Despite the challenging times in the automotive industry, the machine builder and automotive supplier Dürr seems to be doing well. According to the latest report from dpa, Dürr has received record orders, with orders totaling over 1.3 billion euros in the second quarter. This is a 16% increase compared to the previous year, marking it as a record value for the first half of the year.
The significant increase in orders can be attributed to the acquisition of automation specialist BBS Automation, which was completed in the second half of 2023. As a result, Dürr’s CEO Jochen Weyrauch is now considering the upper end of the target range for total orders for the current year, ranging from 4.6 to 5.0 billion euros. Large orders for painting systems from Germany, China, Southern Europe, and Mexico have provided a significant boost in the first half of the year.
In terms of financial performance, the revenue increased by nearly six percent in the second quarter, reaching 1.18 billion euros. However, the adjusted earnings before interest and taxes decreased by 2.6 percent to 60.9 million euros, partly due to depreciation related to the acquisition of BBS Automation. Despite this, the result was better than expected by analysts. Dürr reported a profit of 19.1 million euros, which was lower than the previous year’s 37.7 million euros, mainly due to higher interest costs.
Despite the decrease in profit, Dürr’s management has confirmed the annual revenue and margin forecasts. This indicates that the company is confident in its ability to navigate through the challenges in the industry and maintain its financial stability. The strong performance in securing record orders showcases Dürr’s resilience and strategic positioning in the market. With a positive outlook for the rest of the year, Dürr is poised to continue its growth trajectory and deliver value to its customers and stakeholders.