DZ Bank has left its rating for Dürr at "buy" with a fair value of 30 euros. In the first quarter, the plant engineering company did not quite meet expectations in terms of continuing operations, analyst Holger Schmidt wrote on Tuesday. However, the deviations are minor, so that the confirmed forecast can still be considered realistic.
The US analyst firm Bernstein Research left its rating for Dürr at "Outperform" with a target price of EUR 40 following the quarterly figures. It is difficult to say whether the results were in line with expectations, as there was some confusion due to the reorganization of the plant manufacturer and a lack of comparative figures, wrote Philippe Lorrain in an initial reaction published on Tuesday.
The mechanical engineering company Dürr achieved an impressive 41 percent jump in profits to 17.1 million euros in the first quarter, although sales remained stable at around one billion euros. This development is mainly due to lower extraordinary expenses and reduced financing costs compared to the previous year. The Bietigheim-Bissingen-based company is thus demonstrating that it is able to increase its profitability even in a challenging market environment.
Interestingly, turnover remained stable despite a decline in incoming orders. Incoming orders reached 1.08 billion euros, which is around 20 percent below the previous year. However, this previous year was characterized by an exceptionally large single order, which distorts the comparison. Nevertheless, the management under the leadership of Jochen Weyrauch remains optimistic and is sticking to its forecasts for the year.
