Thank you for the nice summary. Now I also understand why my Dürr shares rose by 8.17% this morning.
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@Hfrangino They have achieved a record half-year:
The mechanical engineering company and automotive supplier Dürr is defying the weakness in the automotive industry with record orders. In the second quarter, orders worth over 1.3 billion euros were received, 16 percent more than a year earlier, as the company announced in Bietigheim-Bissingen on Thursday. This is a record figure for the first half of the year, it said. The significant increase is also due to the takeover of the automation technology company BBS Automation, which was completed in the second half of the previous year. For the current year as a whole, CEO Jochen Weyrauch is now aiming for the upper end of the target range for incoming orders of 4.6 to 5.0 billion euros. Major orders for painting systems from Germany, China, southern Europe and Mexico provided a boost in the first half of the year. Turnover rose by just under 6 percent to 1.18 billion euros in the second quarter. Adjusted for special effects, earnings before interest and taxes fell by 2.6 percent to 60.9 million euros, partly due to purchase price write-downs on the acquisition of BBS Automation. However, this was a better result than analysts had expected. Dürr made a bottom-line profit of 19.1 million euros, which was significantly lower than the previous year's figure of 37.7 million euros, partly due to higher interest costs. The management confirmed the annual forecasts for sales and margin.
The mechanical engineering company and automotive supplier Dürr is defying the weakness in the automotive industry with record orders. In the second quarter, orders worth over 1.3 billion euros were received, 16 percent more than a year earlier, as the company announced in Bietigheim-Bissingen on Thursday. This is a record figure for the first half of the year, it said. The significant increase is also due to the takeover of the automation technology company BBS Automation, which was completed in the second half of the previous year. For the current year as a whole, CEO Jochen Weyrauch is now aiming for the upper end of the target range for incoming orders of 4.6 to 5.0 billion euros. Major orders for painting systems from Germany, China, southern Europe and Mexico provided a boost in the first half of the year. Turnover rose by just under 6 percent to 1.18 billion euros in the second quarter. Adjusted for special effects, earnings before interest and taxes fell by 2.6 percent to 60.9 million euros, partly due to purchase price write-downs on the acquisition of BBS Automation. However, this was a better result than analysts had expected. Dürr made a bottom-line profit of 19.1 million euros, which was significantly lower than the previous year's figure of 37.7 million euros, partly due to higher interest costs. The management confirmed the annual forecasts for sales and margin.
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