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DGAP-Ad hoc: Dürr AG english = - 500 Beiträge pro Seite



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Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------

Dürr continues growth trend in first six months of 2001 Stuttgart, August 9, 2001 - In the first six months of 2001, which were characterized by economic uncertainties, sales of the Dürr Group increased to EUR 887.5 m after EUR 683.8 m in the same period of the previous year (+ 30 %). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose more than proportionate to EUR 54.1 m (+ 58 %, previous year: EUR 34.2 m). Due to goodwill amortization, and financing and integration costs for acquired companies, earnings before taxes (EBT) are slightly below last year`s level with EUR 12.2 m (previous year: EUR 12.5 m, - 2.4 %). Incoming orders totaled EUR 1,008.2 m (+ 10.6 %, previous year: EUR 911.5 m), orders on hand stood at EUR 1,455.1 m (+ 14.1 %, previous year: EUR 1,274.9 m). Employee count rose by 15.4 % to 12,754, mainly due to consolidations. Dürr invested EUR 19.9 m in properety, plant and equipment.

Dürr-AIS GmbH which incorporates the paint systems business acquired from the ABB Group has been included in the Group accounts since January 1, 2001. Carl Schenck AG has been consolidated since April 3, 2000. All the companies acquired from Alstom Automation have been fully consolidated since May 1, 2001.

The positive development of incoming orders also continued at the beginning of the second half of the year. A continuing downturn of the economy could, however, mean that incoming orders for the whole of the year may be below the target figures fixed at the beginning of the year. Normally higher sales are achieved in the second half of the fiscal year than in the first six months. Dürr is still expecting double-digit growth percentages in sales and earnings for the whole year, with more than proportionate growth in earnings. Dürr AG Susanne E. Langer (Investor Relations, phone +49 -7 11 - 136 1785) Gerhard Zaiss (Corporate Communications, phone +49 - 7 11 - 136 10 95)

end of ad hoc announcement (c) DGAP 09.08.2001

Issuer`s information/explanatory remarks concerning this ad hoc announcement:

Stuttgart, August 9, 2001 - The Dürr Technology Group has grown further in terms of sales and EBITDA in the first six months of the fiscal year 2001. Against the backdrop of a high order backlog and continuing dynamic business beyond the period under review, the Board of Management is expecting double-digit growth percentages in sales and earnings for the whole year, with more than proportionate growth in earnings. Dürr sees certain risks on account of a continuing market weakness in the USA and Japan and the negative effects this has on the global economy.

The Dürr Group reports according to US-GAAP. The German subsidiary Dürr-AIS GmbH which incorporates the paint systems business acquired from the ABB Group has been included in the Group accounts since January 1, 2001. All the companies acquired from Alstom Automation have been fully consolidated since May 1, 2001. Carl Schenck AG has been consolidated since April 3, 2000. The figures of the Schenck corporate division Test and Automation Systems are included in the figures of the Automotion business unit. The Schenck corporate divisions Measuring and Process Systems, Balancing and Diagnostics Systems, and Schenck Fertigungs & Service GmbH have been organised in the new business unit Measuring Systems with retroactive effect from January 1, 2001. The figures for the business units represent total values for sales and incoming orders including business transactions with other business units, whereas the Group figures are consolidated.

Dürr was able to increase earnings before interest, taxes, depreciation and amortization (EBITDA) in the first six months of 2001 by 58 % to EUR 54.1 m (previous year: EUR 34.2 m). Earnings before taxes (EBT) totaling EUR 12.2 m are slightly below the level of the previous year (EUR 12.5 m; -2.4 %.). This figure has been influenced by financing costs and goodwill amortization from acquisitions and by integration costs. Compared to the first six months of 2000, sales increased by 30 % to EUR 887.5 m (previous year EUR 683.8 m). Normally sales in the second half of a fiscal year are higher than in the first six months.

With incoming orders totaling EUR 1,008.2 m, Dürr can report an increase of 10.6 % (previous year EUR 911.5 m). Orders on hand were up by 14.1 % to EUR 1,455.1 m (previous year EUR 1,274.9 m) which leaves capacities well utilized into the fiscal year 2002. The number of employees increased by 15.4 % to 12,754 worldwide, especially as a result of companies having been consolidated for the first time. Investments in property, plant and equipment totaled EUR 19.9 m in the first six months.

"With strategically selected acquisitions we have opened up growth opportunities in important stages of the value chain in automobile manufacturing, and thanks to a broader range of products and services we have made Dürr less susceptible to cyclical fluctuations in demand" says Hans Dieter Pötsch, Chairman of the Board of Dürr AG. Dürr wants to continue on this successful path in future and intends to further expand its portfolio, for example in designing manufacturing processes and automotive plants, or in the area of test systems for vehicle development.

The Paint Systems business unit achieved total sales of EUR 443.5 m and reports total incoming orders of EUR 463.2 m. EBITDA totaled EUR 17.9 m. Total sales of the Automotion business unit amounted to EUR 195.0 m, total incoming orders stood at EUR 210.9 m, and EBITDA at EUR 0.4 m. With total sales amounting to EUR 27.6 m and total incoming orders of EUR 41.9 m, the Environmental business unit reported EBITDA of EUR 1.5 m. The Ecoclean business unit achieved total sales of EUR 109.6 m in the first six months of 2001, and reported total incoming orders totaling EUR 138.3 m. EBITDA stood at EUR 7.1 m. Total sales of the Services business unit amounted EUR 61.0 m. Total incoming orders stood at EUR 61.2 m, EBITDA at EUR 5.1 m. The Measuring Systems business unit achieved total sales of EUR 128.9 m, and total incoming orders of EUR 163.6 m. EBITDA stood at EUR 0.4 m. The corporate venture capital company INTX AG founded in the fiscal year 2000 agreed on a shareholding in Netcoach GmbH, Berlin in July. Netcoach develops and markets knowledge management software for the maintenance of complex technical systems.

Outlook for the whole year 2001: confidence in an uncertain business environment The Dürr Technology Group has started the second half of the year with a good order backlog. The positive development in incoming orders continued in July. There are some uncertainties, however, as regards the development of the world economy and business in the automotive industry in the second half of the year. A continuing downturn of the economy could mean that incoming orders may be below the target figures fixed at the beginning of the year. Dürr has responded to persistent cost pressure by putting in place a program for improving earnings, by systematically taking advantage of synergies within the Dürr Group and by pushing the introduction of e-business processes. The Board of Management is still expecting double-digit growth percentages in sales and earnings for the whole year, with more than proportionate growth in earnings.

The consolidated balance sheet, the consolidated statement of income and the consolidated statement of cash flows for Dürr AG for the first six months of 2001 will be displayed on the Dürr homepage http://www.durr.com under "Investor Relations" from the end of August. On October 24, 2001 Dürr will publish its- 9 months figures for the fiscal year 2001.

-------------------------------------------------------------------------------- WKN: 556520; Index: MDAX Listed: Amtlicher Handel in Frankfurt und Stuttgart; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover und München

090805 Aug 01



Autor: DGAP import (),08:09 09.08.2001



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