Durr Ag · XETR:DUE
Durr — Dürr Aktiengesellschaft — Q1 2026 Earnings Presentation
35 slides from Durr's earnings presentation, May 12, 2026
Slide 1: Results January – March 2026
Results January – March 2026 Dr. Jochen Weyrauch, CEO Dürr AG Dietmar Heinrich, CFO Dürr AG May 12, 2026 Bietigheim-Bissingen
Slide 2: New Head of IR: Björn Voss
New Head of IR: Björn Voss Vice President Corporate Communications, Investor Relations and Sustainability ▪ 20 years of capital market experience ▪ Former stations − Bertrandt AG (Head of IR and M&A) − M.M.Warburg & CO (Co-Head Portfolio Management) − Warburg Research (Director Equity Research) www.
Slide 3: Resilient performance in an adverse environment
Resilient performance in an adverse environment ▪ Market environment − Automotive and Woodworking: solid development despite economic headwinds − Industrial Automation heterogenous: Balancing technology strong, BBS Automation subdued, self-help measures in implementation and development phase ▪ Robu
Slide 4: Positive earnings trend in Q1 despite weaker sales
Positive earnings trend in Q1 despite weaker sales in € m Q1 2025 Q1 2026 Margin -11% -7% 0% 1,080 1,007 940 957 39 39 +>1,000% +22% 27 4.2% 21 3.9% 17 2.2% 1.7% 1 Incoming orders Sales revenues EBIT before Net profit Free cash flow extraord. effects ▪ Order intake down 11%, but solid pipeline for A
Slide 5: Order intake: limited Middle East impact
Order intake: limited Middle East impact Book-to-Bill at 1.02 in € m Book-to-bill Order intake Key aspects ▪ Automotive and Woodworking -11.4% -23.1% largely in line with our 1.12 expectations 1.07 ▪ Balancing with sound new orders 1.02 ▪ Market weakness in BBS 0.81 Automation's mobility business 0.
Slide 6: Regional development of order intake
Regional development of order intake in € m Q1 2025 Q1 2026 ▪ Automotive: major orders received in China and the US ▪ Woodworking: larger timber house contracts in Europe -11% 1,080 957 -26% +4% -11% 338 -2% 314 325 -20% 252 182 161 123 121 123 98 Total China Americas Germany Europe (w/o Asia (w/o C
Slide 7: War in the Middle East / Update on tariffs
War in the Middle East / Update on tariffs Customer behavior Energy, transportation, logistic costs Order intake less affected so far than after ▪ Low share of energy costs: <1% of sales “Liberation Day” in 2025. ▪ Logistics costs under control, also due to floaters Exposure Tariff claims: no decisi
Slide 8: Divisions
Divisions
Slide 9: Automotive
Automotive Solid start to the year and well filled sales channel Q1 2026 Q1 20251 Δ Incoming orders in € m 459.0 506.4 -9.4% Sales revenues in € m 479.5 499.7 -4.0% EBIT before extraordinary effects in € m 28.9 32.1 -10.1% EBIT margin before extraordinary effects in % 6.0 6.4 -0.4 ppts. EBIT in € m
Slide 10: Industrial Automation
Industrial Automation Strong balancing technology business, BBS Automation: upcoming optimization measures Q1 2026 Q1 20251 Δ Incoming orders in € m 130.2 178.7 -27.1% Sales revenues in € m 153.2 169.4 -9.6% EBIT before extraordinary effects in € m 5.0 9.0 -44.5% EBIT margin before extraordinary eff
Slide 11: Woodworking
Woodworking Continued soft demand in furniture business offset by positive trend in timber house business Q1 2026 Q1 20251 Δ Incoming orders in € m 370.0 397.4 -6.9% Sales revenues in € m 309.6 341.4 -9.3% EBIT before extraordinary effects in € m 9.5 12.9 -26.4% EBIT margin before extraordinary effe
Slide 12: Service business
Service business Stable service share at improved gross margins % of group sales Service sales in € m Key aspects ▪ Larger share of spare parts business ▪ Increase in service sales is part of the BoM´s 2026 28.8 27.8 27.8 27.9 STI target (15% share of STI target) 26.3 Service mix Q1 2026 (y-o-y pp.)
Slide 13: Financials
Financials
Slide 14: Overview of key financial indicators
Overview of key financial indicators Higher gross margin based on effective capacity measures, lower D&A, increased service margin Q1 2026 Q1 2025 Δ Sales revenues in € m 940.2 1,007.4 -6.7% Gross profit on sales in € m 216.8 226.2 -4.2% Gross margin in % 23.1 22.5 +0.6 ppts. EBITDA in € m 68.7 67.2
Slide 15: Revenues: muted start, acceleration ahead
Revenues: muted start, acceleration ahead Promising sales channel Sales revenues in € m Key aspects Q1 ▪ Customer-induced project delays in Automotive -6.7% -15.8% ▪ Low order intake at Woodworking in Q2 + Q3 2025 ▪ Market weakness in BBS Automation’s auto business Sales per region Q1 2026 (y-o-y pp
Slide 16: EBIT margin b.e.e. up 30 bps to 4.2%
EBIT margin b.e.e. up 30 bps to 4.2% Improvement despite adverse environment EBIT margin b.e.e. in % EBIT b.e.e. in € m Key aspects 7.4% ▪ Operating margin improvement based on increased gross margin and lower admin + selling costs 6.6% ▪ PPA effects down, approx. €20 m expected for FY 2026 4.2% 4.2
Slide 17: Positive free cash flow based on further NWC reduction
Positive free cash flow based on further NWC reduction Free cash flow in € m Key aspects ▪ “Others” including approx. €10 m change in provisions 27 77 16 46 38 27 5 -2 3 -2 1 1 5 1 Q1 Q2 Q3 Q4 Q1 FCF Q1 EBIT Depreciation,Δ NWC Capex Interests Income Others FCF Q1 2025 Amortization incl. taxes 2026 L
Slide 18: Net working capital and DWC at very low levels
Net working capital and DWC at very low levels in € m Days Working Capital Net Working Capital Key aspects ▪ Changes in inventories and receivables nearly 36 offsetting each other 31 ▪ Contract assets still at a low level, but expected to 28 rise in the upcoming quarters due to sales channel 27 27 ▪
Slide 19: Net financial debt further reduced
Net financial debt further reduced Very low leverage of 0.2 in € m Gearing Net financial status Key aspects ▪ Positive FCF causes further reduction of net fin. debt 28% 31% 30% ▪ Total liquidity and gross debt reduced vs. YE 2025 5% 3% mainly due to repayment of convertible in January -47 -66 in € m
Slide 20: Comfortable liquidity headroom
Comfortable liquidity headroom in € bn Maturity profile, March 31, 2026 (outstanding financial instruments only) in € million 2.0 1.81 250 200 1.5 0.75 150 1.0 100 0.5 1.06 50 0.15 0.0 0 Available funds 2026/03/31 Financial liabilities <12 months 2026 2027 2028 2029 2030 2031 2032 Cash credit facili
Slide 21: Outlook
Outlook
Slide 22: Group guidance for 2026 confirmed
Group guidance for 2026 confirmed Actual 2025 Targets 2026 Incoming orders in € m 3,894.8 3,800 – 4,200 Sales revenues in € m 4,168.4 3,900 – 4,300 EBIT margin before extraordinary effects in % 5.6 5.0 – 6.5 ROCE in % 15.6 13 – 18 Free cash flow in € m 161.8 -150 – 0 ▪ The forecast provides that the
Slide 23: Divisional guidance for 2026 confirmed
Divisional guidance for 2026 confirmed Order intake Sales revenues EBIT margin (in %) (in € m) (in € m) b.e.e. 20252 Targets 2026 20252 Targets 2026 20252 Targets 2026 Automotive 1,874 1,800 – 2,100 2,115 2,000 – 2,200 7.9 7.0 – 8.0 Industrial Automation1 622 600 – 750 665 625 – 725 5.3 5.0 – 6.5 Wo
Slide 24: Summary Q1 2026
Summary Q1 2026 ▪ Solid start into 2026 in an adverse environment ▪ Earnings oriented course continued − Margin expansion: 4.2% EBIT b.e.e. − Net income: 22% increase ▪ Resilience shown in Automotive and Woodworking ▪ Self-help measures at BBS in preparation or already being implemented ▪ Further im
Slide 25: Appendix
Appendix www.durr-group.com
Slide 26: P&L in detail
P&L in detail in € m Q1 2026 Q1 2025 Δ Sales revenues 940.2 1,007.4 -6.7% Cost of sales -723.4 -781.2 7.4% Gross profit on sales 216.8 226.2 -4.2% Selling expenses -93.1 -97.5 4.6% General administrative expenses -53.0 -64.4 17.8% Research and development costs -39.0 -34.1 -14.5% Other operating inc
Slide 27: Balance sheet highlights (1/2)
Balance sheet highlights (1/2) Assets 03/31/2026 12/31/2025 03/31/2025 Non-current assets 1,685.3 1,688.6 1,825.0 of which goodwill and intangibles 810.4 813.3 969.2 of which property, plant, and equipment 661.8 660.3 664.8 of which investment and financial assets 115.9 115.3 47.2 Current assets 2,8
Slide 28: Balance sheet highlights (2/2)
Balance sheet highlights (2/2) Equity and Liabilities in € m 03/31/2026 12/31/2025 03/31/2025 Total equity 1,379.5 1,353.1 1,257.0 of which non-controlling interests 18.9 18.3 19.1 Non-current liabilities 1,056.5 1,107.6 1,187.5 of which provisions 61.0 62.1 55.5 of which convertible and Schuldschei
Slide 29: Cash flow
Cash flow in € m Q1 2026 Q1 2025 EBT 30.2 25.1 Depreciation and amortization of non-current assets 33.9 36.4 Interest result 5.8 5.7 Income taxes paid -10.6 -15.7 Δ Provisions -11.2 -20.9 Δ Net working capital 20.8 17.4 Other -9.9 -16.3 Operating cash flow 58.9 31.8 Interest paid (net) -1.2 -1.7 Rep
Slide 30: Overview: Financial figures by division
Overview: Financial figures by division 2026 2025 2026 2025 Q1 Q1* Q2* Q3* Q4* Total Q1 Q1 Q2 Q3 Q4 Total Incoming orders in € m 459.0 506.4 404.0 312.6 651.4 1,874.4 Incoming orders in € m -1.8 -2.1 -1.4 -2.9 -2.3 -8.8 CC / Alloc. / Cons. Sales revenues in € m 479.5 499.7 514.7 520.3 579.9 2,114.6
Slide 31: Overview: Extraordinary effects
Overview: Extraordinary effects in € m 2026 2025 Q1 Q1* Q2* Q3* Q4* Total Automotive -1.5 -1.7 -1.9 -4.0 -26.0 -33.7 thereof PPA -0.9 -1.2 -1.2 -1.2 -1.1 -4.6 Industrial Automation -4.8 -6.2 -127.9 -5.1 -7.8 -146.9 thereof PPA -4.0 -6.1 -5.8 -5.2 -4.0 -21.2 Woodworking -0.5 -0.6 -1.2 -5.4 -3.2 -10.4
Slide 32: Shareholder structure
Shareholder structure Free float at 70.3%1 Heinz Dürr GmbH, Berlin Heinz und Heide Dürr Stiftung, Berlin 26.2% 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 accor
Slide 33: Financial calendar
Financial calendar May 2026 June 2026 ▪ 05/19/2026 USB Investing in Europe Conference, Frankfurt ▪ 06/18/2026 ODDO BHF London Forum, London ▪ 05/22/2026 Annual general meeting Dürr AG August 2026 September 2026 ▪ 08/06/2026 Interim statement for the first half of 2026 ▪ 09/09/2026 Morgan Stanley Ind
Slide 34: Disclaimer
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,
Slide 35: Results January – March 2026
Results January – March 2026 Dürr Aktiengesellschaft Carl-Benz-Str. 34 74321 Bietigheim-Bissingen Dr. Jochen Weyrauch, CEO Dürr AG Germany Dietmar Heinrich, CFO Dürr AG +49 7142 78-0 May 12, 2026 corpcom@durr.com Bietigheim-Bissingen www.durr-group.com
Dürr Aktiengesellschaft — Q1 2026 Earnings Presentation on 6ix