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Investor Relations Presentation

Corporate Communications &

Investor Relations, Dürr AG

Bietigheim-Bissingen

December 2020

www.durr-group.com: © Dürr AG, CCI, Investor Relations Presentation, December 2020 2

This publication has been prepared independently by Dürr AG/Dürr Group. It may contain statements

which address such key issues as strategy, future financial results, events, competitive positions and

product developments. Such forward-looking statements are subject to a number of risks, uncertainties and

other factors, including, but not limited to those described in Dürr’s disclosures, in particular in the chapter

“Risks” in Dürr’s annual report. Should one or more of these risks, uncertainties and other factors

materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results,

performances or achievements of Dürr may vary materially from those described in the relevant forward-

looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,”

“intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr neither

intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of

developments which differ from those anticipated. Stated competitive positions are based on management

estimates supported by information provided by specialized external agencies.

Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial

metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Dürr’s

net assets, financial position and results of operations should not be assessed solely on the basis of these

alternative financial metrics. Under no circumstances do they replace the performance indicators presented

in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of

alternative financial metrics may vary from company to company despite the use of the same terminology.

Further information regarding the alternative financial metrics used at Dürr can be found in our financial

glossary on the Dürr web page (https://www.durr-group.com/en/investor-relations/service-

awards/glossary/).

df

Disclaimer

https://www.durr-group.com/en/investor-relations/service-awards/glossary/

www.durr-group.com 3

1. The Dürr Group in a nutshell

2. Our five divisions

3. Our strategy

4. Digitalization – adding value through smart apps

5. Sustainability – efficiency and enabling transformation

6. Results 9M 2020

7. Outlook

© Dürr AG, CCI, Investor Relations Presentation, December 2020

Agenda

www.durr-group.com © Dürr AG, CCI, Investor Relations Presentation, December 2020 4

German quality engineering with family roots since 1896

The Dürr Group in a nutshell

Diversified equipment supplier with leading positions in global niche markets

€ 3.9 billion sales (2019)

Diversified equipment portfolio focussing on:

− Automotive production technology (mainly painting + assembly)

− Woodworking technology

− Environmental technology

Core competencies: Automation and digitalization

Strong market positions in Europa, Asia and the Americas

High level of localization, strong emerging markets business

Solid financial position and strong ROCE potential

What we stand for:

Leading in production efficiency

High reliability and competence

Top quality

Competitive advantages:

Comprehensive shopfloor know-how

Strong project execution

Innovative technology

+


Worldwide presence: 112 sites in 33 countries

17%

27%

25%

2%

29%

Sales by region

Σ 2019

€ 3,922 m

50%

16%

12%

2%

20%

Employees by region

Σ 2019

16,493

10,800 Europe

2,400 Americas

3,100 Asia

Production, supply chain and service close to the customers in our core markets

40 Australia

150 Africa

~16,500 Worldwide


Our five divisions: leading in niche markets

Exhaust-air purification

systems

Coating systems for

battery electrodes

Sound insulation

systems

Woodworking

technology

Balancing technology

Filling technology

Turnkey paint shops

Final assembly

equipment

Painting robots

Sealing technology

Glueing technology

Clean Technology

Systems

Woodworking Machinery

and Systems

Measuring and Process

Systems

Paint and Final

Assembly Systems

Application

Technology

Various industries Furniture industry

Solid wood

construction industry

Various industries Mainly automotive

industry

Mainly automotive

industry

Dürr is the #1 supplier in its markets


Divisional breakdown 2019

EBIT before extraordinary effects in € m Sales split by end-market

1,244

593

395

410

1,279

Diversified equipment portfolio and end-markets

1 Total including € -11 m for corporate center / consolidation

Leveraging automation and digitalization competence in different sectors

Sales in € m

65

63

23

40

83

53%

14%

33%

Σ 2019

3,921

Σ 2019

2631

Σ 2019

3,921

www.durr-group.com 8

Our solutions help our customers achieve efficient and sustainable production

Benefitting from global mega trends

FUNDAMENTAL TRENDS

Population growth Growing middle class Resource efficiency Environmental protection

© Dürr AG, CCI, Investor Relations Presentation, December 2020

Market specific trends Dürr Group

E-mobility Supporting automotive transformation

Paint shop supplier of choice for EV-start-ups

Assembly, balancing and battery production

Automation + digitalization Leading innovative solutions

Maximize OEE by high availability, digital products/AI

Leading automation competence

Individualize production (batch-size 1)

Tightening emission standards Sustainable production enabler

Low emission + consumption solutions

Global no. 1 in exhaust-air purification technology

Growing demand for wood as material Strong & growing position in woodworking machinery

Leader in equipment for furniture production

Expanding into solid wood processing systems

Automation, digitalization and sustainability are key drivers for Dürr’s business


Target benchmark position in international mechanical and plant engineering sector

Improve EBIT margin Achieve attractive ROCE

Our mid-term goals: raising margins and returns

2020F2011 mid-

term

20192015

5.5%

7.1%

5.0%

0% - 0.5%

2011

1,922

2015 2019 2020F

3,767 3,922 3,200 –

3,400

mid-

term

mid-

term

2011 2020F2015

16.9%

2019

30.4%

45.3%

0% - 1.5%

+2 to 3% p.a.

+ M&A

>= 25%

€m

WACC = 8.4%

(2019)

Sales growth: Organic + M&A

Continued growth at improved margins and returns

>= 8%


Strengthening our competitiveness and actively addressing growth opportunities

Strengthening our competitiveness

Capacity adjustments, lowering break-even point

Localization of production processes

Global supply chains

Standardization of product portfolio

Lean and digitalized internal processes

Lean organization and management structure

Actively managing our portfolio

Offering significant value add to customers through

innovation and digitalization

Our levers for margin and revenue growth

We improve margins by Top-line growth is achieved by

Growing market shares in Clean Technology Systems

and Woodworking and Machinery Systems, organically

and through bolt-on acquisitions

Leveraging emerging opportunities in battery

production and timber frame house construction

Constantly screening plant and mechanical

engineering industry for M&A opportunities to further

broaden portfolio

Growing the service business to 30% mid-term (from

28.5% in 2019)

Digitalization and growing software business

Clear and manageable action plan for profitable growth


Weathering the storm

Corona pandemic impact on operations

Global uncertainty,

especially in automotive

industry

9M orders -19%


and Systems and Clean

Technology Systems less

affected

Increased orders and

pipeline since June 2020

Muted automotive

recovery in Europe

Orders

Limited site closures in

Brazil, India and USA

Execution partly muted

due to travel restrictions

9M sales -15%

Weak Q2 order intake to

impact Q4 revenue and

EBIT at Woodworking

Machinery and Systems

Sales

Underutilization caused

negative EBIT in Q2

Strong cost cutting with

short-time work etc.

Restructuring due to

European automotive

overcapacities with up to

€ 35-45 m one-offs in

2020; annual savings of

about € 30 m from 2021

onwards

2020 expected with 2.5-

2.8% op. EBIT margin

Earnings

Very solid funding

situation

Total liquidity (cash +

time deposits) at record

level (€ 960 m)

Unused credit lines of

€ 850 m available in

addition

Financial

situation

Our five divisions


Enabling efficient painting and final assembly of cars and trucks

Paint and Final Assembly Systems (PFS)

Characteristics

Customers • Automotive OEMs and new EV start-ups

Products • Turn-key paint shops (75% of revenue)

• Final assembly technology (e.g. marriage)

Order types • Big ticket greenfield projects > €m 80

• Brownfield upgrades

Success factors

@ Dürr Group

• Leading technology & shopfloor competence

• Best in class order execution

• Strong consulting and services

• Existing localization of supply chain / production

Market potential • New EV-players, aging installed base

• Brownfield upgrade to more efficient technologies

Business type • Plant engineering and consulting

Strategy • Defend market share and improve margins

Attractiveness • Asset light -> high ROCE potential

Strong market share in a business with high ROCE potential


High-end robotics meets perfect application solutions

Application Technology (APT)

Characteristics

Customers • 90% of business with automotive OEMs and new

EV-startups

• General Industry (industrial painting)

Products • Robots for painting, sealing and glueing

Order types • Greenfield and brownfield projects (10-30m€)

• Upgrades and replacement

Success factors

@ Dürr Group

• Efficient application solutions (50% market share)

• High availability supported by digital & AI

• Innovation leader (e.g. overspray-free application)

Market potential • New EV-players, brownfield upgrades

• Robot replacement cycle has begun

• Strong service business

Business type • Mechanical engineering and component business

Strategy • Defend market share and improve margins

Attractiveness • Technology driven high margin business

• High market entry barriers

High margin potential due to leading technology and resource efficiency


For the world of tomorrow: clean air, less noise, more e-drives

Clean Technology Systems (CTS)

Characteristics

Customers • 80% general industry (mining, printing, chemistry,

pharmaceuticals, woodworking), 20% automotive

Products • Air pollution control and noise abatement systems

• Coating lines for battery electrodes

Order types • Projects, both greenfield and upgrades

Success factors

@ Dürr Group

• Market position push due to Megtec/Universal

• Simultaneous two-side electrode coating

• Strong position in battery coating systems

business thanks to Techno Smart cooperation

Market potential • Tightening emission regulations

• Ramp-up of battery production capacities

Business type • Plant engineering and component business

Strategy • Grow market share, realize synergies

Attractiveness • Asset light with growth and return potential

Supplying essential technologies to lower emissions and build batteries


World market leadership in balancing machinery niche

Measuring and Process Systems (MPS)

Characteristics

Customers • Automotive, aviation, turbines, general industry

Products • Balancing and diagnostic systems

• Filling technology, e.g. for household appliances

Order types • Single machine business

Success factors

@ Dürr Group

• Leading technology with 45% market share

• More than 100 years expertise in balancing

• Cutting-edge digital solution for production control

Market potential • Localization of aircraft production & maintenance

• Balancing of EV-engines

• Strong service potential

Business type • Mechanical engineering / instrument business

Strategy • Differentiate through software and digitalization

Attractiveness • High margin potential

High quality balancing from small rotors to large power plant turbines


World market leading equipment for efficient furniture production

Woodworking Machinery and Systems (WMS)

Characteristics

Customers • Furniture industry, construction supplies, timber

processing and timber home construction

Products • Full range from stand-alone machines through to

automated production lines & complete factories

Order types • Turnkey projects and single machine

Success factors

@ Dürr Group

• Strong footprint in China, USA and Europe

• Superior automation and digitalization know-how

Market potential • Individualization (batch-one production)

• Digitalization (from smart assistants to fully

automated production)

• Consolidation (demand for large systems)

Business type • Mechanical and plant engineering

Strategy • Realize margin potentials, grow market share,

build-up cross-laminated timber business

Attractiveness • Strong margin potential (9% EBIT in 2023)

Benefitting from global demand growth for furniture and housing

Group strategy


Dürr mid-term strategy for profitable growth

Global Presence

Innovation

Efficiency

Life Cycle Services

FOUR

STRATEGIC

FIELDS

Sustainability

M&A

Finance Organization

People Development

FOUR

ENABLERS

digital@DÜRR: Driving digitalization is at the core of our strategy


Key drivers for profitable growth and raising earnings

Focus on four strategic field

Global business with

local supply chain

Strong regional set-up

(North America, Asia,

Europe)

Expand Southeast Asia

GLOBAL

PRESENCE

Technology leader with

software as differentiator

Enter new business

fields supported by trends

Efficient & sustainable

products

INNOVATION

Drive synergies, esp.

scale, processes,

standardization/costs

Lean and agile

organization

Optimize global footprint

EFFICIENCY

Leverage vast installed

base

Strengthen brownfield

business

Optimize life cycle by

using asset data

intelligence

LIFE CYCLE

SERVICES

We are positioning ourselves to optimum effect in four strategic fields

www.durr-group.com

Modern Dürr Campus

© Dürr AG, CCI, Investor Relations Presentation, December 2020 21

Stay close to the customer and maintain a competitive value chain

Global presence is an important differentiator

We are continuously strengthening the localization of our business

Sell, engineer, plan & build

Complete local execution

Collaborate at one place

Global Sourcing

Local sales channel

e.g. acquisition of HOMAG China GF

45%

55%

Emergingmarkets

Establishedmarkets

Sales

2019

Schenck Shanghai

Become faster & more cost efficient

Example China


Increasing OEE and resource efficiency makes production more sustainable

Improving our customer’s business through innovation

#1 in innovation: Process knowhow paired with automation and digitalization competence

Reinventing paint shops

Break-up rigid production lines with fixed cycles

Introduce modular box and short-line concept

Increase OEE and throughput of the plant

Less space needed – save building invest

Flexible capacity expansion – ideal for start-ups

Example: Modular & scalable box concept

Maximizing uptime utilization

Exterior and interior paint application in one box

Maintenance cabins reduce downtime significantly

Additional technologies can be added (e.g. EcoPaintJet)

Example: EcoProBooth


Realize potentials of acquired businesses

Driving margins 1/2

Pulling all levers to reach 9% EBIT-margin at HOMAG in 2023

€ 20 m Bring it up: Measures after intensive process review

− Right size: Reduction of German overcapacity (350 employees)

− Digital boost: Order fulfillment overhaul incl. ERP-IT systems

− Execute: New production system (assembly/lead times -7% p.a.)

− Streamline: Reduce complex process landscape

− Standardize: Modular machine designs

− Leverage: Volume advantage in purchasing

Expand local value add in China; localized products for B-segments

HOMAG China Golden Field acquisition (local sales channel)

Leading position in digital products

Market share wins, strongly supported by improved cost position 9%EBIT-margin

in 2023

Example: WMS / HOMAG

cost savings from

2021 onwards


Efficiency and production improvement

measures initiated at HOMAG in Q4 2019

targeting € 20 m savings in 2021

Continuous improvement measures, e.g.

already executed site closures at

Karlstein (APT) and Goldkronach (CTS)

yielding € 10 m savings in 2021

Measures announced in July in Europe

targeting € 30 m lowering of breakeven

point in 2021

2020: Extraordinary expenses of

€ 75 - 85 m expected (incl. PPA)

Driving margins 2/2

-37

-19

-38 - -48

~6020202019 2021

Ch

arg

es

Co

st

redu

ction

Total savings

Charges

-57 to -67

in € m

Total cost reduction of ~ € 60 m p.a. targeted from 2021

Actual

9M

To come

Q45 5


Well structured approach to increase company value

Disciplined M&A process

Constantly looking for M&A opportunities on top of organic growth potential

Constantly exploring market for

opportunities:

− Dedicated small M&A-team runs

comprehensive selection process

− Evaluating market size and growth

potential, entry barriers, cyclicality

and competition

M&A types

− Cross-divisional: Technology and

skills (e.g. software know-how)

− Bolt-on: Expand know-how or size

− Complementary: Reinforce business

or establish new division

Mechanical and plant engineering (DNA)

Sales of over € 500 million

Niche market, leading market and

technological position

Not in need of restructuring but offering

potential for improved earnings and

synergetic effects

Criteria for new division

www.durr-group.com

Increase of investment to 100%


Dürr Group portfolio composition follows clear vision

Track record of successful M&A

Enabling growth while focusing on essentials

Build-up cross-laminated-timber

activities

Megtec/Universal acquisition 2018

Expand product and customer

portfolio in CTS

HOMAG acquisition 2014

Diversify business portfolio with new

division WMS

EcoClean desinvestment 2016

Disposal of cleaning and surface

processing systems

Techno Step acquisition 2020

Specialist for process data analysis

and diagnosis

iTAC Software AG 2015

Increase MES and IoT competence,

member of the Dürr Digital Factory


Focus on cost control and liquidity management

Disciplined financial management

Solid financial position to weather the Corona crisis and pursue strategic options

Solid financial position with low leverage ratios

Low pension liabilities

Ample financial flexibility to pursue M&A opportunities

History of operating at cash or low net debt levels

in € m1 2017 2018 2019

EBITDA 367.7 326.9 308.5

Leasing liabilities* 5.8 7.2 107.1

Pension liabilities 49.8 50.1 59.0

Net debt excl. leasing & pensions -182.1 -39.5 -7.8

Ratio to EBITDA -0.50 -0.12 -0.03

Net debt reported (incl. leasing*) -176.3 -32.3 99.3

Ratio to EBITDA -0.48 -0.1 0.32

Net debt incl. leasing* & pensions -126.5 17.8 159.3

Ratio to EBITDA -0.34 0.05 0.51

in € m1 2017 2018 2019

EBITDA 367.7 326.9 308.5

Change net working capital -178.5 -51.6 -64.8

Repayment leasing liabilities* -3.1 -1.1 -27.4

Interest payments -17.9 -12.0 -20.2

Tax payments -74.8 -93.0 -64.2

Others +8.4 -11.5 -7.6

Free cash flow before investments 101.9 150.3 124.3

Net investments (Capex & M&A) +15.6 -207.3 -85.1

Dividends -77.3 -80.8 -74.3

Strong cash flow potential

Low interest payments

Relatively low capex intensity

Potential through stabilization of net working capital

Sufficient liquidity and cash flow to finance growth and dividends

* Increase of leasing liabilities due to first time application of IFRS 16 in 2019

Digitalization –

adding value through

smart apps


Our digitalization strategy - digital@DÜRR

Digitalization creates value for our customers and for us

+ ++

Vision: Leader in digitalization in the Dürr Group´s business areas

Mission: Data-driven software products, solutions & business models

Objectives: New revenue streams + differentiation + disruption protection

Strategy:

Develop and expand software competencies

Develop customer oriented software solutions with new digital technologies

Introduce new business models to the customer

Exchange for synergies, learning effects and support within Dürr subgroups

Strengthen IoT networks (ADAMOS, tapio)

Drive internal digital transformation

Software

Competence

New Business

Models

Partner

Network

Internal

Transformation

Smart

Products

Smart

Processes

Smart

Factories

Smart

Services


Great reference and potential for cross and upselling of digital products

Building upon large MES installation base

Dürr incl. ITAC with > 500 MES

installations across different industries

> 250 automotive OEM and Tier-1/2

installations

~ 75% software installations without

hardware

Even automotive OEMs with competitor

hardware count on Dürr for MES solutions

> 40 automotive OEMs using Dürr

digital products

An MES (Manufacturing Execution System) allows to digitally track, control

and improve production processes based on real-time and historical

production data = Backbone of an Industry 4.0 factory.i

Leveraging today’s widespread use for tomorrow’s transformation


ADAMOS cooperation platform for digitalization

ADAMOS IIoT: Scalable technology to develop apps

− Focus on mechanical and plant engineering industry,

providing elementary infrastructure and basic

functionalities

ADAMOS STORE: The marketplace for the industry

− ADAMOS partners offer their digital portfolio

− Standardized sales processes and shop-in-shop options

shorten time-2-market and ensure scalability

ADAMOS HUB: Transparent management of data & apps

− All together: Data from different machines and apps

− Manufacturer-independent and simple management of

data and apps in one single system

ADAMOS shareholders and partners

Mechanical and plant engineering firms

Component manufacturers

Plus consulting partner, implementation partner,

connectivity partner, research partner

ADAMOS: Strategic alliance of mechanical engineering firms shaping digitalization


Leveraging installed base and grow smart digital applications

Growing business with life cycle services

Software services using AI with clear benefits to the customer

Combined teams of software and paint process

specialists – joint forces of both shopfloor and digital

know-how

Better quality: Software recognizes problems

earlier than staff

Higher plant availability: Problem cause detected

faster with support of artificial intelligence

(comparing actual production data with historical

patterns)

Innovative maintenance: Actual production data

analysis allows smart prediction of remaining lifetime

scheduled replacement; reduced downtime

Example: Smart DXQ software tools to boost efficiency


The digital platform for the full value chain

tapio – the open wood industry ecosystem

tapio allows fully digitalized production processes across the value chain

Mission: Drive digitalization of the wood industry

Offering:

− Common platform for machine, tool and material manufacturers

− Central app store open to everybody

Customer benefit: Enable fully digitalized production processes for

all machinery – HOMAG and competitor’s

HOMAG leverages its leading know-how in digitalization to

accelerate the digitalization of woodworking machinery

Who’s in: 41 business partners ensuring state of the art solutions

along the production process, e.g. HOMAG, Festo and Henkel

The tapio ecosystem


Optimization on demand with innovative HOMAG software

Smart apps as drivers for production efficiency

Faster & less waste: intelliDivide boosting sustainability and efficiency

Let’s you choose what you want to optimize:

Maximum throughput or minimum waste

Replaces manual calculation by a single click

Cloud-based high-performance app intelliDivide

− Rapid calculation of cutting plans – based on customer’s

equipment

− Options include e.g. priority for speed or waste

− Software as a service – no investments needed for customers

− Cutting plan data can be used in next production step with

productionAssist Cutting

Example: intelliDivide

Sustainability –

efficiency and enabling

transformation


Holistic sustainability framework across five fields of action

Dürr Group Corporate Sustainability

Engagement &

SocietyEmployees &

Qualification

Products &

Services

Management &

Governance

Value Creation &

Supply Chain

Global innovation and

technology leader supporting

our customers with sustainable

production solutions & services

Reduction of environmental

impact during our own value

creation while assuring a

transparent supply chain

Attractive, fair and responsible

employer with various career

opportunities and offers for

people development

Corporate strategy geared

towards profitable growth,

sustainable businesses and

responsible management

Socio-economic contribution

through social engagement,

partnerships and participation

in global initiatives

Addressing all stakeholder groups


Organizational set-up and responsibilities within the Dürr Group


Supervisory Board

Deputy CEO (Dr. Jochen Weyrauch)

Team Corporate Sustainability

Global Sites

informs advises and monitors

Human Resources

Environmental Committee Health & Safety ComplianceCommunication & Investors Rel.

Research & Development PurchasingFinance

Central Group Functions

Risk Management

Sales

Sustainability Council

sends cross-functional heads

reports to chairs

reports to instructs

informs and consults

decides and evaluates

informs and reports on activities

Well organized corporate governance structures


Continuous improvement and extension of our sustainable product portfolio


0%

20%

40%

60%

80%

100%

Classic WetSeparation

DryScrubber EcoProBooth

Energy consumption

-60%

-40%

Next generation

German federal funding program for measures to optimize

the energy efficiency of commercial plants and processes.

Potential for replacement of over 30 classic wet separation

plants in Germany through dry separation technology.

Example EcoDryScrubber: Significant energy and water savings

v

Dürr’s dry separation system for

paint overspray does not require

water or coagulation chemicals,

thus eliminating the need for

wastewater treatment

–50% Energy

–80% Water

EcoDryScrubber


Battery manufacturing technology as key enabler for global e-mobility growth


Dürr is a strong partner along

the entire value chain of battery

production as well as paint

technology for electric vehicles.

Electrode

Manufacturing

Module

Assembly

Battery Pack

Assembly

Battery

Integration

Consulting

Dürr Group supports transformation towards e-mobility

+


EV newcomers – new technologies require new equipment solutions

Enabling transformation to e-mobility

Higher Dürr equipment input with e-mobility than with ICE

Less complex powertrain: more automation in final

assembly

Larger model variety: flexibilization of production plants

EV car body geometry: more need for overspray-free

painting (EcoPaint Jet) and new oven technology

(EcoInCure)

Battery cooling: filling of refrigerants

Battery assembly: battery gluing, gap filling

Battery cell coating

Balancing and spin testing of e-drives

Dürr EV business benefiting from

ICE E-mobility

Painting neutral

Final assembly More business

Drive + battery manuf. - Add. business

Balancing Less business

Filling neutral

Testing neutral

✔

✔

✔

✔

✔

✔

✔

✔

✔

✔

✔

Dürr equipment input: Comparison ICE vs. e-mobility


EV newcomers – Additional customers, EV still at the beginning

E-mobility is a growth driver

Dürr Group: approx. 30 new customers due to e-mobility

New car plants needed

Newcomers need experienced partners like Dürr

Pragmatic cooperation, less complex project execution

Opportunities ahead as EV large series production is still at

the beginning

ICE exposure reduced: sale of Dürr Ecoclean in 2017

Dürr Group e-mobility order intake after 9M 2020 almost on 2019 full year level (only pure EV customers)

E-mobility is an opportunity for Dürr

Source: P3

355

390

0 50 100 150 200 250 300 350 400

9M 2020

2019 full year

4%

13%

6%

2018

3%

3%

10%

2020

3%

15%

2025

4%

28%

HEV / FCEV

PHEV

BEV

Market development

%-share of global new vehicle registrations per year

in € m


HOMAG actively supporting the megatrend towards sustainable building


Forestry

Primary

Processing

Beam

Processing

Timber House

Production

Timber House

Construction

“Our buildings generate 40% of our

emissions. They need to become less

wasteful, less expensive and more

sustainable. And we know that the

construction sector can even be

turned from a carbon source into a

carbon sink, if organic building

materials like wood and smart

technologies like AI are applied.”

Dürr Group supports transformation to more sustainable construction

50%of all public buildings in France

to be constructed using wood from 2022.


Enabling transformation to sustainable constructionMegatrend sustainable construction opens up chances

Google, Amazon

Microsoft

1.1 millioncubic feet of CLT will be used

for the new Walmart

headquarter.

Up to 18 floorsHigh buildings constructed with

wood permitted in the US as of

2021

Source: Youtube video Cre LCT-System DE, Urbaner Holzbau, Schriftenreihe Forst BW, Bd. 86

Every 5 secwoods in Germany grow by

one single-family housing80t

CO2 are bound in

a wooden house – would be

emitted with traditional construction

Up to 90%CO2 reduction compared to

traditional construction methods

100-200ylifespan of buildings with

immense degree of

recycling potential

Wood plays an important role in reducing the carbon footprint of construction


Solid wood construction market growthOn the way to become a leading full solution provider

Machinery market development

235 314 295 325 365 386

395 308195

265365

435

485 545

455

578

600622

20212017 2019

1.167

2020 20252023

1.115

945

1.168

1.3301.443

3.3% CAGR

Timber Processing MassTimber House building

Process chain construction elements

House BuildingTimber Processing Mass Timber

Source: Innomis; competitor reporting, Androschin&Partner, Holzkurier &

own estimations

Solutions

System TM acquisition strategic partnershipAnnual consolidated

sales

~ € 30 m

Annual consolidated

sales

~ € 45 m

HOMAG Group to be the turn-key systems partner from the sawmill to

housebuilding

strategic

partnerships &

acquisitions

Expanding coverage of value chain in a fast growing market

Results 9M 2020

www.durr-group.com:

Positive momentum in order intake in Q3 reduces gap to prior year to below 20% for 9M 2020

Improvement of EBIT-margin before extraordinary effects by 1.1% pts. compared with H1 2020

Huge swing in operating cash flow compared to 9M 2019


KPI development 9M 2020 vs. 9M 2019

Incoming orders

2,860

2,309

-19%

2,874

Sales revenues

2,431

-15%

172

64

EBIT before

extraord. effects

-63%

102

13

-87%

-61

188

+406%

Operating cash flow

6.0%

2.6%

3.6%

0.5%

9M 20209M 2019 Margin

Beginning recovery after Covid-19 induced downturn in Q2

Net profit

in € m


Momentum starts to build outside China

453

915

431

723

338

586479 521 531

192

Total China Asia (w/o China),

Africa, Australia

Americas Germany Europe (w/o

Germany)

2,860

2,309

-19%

+29%

-48%

21%

-27%

-43%

Large order received from premium

automotive OEM in Germany in Q3

Continued positive momentum in China

Decline in Americas and Asia (w/o China) due

to major orders in Q1 2019

9M 2019 9M 2020

Order intake

Increasing number of projects are being discussed

in € m


Paint and Final Assembly Systems & Application Technology

9M / Q3 2020 reporting

Paint and Final Assembly Systems Application Technology

9M

2020 Δ1

Q3

2020 Δ1

9M

2020 Δ1

Q3

2020 Δ1

797.0 -17.5% 306.8 9.1% Order intake in € m 312.8 -31.4% 119.1 -21.2%

854.2 -18.6% 279.7 -23.6% Sales revenues in € m 325.9 -23.7% 107.3 -31.0%

24.7 -51.2% 10.5 -47.5% EBIT in € m 5.9 -86.7% 6.9 -57.4%

2.9

-1.9

ppts 3.7

-1.7

ppts EBIT margin in % 1.8

-8.5

ppts 6.5

-4.0

ppts

28.0 -46.7% 12.3 -39.7%

EBIT before extra-

ordinary effects in € m 10.1 -77.1% 8.2 -49.7%

3.3

-1.7

ppts 4.4

-1.2

ppts

EBIT margin before

extraordinary effects in % 3.1

-7.2

ppts 7.6

-2.8

ppts

15.1

-17.0

ppts 19.2

-18.8

ppts ROCE2 in % 3.1

-15.6

ppts 11.1

-9.7

ppts

Strong sequential increase in Q3 order intake

Cost reduction limits low sales impact on earnings

Solid project execution

Restructuring mainly in Q4 (Q3: €1.4m only)

9M / Q3

2020

Order intake in Q3 exceeding Q1 level – incl. EVs

Service improved with auto production figures

EBIT-margin shows strong improvement in Q3

Restructuring mainly in Q4 (Q3: €1.2m only)

1 adjusted for Automotive Filling and Testing Systems (FY 2019: sales € 172 m; EBIT € 17 m), transferred to Paint and Final Assembly Systems as of 1/1/20202 annualized


Clean Technology Systems & Measuring and Process Systems


Clean Technology Systems Measuring and Process Systems

9M

2020 Δ

Q3

2020 Δ

9M

2020 Δ1

Q3

2020 Δ1

309.0 -7.5% 93.1 -26.1% Order intake in € m 127.6 -34.8% 37.6 -41.0%

277.7 2.1% 99.6 8.8% Sales revenues in € m 139.2 -17.2% 46.7 -22.4%

5.5 25.6% 6.6 75.9% EBIT in € m -5.4 -139.6% -0.7 -110.9%

2.0

0.4

ppts 6.6

2.5

ppts EBIT margin in % -3.9

-11.9

ppts -1.6

-12.8

ppts

12.2 2.5% 8.1 21.6%

EBIT before extra-

ordinary effects in € m -1.2 -108.3% 3.2 -52.8%

4.4

0.0

ppts 8.1

0.9

ppts

EBIT margin before

extraordinary effects in % -0.8

-9.3

ppts 6.9

-4.4

ppts

6.0

2.5

ppts 21.6

12.6

ppts ROCE2 in % -4.1

-10.2

ppts -1.7

-10.7

ppts

Sales and EBIT growth driven by solid demand

Q3: margin high since Megtec/Universal acquisition

Slower order intake in Q3 after strong H1

9M / Q3

2020

Stabilization of order intake at low levels

Cost reductions and service recovery lead to

improved margins compared with H1

€ 3.9 m restructuring charges in Q3

1 adjusted for Automotive Filling and Testing Systems (FY 2019: sales € 172 m; EBIT € 17 m), transferred to Paint and Final Assembly Systems as of 1/1/20202 annualized


Woodworking Machinery and Systems & Dürr Group service business


Woodworking Machinery and Systems Service Business Dürr Group (included in divisions)

9M

2020 Δ

Q3

2020 Δ

9M

2020 Δ

762.9 -15.9% 269.7 -14.8% Order intake in € m

833.4 -12.9% 281.9 -11.9% Sales revenues in € m 672.7 -17.4%

8.4 -83.8% 4.9 -71.0% EBIT in € m

9M service

share:

27.7%

1.0

-4.4

ppts 1.7

-3.6

ppts EBIT margin in %

20.8 -64.5% 10.1 -47.5%

EBIT before extra-

ordinary effects in € m

2.5

-3.6

ppts 3.6

-2.4

ppts

EBIT margin before

extraordinary effects in %

2.7

-11.2

ppts 4.8

-8.9

ppts ROCE1 in %

Q3 orders up 41% vs. Q2 – signs of systems revival

Q3 sales benefitted from solid order backlog

Optimization on track

Q4 sales/EBIT likely impacted by weak Q2 orders

9M / Q3

2020

Service recovery supporting Q3 earning especially

at APT and MPS

Q3 service margin on last year’s level

1 annualized

43 %38%

19%

Spare parts

Modifications

Other Service

www.durr-group.comÄndern der Fußzeile: © Dürr AG, CCI, Investor Relations Presentation, December 2020 51

Stable net working capital development

DWC stabilized within target range of 40 to 50 days

530603

649

503 477410 426

50

5861

51

46 47

Q2 Q4Q3Q1

46

Q3Q1 Q2

DWC NWC

20202019

in € m

in € m 09/30/2020 12/31/2019 09/30/2019

Inventories and prepayments 523.7 509.2 562.3

+ Total trade receivables 532.8 586.1 618.6

+ Total contract assets 388.8 519.1 560.7

-

Trade payables (incl. liabilities from

notes payable) 430.5 479.0 534.9

- Total contract liabilities 589.2 632.7 558.0

= Net working capital 425.6 502.7 648.8

DWC 47.3 46.1 60.9

Key aspects Q3

Customer payments continue to be solid

Contract liabilities above prior year level

NWC well below prior year’s level


Net financial status back on Q1 level

Carefully managing net debt levels during the pandemic

20202019

in € m

in € m 09/30/2020 12/31/2019 09/30/2019

Total liquidity 959,9 822,1 623,7

- Gross Debt -1.024,2 -921,4 -925,2

= Net financial status -64.3 -99.3 -301.5

-99-65 -64

12%

-302

-144

-310

Q4Q1

24% 23%

Q2 Q3

9% 6%

Q1

11%

-121

Q2

6%

Q3

Gearing

Net financial status

Key aspects Q3

Net financial status improved due to solid free cash flow

generation

Net financial status includes € 95.6 m leasing liabilities

Low level of gearing maintained

www.durr-group.com:

in € billion*


Maturities well covered with cash and free credit lines

Comfortable liquidity headroom

0.0

1.5

0.5

1.0

2.01.8

Available funds Financial liabilities

< 12 months

0.45

Cash credit facilities

Money markets Bond

Cash and cash equivalents Schuldschein loans

Bilateral loan

0.0

0.1

0.4

0.2

0.3

0.5

20282020 2021 20262022 2023 2024 2025 2027 2029 2030

Bilateral loan

Schuldschein loans

Bond

Without leasing liabilities or accrued interest

Credit facilities unutilized: € 350 m maturing in 2021 (extension option 1 year) and € 500 m maturing in 2024.

Other financial liabilities not included

* Figures as of 30 September 2020, not taking into account the € 150 m convertible bond issued 1 October 2020 maturing in

2026

Maturity profile

Maturities well covered with cash and free credit lines


€ 150 m Convertible Bond issue *

Rationale:

Increasing financial flexibility in consideration of interesting

M&A opportunities and upcoming maturities in 2021

Diversification of financing instruments in view of

continued investments into profitable growth

Leveraging increased share price volatility to reach

relatively low coupon

Funding base further strengthened

Increasing flexibility to engage in attractive growth opportunities

Convertible bond overview

Size: € 150 m

Maturity: January 2026

Coupon: 0.75 % p.a.

Conversion premium: 40%

Conversion price: € 33.22

Sustainability link by interest swap

*The convertible bonds have been placed with qualified institutional buyers (QIBs) only and the information above does not

constitute an offer or a solicitation of an offer to purchase securities of the Company or any of its subsidiaries in the United

States of America, Germany or any other jurisdiction.

Outlook


But slow recovery in short-term: 2019 levels to be reached in 2023

Long-term growth in car production

in m units1

70

0

30

40

80

10

60

20

90

100

50

110

24.4

2019

22.7

22.1

2.0

31.2

1.9

17.6

2020e 2027e

15.3

3.4

88.9

74.1

23.2

19.5

20.9

16.6

22.1

23.8

103.7

-16.6%

CAGR

+4.9%

Other EuropeAsia (without China) China Americas1 Light vehicles production

Source: LMC Automotive

Last update: October 2020


Sequential market recovery with 2019 levels to be reached in 2023

Woodworking machinery market recovery

2015 2016 2017 2022e2020e2018 2021e

3.3

2019 2023e

3.5

4.0

2024e

3.4

3.94.2 4.1

3.63.8

4.1

-1%-20%

8%

4%

Market Volume [in € billion]

Woodworking Machinery and Systems1

1w/o Construction Element Solutions

Source: Innomis, CSIL, regional market expectation, competitor information | e = expected

First signs of next investment cycle become visible


Guidance resumed as business recovers; new targets defined for 2020

Targets 2020

1 on property, plant and equipment and intangible assets (excluding acquisitions)

Actual 2019 Targets* 2020

Incoming orders in € m 4,076.5 3,100 – 3,400

Sales revenue in € m 3,921.5 3,200 – 3,400

EBIT margin in % 5.0 0 – 0.5

EBIT margin before extraordinary effects in % 6.7 2.5 – 2.8

ROCE in % 16.9 0 – 1.5

Earnings after tax in € m 129.8 -40 – -10

Operating cash flow in € m 171.9 70 – 120

Free cash flow in € m 44.9 -40 – +10

Net financial status in € m (12/31) -99.3 -230 – -180

Capital expenditure in € m1 102.6 75 – 85

* as updated in July 2020


Order intake

(in € m)Sales (in € m) EBIT margin (in %)

2019 Targets* 2020 2019 Targets* 2020

2019

reported

Targets*

2020

reported

2019

before e.e.**

Targets*

2020

before e.e.**

Paint and Final Assembly

Systems 1,515 1,100 – 1,200 1,416 1,100 – 1,200 5.6 0.3 – 1.3 5.7 3.0 – 4.0

Application Technology 641 480 – 530 593 470 – 510 9.6 -1.7 – -0.7 10.7 3.1 – 4.1

Clean Technology

Systems 449 380 – 420 395 380 – 420 3.1 2.2 – 3.8 5.9 4.7 – 6.3


Systems 252 170 – 190 239 190 – 210 9.1 -2.5 – -1.5 9.8 -0.4 – +0.6


and Systems 1,220 950 – 1,050 1,279 1,050 – 1,150 2.9 -0.1 – +0.9 6.5 1.3 – 2.3

Targets 2020 breakdown by division

** Extraordinary effects* as updated in July 2020


Diversified equipment supplier with leading positions in global niche markets

Dürr Group: Key take-aways

Leading production efficiency for profitable growth

Balanced portfolio: Automotive, woodworking and

environmental technology

Industry leader in innovation and digitalization

Strong project execution and shopfloor know-how

Clear strategy for profitable growth supported by global

megatrends

Solid financial position and strong ROCE potential


Financial calendar

Andreas Schaller

[email protected]

+49 7142 78-1785

Mathias Christen

[email protected]

+49 7142 78-1381

Dürr Corporate Communications & Investor Relations contact

Stefan Tobias Burkhardt

[email protected]

+49 7142 78-3558

November 2020

11/09/2020 UBS European Conference (virtual)

11/10/2020 Baird - Global Industrial Conference (virtual)

11/16/2020 Capital Markets Day 2020 (virtual)

11/17/2020 German Equity Forum (virtual)

11/19/2020 LBBW German Company Day (virtual)

11/24/2020 DZ Equity Conference, Frankfurt (virtual)

December 2020

12/01/2020 Quirin Conference, Geneva

12/01/2020 GS Industrials Conference, London

12/02/2020 Berenberg European Conference, Pennyhill Park

January 2021

01/11/2021 Commerzbank German Investment Seminar

01/12/2021 BofA SMID Cap Conference

01/19/2021 German Corporate Conference Kepler UniCredit

February 2021

02/25/2021 Preliminary figures for fiscal 2020

March 2021

03/18/2021 Annual report 2020

May 2021

05/06/2021 Annual general meeting HOMAG Group AG

05/07/2021 Annual general meeting Dürr AG

www.durr-group.com:

Appendix



Digitalization: Vision, mission, objectives & strategy

Vision

Mission

Objectives

Strategy

Leader in

digitalization

Data-driven software

products, solutions &

business models

New revenue stream,

differentiation,

disruption protection

Soft-

ware

Compe-

tence

Intelligent

products

and

services

Internal

Trans-

formation

Partner

Network

Digital

market-

places


Increasing number of robots reaching their average lifetime

40%

42%

18%

Service type in % of revenues 2019

Modifications and upgrades

Spare parts and repairs

Maintenance, assessments, seminars

Service and replacement cycle

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Number of paint robots sold (cumulative figure)

Paint robot lifetime: ~ 15 years


Dürr is the market leader in its niche markets

Market share Dürr Group / competitors1

1 own estimates

Paint and Final Assembly

Systems

PaintDürr ~40%, Automotive Engineering Corporation (Scivic), Taikisha/Geico

Local competitors: AE, Giffin, Gallagher Kaiser, Trinity (Toyota), Georg Koch, Wenker, Sturm

Final

Assembly

Dürr ~20-25%, Rofa, Automotive Engineering Corporation (Scivic), Siemens, AFT, Axmann,

local competitor: Sturm

Testing Dürr ~35%, Burke Porter Group, Fori

Filling Dürr ~45%, Fives, SAT

Application Technology Dürr ~50%, ABB, Fanuc, Yaskawa, local competitor: Doolim

Clean Technology

SystemsDürr ~25%, Anguil, Atea, Krantz, CTP


SystemsDürr ~45%, CEMB, Kokusai


and SystemsDürr 31%, Biesse, scm group, Schelling/IMA, local competitors: Nanxing, KDT


Comprehensive view of top- and bottom-line, cash flow and return

The most important performance

indicators at Dürr

− Incoming orders

− Sales

− EBIT

− ROCE (EBIT/Capital employed).

− Cash flow from operating activities

− Free cash flow

− Economic Value Added (EVA)

Also non-financial performance

indicators pursued, e.g.

− Employee and customer

satisfaction

− Training/education

− Ecology/sustainability

− R&D/innovation

Value management

Key figures in €m FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Incoming orders 2,793.0 3,467.5 3,701.7 3,803.0 3,930.9 4,076.5

Sales revenues 2,574.9 3,767.1 3,573.5 3,713.2 3,869.8 3,921.5

EBIT 220.9 267.8 271.4 287.0 233.5 195.9

Operating

cash flow 291.3 173.0 227.4 119.8 162.3 171.9

Free cash flow 221.1 62.8 129.9 14.3 78.4 44.9

ROCE in % 38.7 45.3 41.1 38.6 24.0 16.9

EVA 121.6 146.2 142.5 142.7 76.0 39.5


in € m

2020 2019 2018

Q1 Q2 Q3 Q4 Ytd Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total

PFS -0.7 -0.7 -1.9 -3.4 -1.0 -0.5 -0.6 -0.5 -2.6 -0.5 -0.5 -0.5 -0.5 -2.2

thereof

PPA -0.5 -0.5 -0.6 -1.6 -0.5 -0.5 -0.5 -0.5 -2.2 -0.5 -0.5 -0.5 -0.5 -2.2

APT -2.2 -0.8 -1.3 -4.3 -0.1 0.0 0.0 -6.0 -6.2 -0.1 -0.1 0.0 0.0 -0.2

thereof

PPA -0.0 -0.1 -0.1 -0.3 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.0 -0.0 -0.2

CTS -3.0 -2.2 -1.5 -6.7 -1.9 -2.7 -2.9 -3.6 -11.2 -0.2 -0.2 -13.7 -6.1 -20.1

thereof

PPA -1.4 -1.6 -1.3 -4.3 -1.9 -1.9 -1.9 -1.8 -7.6 -0.2 -0.2 -0.2 -2.4 -2.8

MPS -0.1 -0.1 -4.0 -4.2 -0.4 -0.3 -0.1 -0.8 -1.6 -0.5 -0.3 -0.4 -0.4 -1.5

thereof

PPA -0.1 -0.1 -0.1 -0.3 -0.4 -0.3 -0.1 -0.1 -0.8 -0.5 -0.3 -0.4 -0.4 -1.5

WMS -3.5 -3.7 -5.1 -12.4 -2.2 -2.2 -2.2 -38.8 -45.3 -2.2 -2.2 -2.2 -2.2 -8.7

thereof

PPA -2.4 -2.4 -2.3 -7.1 -2.2 -2.2 -2.2 -2.2 -8.7 -2.2 -2.2 -2.2 -2.2 -8.7

CC 0.0 0.0 -1.0 -1.0 -0.3 0.0 0.1 0.0 -0.3 -2.3 -2.4 -0.5 -3.5 -8.7

Total -9.7 -7.4 -14.8 -32.0 -6.0 -5.7 -5.7 -49.8 -67.2 -5.7 -5.7 -17.3 -12.8 -41.4

thereof

PPA -4.5 -4.7 -4.4 -13.6 -5.1 -4.9 -4.8 -4.7 -19.5 -3.4 -3.3 -3.3 -5.5 -15.4

Overview: extraordinary effects


9M 2020 9M 2019 Δ Q3 2020 Q3 2019 Δ

Sales revenues in € m 2,430.5 2,874.1 -15.4% 815.3 993.7 -18.0%

Gross profit on sales in € m 459.7 626.0 -26.6% 156.7 211.9 -26.1%

Gross margin in % 18.9 21.8 -2.9 ppts 19.2 21.3 -2.1 ppts

EBITDA in € m 115.8 237.6 -51.3% 52.4 87.2 -39.9%

EBIT in € m 31.6 154.1 -79.5% 25.0 58.9 -57.5%

EBIT margin in % 1.3 5.4 -4.1 ppts 3.1 5.9 -2.9 ppts

EBIT before

extraordinary effects in € m 63.6 171.5 -62.9% 39.9 64.6 -38.3%

EBIT margin before

extraordinary effects in % 2.6 6.0 -3.4 ppts 4.9 6.5 -1.6 ppts

Net income/loss in € m 12.8 102.1 -87.5% 15.8 38.4 -58.8%

ROCE1 in % 4.1 15.3 -11.2 ppts 9.7 17.5 -7.9 ppts

Free Cash Flow in € m 105.3 -158.1 166.6% 61.0 23.4 160.9%

Net financial status in € m -64.3 -301.5 78.7% -64.3 -301.5 -78.7%

Employees 16,181 16,534 -2.1% 16,181 16,534 -2.1%

Overview of Key Financial Indicators

Strong earnings recovery q-o-q – solid free cash flow

1 annualized


in € m 2017 2018 2019 9M 2019 9M 2020

Incoming orders 3,803.0 3,930.9 4,076.5 2,859.5 2,309.4

Orders on hand 2,449.4 2,577.2 2,742.8 2,590.3 2,449.8

Sales revenues 3,713.2 3,869.8 3,921.5 2,874.1 2,430.5

Gross profit on sales 857.2 855.5 838.2 626.0 459.7

Gross margin in % 23.1 22.1 21.4 21.8 18.9

Selling expenses -308.9 -314.2 -337.6 -249.3 -219.1

General administrative expenses -176.2 -177.8 -190.6 -139.6 -130.5

Research and development costs -116.7 -121.0 -110.8 -84.7 -77.9

Net other operating income / expense +31.6 -9.1 -3.3 +1.6 -0.5

EBIT before extraordinary effects 283.7 274.9 263.1 171.5 63.6

EBIT reported 287.0 233.5 195.9 154.1 31.6

EBIT margin before extraordinary effects in % 7.6 7.1 6.7 6.0 2.6

EBIT margin reported in % 7.7 6.0 5.0 5.4 1.3

Net interest expense -19.8 -13.8 -21.2 -6.7 -10.8

EBT 267.3 219.7 174.7 142.4 17.9

Income taxes -67.6 -56.2 -44.9 -40.3 -5.1

Net income 199.6 163.5 129.8 102.1 12.8

Earnings per share in € (basic and diluted) 2.78 2.27 1.79 1.42 0.16

P&L overview


Key aspects Q3

All divisions contribute to Q3 recovery in sales revenues

CTS even reports y-o-y increase

Emerging market share of business grows

Sales revenues improve q-o-q

Moderate recovery of sales revenues as industry resumes production

in € m

Sales per region 9M 2020

950 931994

843773 815

1,047

Q4 Q2Q1Q1 Q2 Q3 Q3

-18% 6%

20202019

17%

22%

28%

12%

21%Germany

Asia (w/o China), Africa, Australia

Europe (w/o Germany)

Americas

China

0% pts.+2% pts.

+3%

pts.

-6% pts.

+1% pts.


Energy consumption ratio clearly reduced

data in relation to sales;

2010 = 100 2010 2017 2018 20191

Energy consumption 100 60.7 55.5 61.2

Water consumption 100 92.0 85.3 84.5

Total waste 100 123.3 119.1 136.0

CO2 100 70.7 66.4 71.9

R&D expense 100 153.6 152.9 138.1

Strong decrease of energy and water

consumption as well as CO2 emissions in

relation to sales

Due to focus on assembly processes relatively

low consumption and emissions

Dürr headquarter is a show case for energy

efficiency

New energy efficient campus buildings in US &

China

Measures implemented in all regions to reduce

ecological footprint

Key figures sustainability

1 2019 figures include effects from acquisition of Megtec/Universal


Key data of the share

WKN / ISIN 556 520 / DE0005565204

Bloomberg / Reuters Due / dueg

Class of shares Common bearer shares

Index category e.g. MDAX (Performance), CDAX (Performance), FAZ Index

Trading centers / stock exchange

Stuttgart (regulated market)

Frankfurt (regulated market)

Several open markets

Capital stock € 177.2 m

Number of shares 69,202,080

Market capitalization as of 11/04/2020 € 1,795 m


Free float at 71%1

Shareholder structure

25.5%

3.5%

71.0%1

Heinz Dürr GmbH, Berlin

Heinz und Heide Dürr Stiftung,Berlin

Institutional and private investors, including

Candriam Luxembourg: 3.8%

Alecta Pensionsförsäkring: 3.2%

Credit Suisse Fund Management: 3.0%

Members of the Dürr Board of Management: 0.3%

Members of the Dürr Supervisory Board: 0.2%

2

1 Free float calculated according to Deutsche Börse AG 2 According to the relevant laws


Remarkable 2011-2014 outperformance

compared to DAX & MDAX

Dürr highly benefited from China boom

due to its strong emerging markets

presence

HOMAG takeover in 2014 was not well

received by investors, but then levered

the Dürr share.

Value driver: digitalization and HOMAG

boosted outperformance of Dürr share

until end of 2017

2018-2019: underperformance of

shares of the capital goods sector,

especially in the automotive sector due

to weaker economic perspectives

2020: Covid-19 impact but recovery with

new guidance & announced measures

Share price development

0

100

200

300

400

500

600

700

800

900

1,000

1,100

1,200

1,300

1,400

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Dürr indexed

DAX indexed

MDAX indexed


Target payout ratio between 30% and 40%

Dividend policy

Dividend policy: 30-40% payout ratio

0

20

40

60

0.50

0.00

1.00

1.50

0.80 €

2012 20142009

€

2011

%

20132010 2015 2016 2017 20192018

1.00 €

0.00 €

1.10 €

0.57 €0.73 € 0.83 €

0.08 €0.30 €

0.93 €1.05 €

Payout ratio Dividend paid

in € 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Earnings per

share -0.39 0.10 0.90 1.55 2.03 2.17 2.34 2.63 2.78 2.27 1.79

Dividend per

share 0.00 0.08 0.30 0.57 0.73 0.83 0.93 1.05 1.10 1.00 0.80

Total payout 0.0 m 5.2 m 20.8 m 38.9 m 50.2 m 57.1 m 64.0 m 72.7 m 76.1 m 69.2 m 55.5 m

Payout ratio - 32% 32% 35% 38% 38% 38% 39% 38% 42% 43%


As of 11/04/2020

59%

29%

12%

Buy Hold Sell

16 equity research analysts cover Dürr

ø target price: € 28.41

Target price range between 14 and 37 €

88% recommend to buy or hold the Dürr share

Analysts’ view

www.durr-group.com

Corporate Communications & Investor Relations,

Dürr AG

Bietigheim-Bissingen

December 2020

Dürr Aktiengesellschaft

Carl-Benz-Str. 34

74321 Bietigheim-Bissingen

Germany

Investor Relations Presentation

+49 7142 78-0

[email protected]

investor relations presentation - itacinvestor relations, dürr ag ... investor relations...

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