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DUE - Duerr AG News Story

€34.98 0.4  1.2%

Last Trade - 07/05/21

Sector
Industrials
Size
Mid Cap
Market Cap £2.11bn
Enterprise Value £2.10bn
Revenue £2.89bn
Position in Universe 295th / 1050

BRIEF-Duerr AG Says Q3 EBIT Down 57.5% To 25 Mln Eur

Thu 5th November, 2020 6:41am
Nov 5 (Reuters) - Duerr AG  DUEG.DE :
    * SAYS DÜRR GROUP CONFIRMING FULL-YEAR GUIDANCE AFTER UPWARD
TREND
IN THE THIRD QUARTER
    * SAYS BOARD OF MANAGEMENT CONFIRMS THE FORECAST FOR 2020
PUBLISHED IN JULY SUBJECT TO THE PROVISION THAT IN THE COMING
WEEKS THE CORONA PANDEMIC DOES NOT IMPACT THE ECONOMY MORE
SEVERELY THAN RECENTLY
    * SAYS ORDER INTAKE SHOULD REACH THE TARGET CORRIDOR OF €
3.1 TO
3.4 BILLION ASSUMING THAT THE RECENT POSITIVE TREND CONTINUES
    * SAYS STRONG ORDER INTAKE IN THE FINAL QUARTER IS ALSO
NECESSARY
TO ENSURE SUFFICIENT CAPACITY UTILIZATION IN THE FUTURE
    * SAYS Q3 SALES 815.3 MILLION EUR
    * SAYS TARGET OPERATING EBIT MARGIN OF 2.5 TO 2.8 % IS
WITHIN
STRIKING DISTANCE
    * SAYS Q3 EBIT 25 MILLION EUR
    * DUERR Q3 GROSS PROFIT 156.7 MILLION EUR
    * Q3 ORDER INTAKE 826.3 MILLION EUR
    * SAYS EXTRAORDINARY EXPENSES OF € 75 TO 85 MILLION HAVE
BEEN
BUDGETED FOR THE YEAR AS A WHOLE
    * SAYS  MAJOR PART OF THIS – BETWEEN € 43 AND 53 MILLION –
WILL BE
PLACED ON THE BOOKS IN THE FOURTH QUARTER
    * SAYS  DÜRR GROUP ASSUMES THAT THE ADJUSTMENTS IN THE
EUROPEAN
AUTOMOTIVE BUSINESS AND OTHER RESTRUCTURING MEASURES, SOME OF
WHICH HAVE ALREADY BEEN COMPLETED, WILL YIELD SAVINGS OF AROUND
€ 60 MILLION FROM 2021

Source text for Eikon:  ID: 
Further company coverage:  DUEG.DE 

 (Berlin Speed Desk)
 ((frankfurt.newsroom@thomsonreuters.com;))
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