, 2025 (outstanding financial instruments only) in € m 2.0 250 1.53 200 1.5 0.75 150 1.0 100 0.5 0.78 50 0.15 0.0 0.10 0 Available funds 2025/09/30 Financial liabilities < 12 months 2025 2026 2027 2028 2029 2030 2031
Slide 24: Full focus on Sustainable.Automation
4 Full focus on Sustainable. Automation
Slide 25: Disposal of environmental technology closed Oct. 31
4. Disposal of environmental technology closed Oct. 31 Stellex Capital acquired Dürr‘s Clean Technology Systems Environmental division Key facts ▪ Enterprise value: ~ €385 million (€407 million sales in 2024) ▪ Dürr retains ~ 25% re-investment share ▪ Gross proceeds: − ~ €290 to €310 million expecte
Slide 26: Sustainable.Automation: major transformation steps
4. Sustainable.Automation: major transformation steps Milestones of our transformation process From 08/2025 Adjustment 06/2025 of admin Sale of structure environmental 04/2025 technology (signing) New structure for 07/2024 06/2025 HOMAG established Targets reached Sale of Agramkow 06/2025 ▪ Lean
Slide 27: Sustainable.Automation: 3 instead of 5 divisions
4. Sustainable.Automation: 3 instead of 5 divisions Lean organization and full focus on core business Dürr Group. Sustainable.Automation. Divisions Automotive Industrial Automation Woodworking Paint shops, Production automation, Major final assembly lines, balancing technology, Woodworking technol
Slide 28: Sustainable.Automation: adjusting admin structure
4. Sustainable.Automation: adjusting admin structure Making the Dürr Group more robust, efficient and focused ▪ Reduction of around 500 employees in administration planned by end of 2026 ▪ Cost savings of around €50 million p.a. expected, full savings effect visible starting in 2027 ▪ More entrepren
Slide 29: Outlook
5 Outlook
Slide 30: Outlook: Group guidance 2025
5. Outlook: Group guidance 2025 Continued operations Actual 2024 Initial targets 2025 Adjusted targets 2025 Incoming orders in € m 4,745.7 4,300 – 4,700 3,800 – 4,1001 Sales revenues in € m 4,290.9 4,200 – 4,600 4,200 – 4,600 EBIT margin before extraordinary effects in % 4.6 4.5 – 5.5 4.5 – 5.5 EBIT
Slide 31: Outlook: influencing factors for group guidance
5. Outlook: influencing factors for group guidance ▪ Book gain of €160 to €190 million after taxes expected in Q4 ▪ €120.4 million goodwill impairment in Q2 Positive and negative effects are compensating each other No net effect on 2025 earnings after tax ▪ €40 to €50 million provisions for admin cu
Slide 32: Outlook: Divisional guidance 2025
5. Outlook: Divisional guidance 2025 Order intake Sales revenues EBIT margin (in %) before (in € m) (in € m) e.e. Adjusted Adjusted Adjusted Initial targets targets Initial targets targets Initial targets targets 2024 2025 2025 2024 2025 2025 2024 2025 2025 Automotive 2,606 2,100 – 2,300 1,800 – 2,0
Slide 33: Summary
6 Summary
Slide 34: Summary
6. Summary ▪ Strategic transformation completed: − Lean Group structure with 3 divisions − Focus on core business: Sustainable.Automation ▪ Order intake: opportunities for significant improvement in Q4 ▪ Further sales acceleration expected in Q4 ▪ Strong earnings resilience in adverse environment: −
Slide 35: Appendix
Appendix www.durr-group.com © Dürr AG, Conference call – Q3 2025, November 13, 2025 35 Internal use only
Slide 36: P&L in detail
P&L in detail Continued operations in € m 9M 2025 9M 2024 Δ Q3 2025 Q3 2024 Δ Sales revenues 3,052.0 3,148.0 -3.0% 1,043.7 1,055.6 -1.1% Cost of sales -2,365.0 -2,494.2 5.2% -808.9 -840.7 3.8% Gross profit on sales 687.0 653.8 5.1% 234.8 214.8 9.3% Selling expenses -290.9 -279.4 -4.1% -93.7 -86.6 -8
Slide 37: P&L in detail
P&L in detail Dürr Group as a whole in € m 9M 2025 9M 2024 Δ Q3 2025 Q3 2024 Δ Sales revenues 3,327.4 3,441.8 -3.3% 1,134.9 1,160.5 -2.2% Cost of sales -2,563.1 -2,710.9 5.4% -875.5 -919.8 4.8% Gross profit on sales 764.3 730.9 4.6% 259.4 240.7 7.8% Selling expenses -317.5 -305.6 -3.9% -102.3 -95.9
Slide 38: Balance sheet highlights (1/2)
Balance sheet highlights (1/2) Dürr Group as a whole Assets in € m 09/30/2025 12/31/2024 09/30/20241 Non-current assets 1,661.8 1,838.3 1,898.4 of which goodwill and intangibles 833.7 976.6 1,057.5 of which property, plant and equipment 650.0 679.6 662.1 of which investment and financial assets 47.1
Slide 39: Balance sheet highlights (2/2)
Balance sheet highlights (2/2) Dürr Group as a whole Equity and Liabilities in € m 09/30/2025 12/31/2024 09/30/20241 Total equity 1,099.7 1,223.7 1,192.0 of which non-controlling interests 20.8 4.7 6.1 Non-current liabilities 1,089.8 1,343.6 1,393.4 of which provisions 56.1 59.1 63.2 of which conver
Slide 40: Cash flow
Cash flow in € m 9M 2025 9M 2024 Q3 2025 Q3 2024 EBT -2.0 121.7 49.2 62.4 Depreciation and amortization of non-current assets 226.31 122.1 34.7 41.8 Interest result 22.1 27.6 8.3 7.6 Income taxes paid -49.8 -54.3 -12.5 -18.6 Δ Provisions -14.3 5.5 14.0 8.4 Δ Net working capital 58.1 61.9 -54.1 -0.1
Slide 41: Overview: financial figures by division (1/2)
Overview: financial figures by division (1/2) 2025 2024 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Incoming orders in € m 502.7 402.0 310.1 1,214.8 827.3 698.1 616.4 464.5 2,606.3 Sales revenues in € m 482.4 499.3 504.9 1,486.6 446.4 511.3 526.6 572.8 2,057.1 AUTO Order backlog in € m 2,707.0 2,556.4 2,357
Slide 42: Overview: financial figures by division (2/2)
Overview: financial figures by division (2/2) 2025 2024 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Incoming orders in € m 89.0 90.2 73.0 252.3 114.1 90.6 90.1 96.6 391.5 Sales revenues in € m 95.5 88.7 91.2 275.4 89.9 98.9 104.9 113.4 407.2 CTSE Order backlog in € m 279.0 266.1 247.8 338.0 321.8 299.2 291.
Slide 43: Overview: extraordinary effects
Overview: extraordinary effects in € m 2025 2024 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total AUTO -1.0 -1.2 -1.8 -4.0 -1.1 -1.8 -1.7 -0.9 -5.5 thereof PPA -0.9 -0.9 -0.9 -2.7 -1.1 -1.0 -1.0 -1.0 -4.2 INDU -6.9 -128.5 -7.6 -143.0 -9.5 -15.1 11.2 -16.7 -30.2 thereof PPA -6.3 -6.1 -5.5 -17.9 -9.0 -8.8 -8.8 -6.
Slide 44: Shareholder structure
Shareholder structure Free float at 70.3%1 26.2% Heinz Dürr GmbH, Berlin Heinz und Heide Dürr Stiftung, Berlin 2 Institutional and private investors, including ▪ Members of the Dürr AG Supervisory Board: 0.12% ▪ Members of the Dürr AG Board of Management: 0.07% 3.5% 70.3% 1 Free float calculated acc
Slide 45: Financial calendar
Financial calendar November 2025 December 2025 ▪ 11/13/2025 Interim statement for the first nine months of 2025 ▪ 12/01/2025 Berenberg European Conference, Windsor ▪ 11/19/2025 DZ BANK Equity Conference, Frankfurt ▪ 12/02/2025 Goldman Sachs Industrials & Autos Week, London ▪ 11/25/2025 Deutsches Eig
Slide 46: Results January to September 2025
Results January to September 2025 Dürr Aktiengesellschaft Carl-Benz-Straße 34 74321 Bietigheim-Bissingen Dr. Jochen Weyrauch, CEO of Dürr AG Germany Dietmar Heinrich, CFO of Dürr AG November 13, 2025 Bietigheim-Bissingen www.durr-group.com
Dürr Aktiengesellschaft — Q3 2025 Earnings Presentation on 6ix