Dürr Group Divests Danish Subsidiary Agramkow: Impact on Duerr Stocks?

• Dürr Group is selling its Danish subsidiary, Agramkow Fluid Systems A/S, including two subsidiaries and further assets, to Swedish investment company Solix Group AB.
• Agramkow specializes in filling technology for the non-automotive sector and achieved sales of around €45 million in the 2023 fiscal year. Its enterprise value stands at €47 million.
• Agramkow, headquartered in Sønderborg, Denmark, is the world’s leading supplier of systems for filling refrigerators, air-conditioning systems, and heat pumps with refrigerant.
• The company has been part of the Dürr Group since 2011 but is no longer part of the strategically relevant core business and has few synergies with other parts of the Group.
• The transaction does not involve the business in filling technology for the automotive industry, which is operated by Dürr Somac GmbH and remains within the Dürr Group as part of its core business.
• The purchase agreement signed with Solix is likely to be executed at the end of the second quarter, following completion of the carve-out process. Due to the expected proceeds from the sale, Dürr AG is adjusting the forecast for its net financial status as of December 31, 2024, to between €-500 and -550 million.

The next important date, Conference call for analysts and investors, at Duerr is on 14.05.2024.

The price of Duerr at the time of the news was 22,330EUR and was down -0,18 % compared with the previous day.
At this time, the index SDAX was at 13.998,46PKT (-1,47 %).

Duerr

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ISIN:DE0005565204WKN:556520

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