Durr Ag · XETR:DUE
Durr — Q1 2007 Earnings Presentation
16 slides from Durr's earnings presentation, May 10, 2007
Slide 1: Welcome to the conference call Dürr AG
Welcome to the conference call Dürr AG Results January-March 2007 Dürr Group Stuttgart, May 10, 2007
Slide 2: Disclaimer
Disclaimer This presentation has been prepared independently by Dürr AG (“Dürr”). The presentation contains statements which address such key issues as Dürr´s strategy, future financial results, market positions, product development and the effects of the FOCUS restructuring program. Such statements
Slide 3: 3 months 2007 at a glance
3 months 2007 at a glance Q1 2007 Q1 2006 ∆ in € m Incoming orders 508.3 429.9 +18.2% Sales revenues 304.1 309.3 -1.7% Orders on hand 1,006.2 840.2 +19.8% § Incoming orders significantly above the already strong Q1 2006 and above Q4 2006 (€ 299 m) § Project pipeline strong § Orders on hand improved
Slide 4: Incoming orders by selected countries/regions
3 months 2007: Incoming orders by selected countries/regions Q1 2007 ∆ Q1 2006 in € m Germany 95.1 +87% Eastern Europe 152.1 +429% USA 41.1 -43% Mexico, Brazil 63.9 +556% India 40.0 +20% China 34.7 -70% § Eastern Europe: Very important growth region § China: Continuing high project level; Q1 incomin
Slide 5: Incoming orders/book to bill: Turnaround candidates
Incoming orders/book to bill: Turnaround candidates Incoming orders Q1 2007 Book to bill ∆ Q1 2006 ∆ Q4 2006 Q1 2007 in € m Factory Assembly Systems +89% +40% 1.8 Cleaning and Filtration Systems +20% +47% 1.5 Dürr Group +18% +70% 1.7 § Strong improvements in incoming orders at Factory Assembly Syste
Slide 6: Positive EBIT already in Q1 2007
3 months 2007: Positive EBIT already in Q1 2007 Q1 2007 Q1 2006 ∆ in € m Gross profit on sales 50.5 51.3 -1.7% EBITDA 7.2 3.4 +111.8% EBIT 3.0 -1.5 - Net income -2.1 -4.6 - § Gross margin unchanged at 16.6%. Higher efficiency and effects of service/revamp strategy offset by still weak results in Fac
Slide 7: Cash flow from operating activities
3 months 2007 Cash flow from operating activities Q1 2007 Q1 2006 in € m EBIT 3.3 -1.6 Amortization and depreciation of non-current assets 4.2 4.9 Income taxes paid -2.0 -6.9 Changes in provisions -5.9 -7.9 Changes in net working capital 4.3 0.4 Other -12.9 -16.7 Total -9.0 -27.8 § Cash flow signifi
Slide 8: Net financial debt
3 months 2007 at a glance Net financial debt in € m FY 2006 Q1 2007 0 -20 -40 -60 -80 -100 -96.5 -120 -123.7 -140 -130.4 -144.5 -160 Period end Period average Dürr AG © CCI, Conference Call Q1 2007, May 10, 2007 -8-
Slide 9: Paint and Assembly Systems
Paint and Assembly Systems 3 months 2007 Q1 2007 Q1 2006 in € m Incoming orders 425.0 354.4 Sales 244.7 244.2 EBIT 3.6 3.3 § Strong demand worldwide § Incoming orders: Double-digit %-growth at Paint Systems and Factory Assembly Systems § Strong sales & earnings growth expected in the course of 2007
Slide 10: Measuring and Process Systems
Measuring and Process Systems 3 months 2007 Q1 2007 Q1 2006 in € m Incoming orders 83.9 75.6 Sales 60.1 65.1 EBIT 0.0 -2.7 § Balancing and Diagnostic Systems: Ongoing positive. Earnings above budget in Q1 § Cleaning and Filtration Systems: Situation clearly improved, incoming orders above budget and
Slide 11: Forecast
Forecast § 2007: Sales growth of between 5 and 10%, ongoing strength of Euro could dampen sales growth § 2007: Strong earnings improvement driven by - improved processes - FOCUS effects - turnaround at loss-making operations - growth in services business § 2008 - EBT margin goal of 4% unchanged - Ba
Slide 12: Summary: On track
Summary: On track § Q1 2007: In line with budget; strong incoming orders § Turnaround candidates with encouraging improvements § Requests for quotation remain buoyant. The automobile market should see healthy growth in the next years § 2007 - Strong growth in earnings - Positive cash flow - Reduced
Slide 13: Shareholder structure May 10, 2007
Shareholder structure May 10, 2007 Free Float 50.7% according to calculation of Deutsche Börse Dürr AG © CCI, Conference Call Q1 2007, May 10, 2007 - 13 -
Slide 14: Financial Calendar
Financial Calendar 05/18/2007 Annual shareholders‘ meeting, Stuttgart 08/09/2007 Interim report first half 2007 11/15/2007 Interim report on first nine months 2007 11/12-14/2007 Eigenkapitalforum, Frankfurt Contact: Dürr Aktiengesellschaft Corporate Communications & Investor Relations Otto-Dürr-Stra
Slide 15: Dürr AG © CCI, Conference Call Q1 2007, May 10, 2007
Dürr AG © CCI, Conference Call Q1 2007, May 10, 2007 - 15 -
Slide 16: Incoming orders and sales
3 months 2007 (2006): Incoming orders and sales Incoming orders regionally balanced Incoming orders Sales 17.3% 18.7% 22.0% (39.0%) (11.8%) 24.1% (16.4%) (25.2%) 21.6% (20.7%) 17.3% 42.4% (23.8%) 36.6% (28.5%) (34.6%) Germany Europe excluding Germany North & South America Asia, Africa Dürr AG © CCI,