Duerr slides on 'slightly disappointing' 2023 outlook
23/02/2023 10:17
** Shares of Duerr DUEG.DE fall 3.5% after the German
machinery maker published 2023 guidance below expectations
** Stefan Maichl of Landesbank Baden-Wuerttemberg says the
2023 free cashflow guidance of 50-100 million euros is "slightly
disappointing", as it is below the 117 million euros reached in
FY 2022
** He says that Duerr had already announced weaker free
cashflows for 2023 and 2024 due to temporarily higher
investments
** "FY 2022 delivered no meaningful earnings surprise,
despite moderately better sales," he adds
** The stock is at the bottom of the German mid-caps index
.MDAXI
(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))