Duerr raises sales outlook on China, Homag purchase (updated)
03/11/2015 06:48
(Adds details)
BERLIN, Nov 3 (Reuters) - Germany's Duerr DUEG.DE raised
its sales outlook for 2015 after posting forecast-beating
results in the third quarter on strong demand from China and
business earned from acquiring woodworking specialist Homag
group.
The industrial systems and automotive supplier now expects
sales of 3.6-3.7 billion euros ($4.0-4.1 billion), compared with
a previous target of 3.4-3.5 billion, it said on Tuesday.
Nearly a billion euros of full-year sales will be
contributed by Homag HG1G.F which Duerr has consolidated in
its results since October 2014.
New orders may total 3.4-3.5 billion euros this year, the
company said, citing a strong intake from China in the
July-September period. Duerr also said it expects the EBIT
margin to come in roughly in the middle of its 7.0-7.5 percent
target range, after 8.6 percent last year.
Duerr has been investing in bolt-on acquisitions to
diversify beyond its core business of supplying production
systems for the automotive industry and also to tap into growing
demand for technologies such as gluing, filling and energy
efficiency.
The company reported a 35 percent increase in third-quarter
EBIT to 81.8 million euros, beating a 76.3 million-euro
consensus forecast in a Reuters poll of analysts.
urn:newsml:reuters.com:*:nL8N12U5C4Sales surged 70 percent to 988.2 million euros,
exceeding a Reuters forecast of 901 million.
($1 = 0.9060 euros)
(Reporting by Andreas Cremer; Editing by Kirsti Knolle and
Miral Fahmy)
((Andreas.Cremer@thomsonreuters.com; +49-30-2888-5084; Reuters
Messaging: andreas.cremer.thomsonreuters.com@reuters.net))
Keywords: DUERR RESULTS/