Durr Ag · XETR:DUE
Durr — 9M 2007 Earnings Presentation
19 slides from Durr's earnings presentation, Nov 15, 2007
Slide 1: Welcome to the conference call of Dürr AG
Welcome to the conference call of Dürr AG Results January - September 2007 Dürr Group Stuttgart, November 15, 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: 9 months 2007 at a glance: Good order situation
9 months 2007 at a glance: Good order situation 9 months 9 months ∆ Q3 Q3 ∆ 2007 2006 2007 2006 in € m Incoming orders 1,307.1 1,160.8 12.6% 394.7 315.5 25.1 % Sales revenues 1,015.0 984.0 3.2% 364.7 357.6 2.0% Orders on hand (September 30) 1,088.5 890.0 22.3% 1,088.5 890.0 22.3% § Favorable book to
Slide 4: 9 months 2007 incoming orders and sales: well balanced structure
9 months 2007 (2006) incoming orders and sales: well balanced structure Incoming orders Sales revenues 17.4% 17.5% 20.5% 19.9% (29.8%) (15.8%) (19.6%) (20.4%) 23.6% 20.4% (19.6%) 41.5% (21.5%) 39.2% (34.8%) (38.5%) Germany Europe excluding Germany North & South America Asia, Africa, Australia § Decl
Slide 5: Order backlog: well balanced across regions
Order backlog: well balanced across regions Order backlog 9/30/2007 (1,088.5 € m) China 16.4% India 11.2% 11.2% 29.5% Russia 13.7% 40.9% 18.4% Czech Republic 7.5% Other Eastern Europe 4.1% USA 10.7% Mexico 5.2% Germany Europe excl. Germany North & South America Asia, Africa, Australia © Dürr AG, CCI
Slide 6: Operating earnings up 67.2% in Q3 2007
Operating earnings up 67.2% in Q3 2007 9 months 9 months ∆ Q3 Q3 ∆ 2007 2006 2007 2006 in € m Gross profit on sales 162.2 162.0 0.2% 57.5 55.5 3.6% EBITDA* 41.4 34.2 21.1% 21.0 14.1 48.9% Operating earnings (EBIT*) 27.4 19.3 42.2% 16.1 9.6 67.2% Net income 5.7 0.1 >100% 5.7 3.4 67.6% § Gross margin
Slide 7: Paint and Assembly Systems
Paint and Assembly Systems Strong demand 9 months 9 months 2007 2006 in € m Incoming orders 1,048.5 928.2 Sales revenues 794.6 793.2 EBIT 13.2 20.6 § Incoming orders in Q3 up 20.1% § High growth in incoming orders at Factory Assembly Systems and Environmental and Energy Systems § Earnings still infl
Slide 8: Measuring and Process Systems
Measuring and Process Systems Turnaround achieved at Cleaning and Filtration Systems 9 months 9 months 2007 2006 in € m Incoming orders 258.6 232.6 Sales revenues 220.4 190.8 EBIT 9.5 -6.8 § Balancing and Diagnostic Systems: Positive development continued. Earnings clearly above budget and previous
Slide 9: Cash flow from operating activities significantly improved
Cash flow from operating activities significantly improved 9 months 9 months 2007 2006 in € m EBIT 27.7 15.1 Amortization and depreciation of non-current assets 14.0 14.9 Income taxes paid -5.1 -4.8 Changes in provisions 0.8 -14.9 Changes in net working capital -47.2 -57.8 Other -22.9 -32.3 Total -3
Slide 10: Net financial debt: Higher financing needs during the year
Net financial debt: Higher financing needs during the year in € m FY 2006 9 months 2007 0 -20 -40 -60 -80 -100 -96.5 -120 -140 -130.4 -160 -170.5 -165.5 -180 Period end Period average -200 § Goal for year-end 2007: Only slight increase in net financial debt compared to year-end 2006 © Dürr AG, CCI,
Slide 11: Selected key figures
Selected key figures 9 months 9 months 2007 2006 in € m Capex 17.5 10.2 Net working capital (September 30) 204.3 223.1 Prepayments received (September 30) 142.5 110.3 Equity (September 30) 247.9 242.7 § Capex: expenditures for IT/SAP as planned § Increase in prepayments according to development of i
Slide 12: Number of employees up especially in emerging markets
Number of employees up especially in emerging markets due to healthy outlook 6.000 +3.6% 5,869 09/30/06 09/30/07 5,667 5.000 4.000 +0.3% 3.000 3,031 3,039 2.000 -5.2% +9.2% 1.000 1,196 1,134 +30.7% 863 942 754 577 0 World Worldw ide Germany Germ any Europe excl. Europe excl. Germ any North & South N
Slide 13: Strategy process started in September 2007
Strategy process started in September 2007 From Restructuring to Performance 2005 - 2007: Restructuring program 2008 - 2010: Profitable growth § Concentration on core business § Improving operating performance to benchmark level § Financial restructuring § Financial discipline Strategy process: § Tu
Slide 14: Strategic Process
Strategic Process First concrete measures at Factory Assembly Systems § Focus on growth business, e.g. aircraft assembly systems § Loss-making conveyor technology business will be streamlined and repositioned § FAStplant – our modular final assembly concept – will be strengthened § Capacity in turnk
Slide 15: Outlook: Full project pipeline and growing market share
Outlook: Full project pipeline and growing market share Logarithmic illustration in € bn 10 10 5 Projects in the market Paint and Assembly 11 Systems order intake Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 annualized 2004 2005 2006 2007 Source: Own calculations © Dürr AG, CCI, Conference Call Q3-9
Slide 16: Summary/Outlook
Summary/Outlook § Turnaround candidate Cleaning and Filtration Systems better than expected; US turnaround in plan § Repositioning of Factory Assembly Systems to increase growth and improve profitability § Requests for quotation remain strong. The automobile market should see healthy growth in the n
Slide 17: Financial calendar
Financial calendar February 2008 Preliminary figures 2007 03/20/2008 Annual press conference and analyst meeting 05/02/2008 Annual general meeting 05/08/2008 Interim report January – March 2008 08/07/2008 Interim report half year 2008 11/06/2008 Interim report January – September 2008 Contact: Dürr
Slide 18: © Dürr AG, CCI, Conference Call Q3-9 months 2007, November 15, 2007
© Dürr AG, CCI, Conference Call Q3-9 months 2007, November 15, 2007 - 18 -
Slide 19: Shareholder structure October 01, 2007
Shareholder structure October 01, 2007 incl. about 1% held by Dürr Management © Dürr AG, CCI, Conference Call Q3-9 months 2007, November 15, 2007 - 19 -