Slide 1: Preliminary figures fiscal year 2024
Preliminary figures fiscal year 2024 Dr. Jochen Weyrauch, CEO Dürr AG Dietmar Heinrich, CFO Dürr AG March 06, 2025 Bietigheim-Bissingen
Slide 2: 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 3: 2024 in a nutshell: important actions taken!
2024 in a nutshell: important actions taken! Solid operational performance in a challenging environment Good progress with operational excellence Order intake EBIT FCF Automotive Environmental Woodworking and sales margin generation new upper half of > €100 m p.a. Value before Strong project €50 m r
Slide 4: Agenda
1 Overview Dürr Group as a whole 2 Divisions (old structure) 3 Financials Dürr Group as a whole Financials continued operations 4 and new divisions 5 Outlook Agenda 6 Summary
Slide 5: Overview
1 Overview Dürr Group as a whole
Slide 6: 2024: Solid base for profitable growth
1. Overview Dürr Group as a whole 2024: Solid base for profitable growth ▪ New record order intake of €5.14 bn driven by Automotive customers upgrading their paint shops ▪ Order backlog at €4.45 bn (+6.0% y-o-y) ▪ Sales revenues reached new record level of €4.70 bn – book-to-bill at 1.09 ▪ EBIT marg
Slide 7: Solid operations – slight profit decline
1. Overview Dürr Group as a whole Solid operations – slight profit decline in € m 2023 Margin +11% +2% 2024 -8% 5,137 4,627 4,698 4,615 280 258 -7% +21% 110 6.1% 102 157 129 5.5% 2.4% 2.2% Incoming orders Sales revenues EBIT before Net profit Free cash flow extraord. effects ▪ Strong automotive orde
Slide 8: Actuals versus targets
1. Overview Dürr Group as a whole Actuals versus targets Targets met or exceeded Targets 2024 Actual 2024 Incoming orders in € m 4,600 – 5,000 5,137 Sales revenues in € m 4,700 – 5,000 4,698 EBIT margin before extraordinary effects in % 4.5 – 6.0 5.5 EBIT margin in % 3.5 – 5.0 4.4 ROCE in % 12 – 17
Slide 9: Order intake above prior year in all four quarters
1. Overview Dürr Group as a whole Order intake above prior year in all four quarters Book-to-bill at 1.09 (2023: 1.00) due to strong automotive business in € m Book-to-bill Key aspects Order intake ▪ Large automotive order in Q1 based on partnership model ▪ Strong demand for energy- and cost- 1.44 1
Slide 10: Regional development of order intake
1. Overview Dürr Group as a whole Regional development of order intake Increasing orders from Americas and Europe in € m +11% ▪ Germany includes large partnership order in Q1 ▪ Americas driven by stronger automotive and 5,137 woodworking project demand 4,615 ▪ Asia (w/o China) lower due to base effe
Slide 11: Portfolio management – streamlining the Group
1. Overview Dürr Group as a whole Portfolio management – streamlining the Group Sale of Danish subsidiary Agramkow Agramkow ▪ World leading supplier of systems for filling refrigerators, air-conditioning systems, and heat pumps with refrigerant ▪ Sales of around €45 million in 2023 ▪ Enterprise valu
Slide 12: The “old” Dürr Group
1. Overview Dürr Group as a whole The “old” Dürr Group Complex setup with 5 divisions Paint shops, Environmental technology, Production Balancing Woodworking Major markets final assembly lines, battery production automation technology technology test systems technology Paint and Final Application Cl
Slide 13: On track to simplify group structure
1. Overview Dürr Group as a whole On track to simplify group structure Leaner organization and stronger focus on core business Dürr Group. Sustainable. Automation. Divisions Automotive Industrial Automation Woodworking Target structure Paint shops, Production automation, Major final assembly lines,
Slide 14: Dürr Group Climate Strategy 2035
1. Overview Dürr Group as a whole Dürr Group Climate Strategy 2035 Revised climate strategy with new reference year 2024 Dürr Group 2024 emissions (new base year) in % and kt CO2e Scope 3 Verified climate (downstream) Indirect CO2e emissions from strategy in line with ~87% downstream activities 1 th
Slide 15: Dürr Group is following the 1.5°C pathway
1. Overview Dürr Group as a whole Dürr Group is following the 1.5°C pathway Dürr Group advancing fast on Scope 1 and Scope 2 targets1 Scope 1 und 2 emissions (in ktCO2e) Highlights 2024 ▪ Photovoltaic systems reach 6.8 MWp. 60 ▪ 7.5% of Dürr Group’s total electricity consumption self -56% generated
Slide 16: Dürr Group Climate Strategy 2035
1. Overview Dürr Group as a whole Dürr Group Climate Strategy 2035 Scope 1-3: Dürr Group emission reduction pathways1 Scope 1 & 2 emissions development 2024-2035 (in ktCO2e): Scope 3 emissions1 development 2024-2035 (in ktCO2e): -4% -30% -32% -55% 24 16 6,006 5,783 11 4,186 2024 2030 2035 2024 2030
Slide 17: Divisions (old structure)
2 Divisions (old structure)
Slide 18: Paint and Final Assembly Systems
2. Divisions (old structure) Paint and Final Assembly Systems Very strong orders and significant margin improvement Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 1,804.7 1,476.0 22.3% 349.4 209.9 66.5% Sales revenues in € m 1,393.3 1,363.6 2.2% 400.3 428.0 -6.5% EBIT in € m 97.5 67.4 44.7% 39
Slide 19: Application Technology
2. Divisions (old structure) Application Technology All KPIs improved in 2024 Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 808.3 719.8 12.3% 116.0 168.5 -31.1% Sales revenues in € m 670.9 614.0 9.3% 173.5 164.8 5.3% EBIT in € m 69.2 60.0 15.4% 19.9 21.6 -7.7% EBIT margin in % 10.3 9.8 +0.5 p
Slide 20: Clean Technology Systems
2. Divisions (old structure) Clean Technology Systems Strong order intake and margin Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 542.2 480.4 12.9% 184.0 114.4 60.9% Sales revenues in € m 496.6 481.2 3.2% 133.2 132.5 0.5% EBIT in € m 32.9 25.3 29.7% 10.2 7.7 31.7% EBIT margin in % 6.6 5.3 +1
Slide 21: Industrial Automation Systems
2. Divisions (old structure) Industrial Automation Systems Consolidation related growth but weak margin development Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 671.3 583.8 15.0% 168.6 197.5 -14.6% Sales revenues in € m 765.4 590.7 29.6% 200.2 212.9 -5.9% EBIT in € m 9.1 11.3 -19.3% -7.5 2.5
Slide 22: Woodworking Machinery and Systems
2. Divisions (old structure) Woodworking Machinery and Systems Stable order intake – sales decline as expected Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 1,356.9 1,395.5 -2.8% 325.6 427.4 -23.8% Sales revenues in € m 1,413.5 1,625.1 -13.0% 358.1 402.8 -11.1% EBIT in € m 43.7 71.1 -38.5% 13
Slide 23: Service business
2. Divisions (old structure) Service business Service sales and gross margin continue to grow % of group sales Service sales in € m Key aspects 29.8 28.1 29.1 28.4 29.8 ▪ Good service business at Automotive and HOMAG 27.8 27.3 26.9 ▪ Service margin further improved Service mix 2024 (y-o-y pp.) 373 3
Slide 24: Financials
3 Financials Dürr Group as a whole
Slide 25: Overview of key financial indicators
3. Financials Dürr Group as a whole Overview of key financial indicators Continued and discontinued operations 2024 2023 Δ Q4 2024 Q4 2023 Δ Sales revenues in € m 4,698.1 4,627.3 1.5% 1,256.4 1,328.2 -5.4% Gross profit on sales in € m 1,012.0 1,005.1 0.7% 281.1 246.6 14.0% Gross margin in % 21.5 21.
Slide 26: Revenues accelerated in Q4
3. Financials Dürr Group as a whole Revenues accelerated in Q4 Annual growth of 1.5% at low end of expectations Sales revenues in € m Key aspects -5.4% +8.3% ▪ Solid year-end closing with high service share ▪ Project delays in Automotive / Production Automation ▪ Small shifts in regional shares Sale
Slide 27: Solid operative EBIT margin development
3. Financials Dürr Group as a whole Solid operative EBIT margin development EBIT margin bef. e. e. in % Key aspects EBIT bef. e. e. in € m ▪ Strong improvement in Automotive and Clean Technology Systems 7.1 7.0 6.2 ▪ HOMAG cost measures limit margin decline 5.6 5.6 5.2 4.9 4.1 -8% 94 -30 82 89 280 7
Slide 28: Strong free cash flow generation
3. Financials Dürr Group as a whole Strong free cash flow generation Free cash flow in € m Key aspects ▪ Significant payments received earlier than expected (timing effect to reverse in 2025) ▪ Capex increased 121 75 -42 44 38 15 25 19 122 -27 6 -74 -50 157 32 129 11 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FCF EBIT
Slide 29: Net working capital reduced
3. Financials Dürr Group as a whole Net working capital reduced Early payments and lower inventories are major drivers in € m DWC Key aspects NWC ▪ Successful inventory reduction (HOMAG) ▪ Early payments boost change in contract liabilities ▪ DWC below target range 48 42 44 38 in € m 12/31/2024 12/3
Slide 30: Net debt significantly reduced
3. Financials Dürr Group as a whole Net debt significantly reduced Comfortable leverage of 1.1x in € m Gearing Key aspects Net financial status ▪ Strong FCF generation (timing effect payments) 33% 31% 29% 31% 28% ▪ Sale of Agramkow 10% 24% 0% ▪ Net debt includes €110.7 m leasing liabilities -4 in €
Slide 31: Comfortable liquidity headroom
3. Financials Dürr Group as a whole Comfortable liquidity headroom in € bn Maturity profile as of December 31, 2024 in € million (financial instruments only) 2.0 250 1.70 1.5 200 0.75 150 1.0 100 0.5 0.95 50 0.06 0.0 0 Available funds Financial liabilities 2025 2026 2027 2028 2029 2030 2031 2032 < 1
Slide 32: Cash settlement offer for HOMAG shares
3. Financials Dürr Group as a whole Cash settlement offer for HOMAG shares Final court decision significantly reduces risks and uncertainties Decision by Higher Regional Court of Stuttgart HOMAG shareholder structure ▪ Cash settlement of €31.58 per share (€31.56 before) + interest ▪ Guaranteed divid
Slide 33: Financials continued operations and new divisions
4 Financials continued operations and new divisions
Slide 34: Continued operations
4. Financials continued operations and new divisions 4. Continued operations Excluding Environmental technology 2024 2023 Δ Q4 2024 Q4 2023 Δ Sales revenues in € m 4,290.9 4,196.0 2.3% 1,142.9 1,215.3 -6.0% Gross profit on sales in € m 903.0 901.3 0.2% 249.3 218.7 14.0% Gross margin in % 21.0 21.5 -
Slide 35: Automotive division
4. Financials continued operations and new divisions Automotive division Merger of Paint and Final Assembly Systems and Application Technology Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 2,606.3 2,193.0 18.8% 464.5 378.1 22.9% Sales revenues in € m 2,057.1 1,973.4 4.2% 572.8 591.6 -3.2% EBI
Slide 36: Industrial Automation division
4. Financials continued operations and new divisions Industrial Automation division Merger of Lithium-Ion Battery business unit with Industrial Automation Systems division Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 811.8 627.6 29.3% 254.8 201.9 26.2% Sales revenues in € m 851.9 639.0 33.3%
Slide 37: Woodworking division
4. Financials continued operations and new divisions Woodworking division No change in scope Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 1,356.9 1,395.5 -2.8% 325.6 427.4 -23.8% Sales revenues in € m 1,413.5 1,625.1 -13.0% 358.1 402.8 -11.1% EBIT in € m 43.7 71.1 -38.5% 13.4 -13.4 - EBIT ma
Slide 38: Clean Technology Systems Environmental
4. Financials continued operations and new divisions Clean Technology Systems Environmental Air purification and noise abatement systems – excludes Lithium-Ion Battery business Q4 Q4 2024 2023 Δ 2024 2023 Δ Incoming orders in € m 391.5 432.6 -9.5% 96.6 108.1 -10.6% Sales revenues in € m 407.2 431.3
Slide 39: Outlook
5 Outlook
Slide 40: Positioning in current environment
5. Outlook Positioning in current environment Challenges, uncertainties, opportunities Dürr positioning Tariffs Local operations close to customers Chinese export expansion Increase localization in China Climate protection Energy efficient products Labor shortage and reshoring Automation powerhouse
Slide 41: Fundamental demand drivers
5. Outlook Fundamental demand drivers Our solutions help our customers achieve efficient and sustainable production Dürr Group. Sustainable. Automation. Sustainable production Energy and resource efficiency KEY Enabling sustainable products for a zero CO2 society DEMAND DRIVERS Electric vehicles (EV
Slide 42: Guidance 2025 (continued + discontinued)
5. Outlook Guidance 2025 (continued + discontinued) Target: profitable growth in 2025 Actual 2024 Targets 2025 Incoming orders in € m 5,137 4,700 – 5,200 Sales revenues in € m 4,698 4,700 – 5,000 EBIT margin before extraordinary effects in % 5.5 5.5 – 6.5 EBIT margin in % 4.4 4.5 – 5.5 ROCE in % 14.
Slide 43: Breakdown of 2025 guidance by division
5. Outlook Breakdown of 2025 guidance by division Order intake Sales revenues EBIT margin (in %) (in € m) (in € m) before e.e.* 2024 Targets 2025 2024 Targets 2025 2024 Targets 2025 Automotive 2,606 2,100 – 2,300 2,057 2,000 – 2,200 8.4 7.5 – 8.5 Industrial Automation 812 800 – 950 852 850 – 950 3.6
Slide 44: Guidance continued operations 2025
5. Outlook Guidance continued operations 2025 Excluding the environmental business held for sale Actual 2024 Targets 2025 Incoming orders in € m 4,746 4,300 – 4,700 Sales revenues in € m 4,291 4,200 – 4,600 EBIT margin before extraordinary effects in % 4.6 4.5 – 5.5 EBIT margin in % 3.6 3.5 – 4.5 RO
Slide 45: Mid-cycle targets confirmed
5. Outlook Mid-cycle targets confirmed More than €6 billion sales targeted in 2030 5% – 6% CAGR sales revenues ≥ 8% EBIT margin before extraordinary effects ≥ 25% ROCE www.durr-group.com © Dürr AG, Conference call – Preliminary figures 2024, March 06, 2025 45
Slide 46: Summary
6 Summary
Slide 47: Summary 2024
6. Summary Summary 2024 ▪ Solid operational performance in a challenging environment Dürr Group. ▪ Free cash flow > €100 million for the fifth year in a row Sustainable. ▪ Action taken to improve resilience and streamline Group structure Automation. ▪ Addressing long-term trends with industry leadin
Slide 48: Appendix
Appendix www.durr-group.com
Slide 49: P&L in detail
Appendix P&L in detail Dürr Group as a whole in € m 2024 2023 Δ Q4 2024 Q4 2023 Δ Sales revenues 4,698.1 4,627.3 1.5% 1,256.4 1,328.2 -5.4% Cost of sales -3,686.1 -3,622.2 1.8% -975.3 -1,081.6 -9.8% Gross profit on sales 1,012.0 1,005.1 0.7% 281.1 246.6 14.0% Selling expenses -409.1 -412.1 -0.7% -10
Slide 50: P&L in detail – continued operations
Appendix P&L in detail Continued operations in € m 2024 2023 Δ Q4 2024 Q4 2023 Δ Sales revenues 4,290.9 4,196.0 2.3% 1,142.9 1,215.3 -6.0% Cost of sales -3,387.9 -3,294.8 2.8% -893.7 -996.6 -10.3% Gross profit on sales 903.0 901.3 0.2% 249.3 218.7 14.0% Selling expenses -374.2 -378.5 -1.1% -94.9 -99
Slide 51: Balance sheet highlights (1/2)
Appendix Balance sheet highlights (1/2) Assets 2024 2023 Non-current assets 1,838.3 1,916.3 of which goodwill and intangibles 976.6 1,088.8 of which property, plant and equipment 679.6 655.2 of which investment and financial assets 46.6 45.5 Current assets 3,140.1 3,239.7 of which inventories and pr
Slide 52: Balance sheet highlights (2/2)
Appendix Balance sheet highlights (2/2) Equity and Liabilities in € m 2024 2023 Total equity 1,223.7 1,177.0 of which non-controlling interests 4.7 7.1 Non-current liabilities 1,343.6 1,225.3 of which provisions 59.1 60.9 of which bond and Schuldschein loans 1,138.1 953.2 of which other financial li
Slide 53: Cash flow
Appendix Cash flow in € m 2024 2023 EBT 166.0 171.3 Depreciation and amortization of non-current assets 162.3 130.8 Interest result 40.8 24.8 Income taxes paid -77.2 -83.6 Δ Provisions -0.8 32.4 Δ Net working capital 113.2 -9.2 Other -20.1 21.1 Operating cash flow 384.3 287.5 thereof continued opera
Slide 54: Overview: Financial figures by division (1/2)
Appendix Overview: Financial figures by division (1/2) Old structure 2024 2023 2022 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Incoming orders in € m 570.2 480.7 404.5 349.4 1,804.7 606.6 400.9 258.7 209.9 1,476.0 426.6 317.8 481.9 328.0 1,554.4 Sales revenues in € m 302.9 338.8 351.3 400
Slide 55: Overview: Financial figures by division (2/2)
Appendix Overview: Financial figures by division (2/2) Old structure 2024 2023 2022 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Incoming orders in € m 377.3 321.3 332.7 325.6 1,356.9 352.6 318.8 296.6 427.4 1,395.5 573.8 457.0 386.8 288.2 1,705.8 Sales revenues in € m 347.0 358.9 349.5 358
Slide 56: Overview: Extraordinary effects
Appendix Overview: Extraordinary effects Old structure, in € m 2024 2023 2022 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total PFS -1.0 -1.7 -1.6 -0.9 -5.2 -0.6 1.0 -0.1 -2.0 -1.7 -0.6 -0.7 -0.5 -2.3 -4.1 thereof PPA -1.0 -1.0 -1.0 -1.0 -3.9 -0.6 -0.6 -0.6 -0.5 -2.3 -0.6 -0.6 -0.6 -0.6 -2.4 APT
Slide 57: Shareholder structure
Appendix 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 ▪ Harris Associates L.P.: 3.02% ▪ Members of the Dürr AG Supervisory Board: 0.12% ▪ Members of the Dürr AG Board of Management: 0.07%
Slide 58: Financial calendar
Appendix Financial calendar March 2025 May 2025 ▪ 03/06/2025 Preliminary figures for fiscal 2024 ▪ 05/13/2025 Interim statement for the first quarter of 2025 ▪ 03/28/2025 Annual Report 2024 ▪ 05/15/2025 Annual general meeting HOMAG Group AG ▪ 05/16/2025 Annual general meeting Dürr AG ▪ 05/21/2025 Th
Slide 59: Preliminary figures fiscal year 2024
Preliminary figures fiscal year 2024 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 March 06, 2025 corpcom@durr.com Bietigheim-Bissingen www.durr-group.com