Duerr jumps on Q2 adjusted EBIT beat

System And Application Technologies

08/08/2024 10:27

** Shares in Duerr  DUEG.DE  jump 8.2% after the German
machinery maker posted better-than-expected Q2 results on
Wednesday
    ** The firm recorded Q2 adjusted EBIT of 60.9 million euros
vs company-complied consensus of 58.3 million euros, down 2.6%
y-o-y mainly due to weakness in HOMAG business
    ** Q2 order intake came at 1.30 billion euros, up 16.1% yoy,
triggered by strong demand in the Paint & Final Assembly Systems
and Application Technology divisions
    ** Duerr expects FY order intake at the upper end of the
target range of 4,600 to 5,000 million euros and sales at
4,700-5,000 million euros
    ** "Duerr is well underway to fulfill expectations for 2024
more towards the upper level of the guidance," Baader Helvea
said, reiterating its "buy" rating
    ** Out of 15 analysts that cover Duerr AG, nine rate the
stock "strong buy" or "buy",​ six rate "hold" and no analysts
rate the stock "strong sell" or "sell" - LSEG

 (Eva Orsolya Papp)
 ((evaorsolya.papp@thomsonreuters.com))