Duerr surges on 'strong' H1, raised order intake guidance

Duerr AG

04/08/2022 08:24

** Shares in Duerr  DUEG.DE  rise 5% after the German
machinery maker raised FY order intake guidance after "strong"
H1  urn:newsml:reuters.com:*:nS8N2XX007
    ** Baader Helvea notes the ongoing strong order intake at
all divisions and sequentially and yoy noteworthy improved
revenues, as well as the "confident" outlook
    ** H1 order intake rose by 23.6% to 2.61 billion euros 
($2.66 billion), sales increased 19.7% to EUR 1.95 bln
    ** Duerr now sees FY order intake to come in a range of EUR
4.4 bln to EUR 4.7 bln vs previously forecast EUR 4.1-4.4 bln
    ** Although, as expected, Duerr reported lower year-on-year
Q2 results on purchasing costs headwinds, less favourable sales
mix and China lockdowns, the broker says that with EUR 40.4 mln
adj. EBIT and 3.9% adj. EBIT margin consensus expectations could
be slightly surpassed
    ** Duerr is among top gainers of Germany's midcaps index
 .MDAXI  

($1 = 0.9822 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))