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INVESTOR RELATIONS PRESENTATION
Bietigheim-Bissingen, February 2017
www.durr.com
Dürr Aktiengesellschaft
2 © Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
DISCLAIMER
This presentation has been prepared independently by Dürr AG (“Dürr”). The presentation contains statements which address such key issues as Dürr’s strategy, future financial results, market positions and product development. Such statements should be carefully considered, and it should be understood that many factors might cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, physical and environmental risks, legal and legislative issues, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.
3
AGENDA
1. Executive Summary
Our five divisions 2.
Group strategy 3.
Group financials, markets and outlook 4.
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Worldwide leading supplier of efficient production technologies with outstanding digital expertise. Major customer groups: automotive, furniture and general industry Innovation leader driven by automation, digitization and networked production Highly cash generative; flexible production facilities with pronounced focus on NWC; strong ROCE Expanding service business with healthy margins and further growth potential Group structure with efficient processes; further growth via acquisitions. HOMAG can be seen as a blueprint for further acquisitions
4
1. EXECUTIVE SUMMARY
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Market shares between 30 and 60% in different machinery and engineering activities Strong emerging markets presence with 40-50% share of global incoming orders High entry barriers with limited number of competitors Business drivers:
Greenfield: growing markets Brownfield: replacement potential Service: installed base Automation, digitization & networking
5
1. EXECUTIVE SUMMARY Dürr: global leader in strong competitive position
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Fast facts Customers
6
AGENDA
1. Executive Summary
Our five divisions 2.
Group strategy 3.
Group financials, markets and outlook 4.
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Paint and Final Assembly Systems
• Incoming orders € 1,094 (1,126) m
• Sales € 1,140 (1,365) m
• EBIT € 77 (100) m
• Operating EBIT € 82 (100) m
• EBIT margin 6.8 (7.3) %
• Operating EBIT margin 7.2 (7.3) %
Application Technology
• Incoming orders € 583 (538) m
• Sales € 561 (600) m
• EBIT € 76 (61) m
• Operating EBIT € 59 (61) m
• EBIT margin 13.6 (10.1) %
• Operating EBIT margin 10.5 (10.1) %
Measuring and Process Systems
• Incoming orders € 683 (578) m
• Sales € 624 (604) m
• EBIT € 80 (70) m
• Operating EBIT € 80 (70) m
• EBIT margin 12.8 (11.6) %
• Operating EBIT margin 12.8 (11.6) %
Clean Technology Systems
• Incoming orders € 177 (166) m
• Sales € 167 (159) m
• EBIT € 6 (6) m
• Operating EBIT € 6 (6) m
• EBIT margin 3.7 (3.6) %
• Operating EBIT margin 3.7 (3.6) %
Woodworking Machinery and Systems
• Incoming orders € 1,165 (1,058) m
• Sales € 1,082 (1,039) m
• EBIT € 45 (37) m
• Operating EBIT € 71 (63) m
• EBIT margin 4.1 (3.5) %
• Operating EBIT margin 6.6 (6.1) %
7
2. OUR FIVE DIVISIONS Divisional breakdown 2016 (2015)
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Dürr AG
Turn-key paint shops for the automotive industry (OEMs, suppliers) Final assembly systems (e.g. conveyor equipment, control systems) Service and modernization of existing sites
8
2. PAINT AND FINAL ASSEMBLY SYSTEMS Paint shops and final assembly systems
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
1 including extraordinary expenses in connection with the closure of a smaller plant in Austria (€ 4.9 m)
in € m 2015 2016 2017e
Incoming orders 1,126 1,094 1,000-1,150
Sales revenues 1,365 1,140 1,050-1,175
EBIT 100 771 -
EBIT margin 7.3% 6.8%1 6.0-6.5%
ROCE >100% >100% >100%
High-tech systems and software for automated paint application, glueing processes and seam sealing (e.g. robots, atomizers, color change systems, quality assurance) Interior painting automation potential Economic lifetime of paint robots: 10-12 years replacement cycle just beginning Strong service potential (e.g. spare parts) due to increased installed base
9
2. APPLICATION TECHNOLOGY Paint application, glueing and sealing technology
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
1 including extraordinary income of € 17 m
in € m 2015 2016 2017e
Incoming orders 538 583 540-610
Sales revenues 600 561 540-610
EBIT 61 761 -
EBIT margin 10.1% 13.6%1 9.5-11.0%
ROCE 32.3% 40.0%1 27-32%
Falls das Bild von der Auflösung zu schlecht ist, gäbe es noch ein mögliches Ersatzbild
Application products (components) for general industry Complete range of application products for general industry (e.g. plastics, wood, furniture, construction) Sales channels: Distributors, integrators, Dürr web shop & Dürr regional centers Target € 50 m revenue by 2019
10
2. APPLICATION TECHNOLOGY Addressing new markets: industrial products
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
31%
31%
23%
8% 7%
Nordson
Others
Graco
Finishing Brands
Iwata
Competition1
1 Market size ~ € 3 bn
11
2. PAINT BUSINESS1
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
BUSINESS DRIVERS TYPE
Expansion of capacity in new and existing locations Replacement of old and non-productive plants
Increased quality requirements especially in the emerging markets Efficiency enhancements: cost reductions (e.g. energy, material); cycle times Flexibility: addition of new models/facelifts to existing painting lines Automation: e.g. interior painting of vehicles Environmental regulation: stricter emissions laws
Continuous demand: spare parts, upgrades, training Wear & tear of aging installed base: smaller modernizations and upgrades
Greenfield
Brownfield
Service
1 Divisions Paint and Final Assembly Systems and Application Technology
Incoming orders increased by 75% within 8 years, mostly due to higher demand in brownfield & service business
12
2. PAINT BUSINESS1 Brownfield with growing importance
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
1 Divisions Paint and Final Assembly Systems and Application Technology
61% 15%
24%
44%
26%
30%
Greenfield Brownfield Service
35%
35%
30%
Incoming orders 2008: € 950 m Incoming orders 2016: € 1,677 m Incoming orders 2020e
High market shares in all businesses Positioned globally with a high degree of localization Strong footprint in China with local production, and local R&D etc.
13
2. MEASURING AND PROCESS SYSTEMS Highly profitable machinery niches with global presence
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € m 2015 2016 2017e
Incoming orders 578 683 400-5001
Sales revenues 604 624 450-5251
EBIT 70 80 -
EBIT margin 11.6% 12.8% 11.5-14.0%1
ROCE 24.6% 24.9% 20-25% 1 Ecoclean business will be sold as of March 31, 2017
14
2. MEASURING AND PROCESS SYSTEMS Four strongly performing machinery niche players
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
1 Exit of this business signed; closing expected in Q1/2017; € 200 m sales, EBIT margin 7% in 2016
Balancing of rotating parts and components for many manufacturing industries, service centers
End of line assembly and testing equipment for the automotive industry
Filling of appliances (refrigerators, air conditioners and others)
Filling automotive – end of line
Balancing
Filling
Cleaning and surface processing for industrial production (production of engines, gearings, metal, etc)
Cleaning machines 1
Assembly & testing
Systems for exhaust air purification, disposal of liquid residues and energy management Drivers: energy prices, regulation, environmental issues Customer split: 25% automotive; 25% chemistry, petrochemistry, pharmacy; 50% other industries Loss making energy efficiency technologies will be streamlined in 2017
15
2. CLEAN TECHNOLOGY SYSTEMS Exhaust air purification systems & energy efficiency systems
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € m 2015 2016 2017e
Incoming orders 166 177 180-200
Sales revenues 159 167 175-195
EBIT 6 6 -
EBIT margin 3.6% 3.7% 4.0-4.5%
ROCE 11.7% 13.6% 15-20%
Product range from stand-alone machines through to complete, automated production lines for efficient woodworking Major customers: Furniture industry, construction supplies and timber home construction Strong need for automation: Batch one production, fully digitized process from order to delivery 31% market share, biggest customer: IKEA (~ 5% of sales)
16
2. WOODWORKING MACHINERY AND SYSTEMS World market leader HOMAG Group acquired to capture automation trend in the industry
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € m 2015 2016 2017e
Incoming orders 1,058 1,165 1,125-1,225
Sales revenues 1,039 1,082 1,100-1,150
EBIT 37 45 -
EBIT margin 3.5% 4.1% 6.0-7.0%
ROCE 8.9% 11.3% 13-18%
17
2. WOODWORKING MACHINERY AND SYSTEMS FOCUS program progressing well
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Growth
Expansion China Expansion US Service initiative Project business Innovation program
Global organization (“ONE HOMAG“) Process improvement ERP roll-outs Modular products Incentive systems
Optimization
Value creation program FOCUS
Revenue: € 1.25 bn
EBIT margin: 8-10%
Lever Initiatives Targets 2020
18
2. WOODWORKING MACHINERY AND SYSTEMS FOCUS 2017: Shifting gears from “Fix the house” to “Innovation”
„Fix the house“
2016/2017
Sustainable profitable growth
2018/2019
Optimize portfolio
Standardization
Efficiency improvement in functions and processes
Develop system business
ONE HOMAG
Profitable system business
Launching of the “Software House”
Integration of complementary products
Service excellence (8% growth p.a. expected)
Innovation push
Internationalization
2017/2018
Cross-business-unit innovation program
Global footprint in production and engineering
Localization of sales & service competences
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
19
AGENDA
1. Executive Summary
Our five divisions 2.
Group strategy 3.
Group financials, markets and outlook 4.
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
20
3. DÜRR STRATEGY 2020
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Service
Globalization
Efficiency
Innovation
LEADING IN PRODUCTION EFFICIENCY
20%
8%
28% 3%
41%
Invest Energy Personnel Service Material
21
3. STRATEGY Innovation: R&D efforts focused on tangible customer value
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Cost per unit in a paint shop
Ø cost per unit in a current paint shop = € 3201
1 Compared to € 420 15 years ago
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
kWh/unit
Reduction of resource consumption/emissions in paint shops of a German OEM
0.0
0.5
1.0
1.5
2.0
m³/unit 0
0.5
1
1.5
2
2.5
3
3.5
kg/unit 0
1
2
3
4
5
6
l/unit
Energy Paint² Water VOC
-67% -71% -73%
-36%
2 In spray booth only
22
3. STRATEGY Innovation: digital@DÜRR
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Vision: leader in digitization, automation and networking in industrial production using intelligent products and services. Dürr`s MES software suite controls and analyzes the production process Benefitting strongly from the digitization and flexibilization trends in the industry. These trends favor innovative and strong companies, differentiation potential versus competitors, consolidation of competitive environment New product offerings optimizing manufacturing productivity, predictive maintenance and digital services
• e.g. EcoEMOS/iTAC MES system, Human Robot Collaboration (HRC)
• e.g. predictive mainte-nance, documentation/ maintenance via pad, internet, QR code
• e.g. virtual commissioning,
virtual engineering, additive manufacturing
• e.g. on demand energy supply
for ovens, smart pumps with reduced maintenance efforts
Smart Products
Smart Processes
Smart
Factories
Smart Services
23
3. STRATEGY Innovation: Goal – Leading in digitization with 4 pillars
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
24
3. STRATEGY Innovation: iTAC.IoT.Suite: new Industry 4.0 platform
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Shopfloor Competence
Shopfloor know-how Modular solutions Plant-wide integration Hardware independence Flexible integration into existing systems
IT Competence
Industrial IT know-how State of the art software architecture Release capability Cloud integration Big data
iTAC
25
3. STRATEGY Innovation: Industry 4.0/IoT Vendor Benchmark
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
0% 50% 100%
Port
folio
attr
activ
enes
s
Competitive strength
Product Leader Leader
Follower Market Challenger
Plex
AXOOM FIT
Bosch SI Beckhoff
iTAC
FORCAM
Siemens
Gefasoft
MPDV
Source: Experton Market Insight; Computerwoche, 10/2016
100%
50%
0%
26
3. STRATEGY Globalization: High investments in network of locations – reinforcement of local activities
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € m 2012 2013 2014 2015 2016
Capex 32.5 51.2 54.9 102.3 81.9
Acquisitions 2.9 34.8 242.1 42.0 13.6
Total 35.4 86.0 297.0 144.3 95.5
Extension of global presence: Reinforcement of new markets but also investments in established markets of North America and Germany with good prospects
15 production, test and engineering centers: extended, modernized or newly built
Campus concept transferred to key locations: more efficient processes, open communication and sustainable energy concept
Capex spending in 2017: around € 80 m New Dürr Campus in Shanghai, China
27
3. STRATEGY Service: Long-term target 30% of sales
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
2008 … 2014 2015 2016
Sales revenues (in € m) 395.9 … 634.1 884.9 981.9
In % of group sales 24.7 … 24.6 23.5 27.5
Strengthening service business and capacities in emerging markets (e.g. China, India, Mexico) with disproportionately high
potential
Service pricing, dedicated offerings, complaint management system, decentralized ware-housing, delivery speed
2016: Service sales +11%, reaching 27.5% of total sales – despite group sales down 5%
North/Central America; 28%
Germany; 15%
Other European countries; 31%
Rest of world; 9%
Non-auto China; 7%
Brownfield/ Service China;
3%
Greenfield China; 7%
28
3. STRATEGY Global footprint offers multiple growth opportunities
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
China Greenfield only 7%
Dürr‘s China brownfield/ service business accounts for only 21% of total Chinese incoming orders ( Dürr Group 56%)
Incoming orders Dürr group 2016: € 3.7 bn
42%
41%
17%
Modifications and upgrades
Spare parts and repairs
Maintenance, assessments, seminars
29
3. STRATEGY
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Service type in % of revenues
0
2,000
4,000
6,000
8,000
10,000
12,000 Number of paint robots sold (cumulative figure)
Further globalization of Dürr processes Global processes with full utilization of SAP/CAX/CRM/SharePoint Global IT platforms, integrated systems, one single database, continuous capex spending Expansion of sourcing offices and manufacturing in China, India, Mexico, Brazil
Rigorous localization of Dürr products in the emerging markets Supplemental product portfolio with low-cost/low-end solutions; local added value Reduction of specifications
Consistent portfolio optimization to improve profitability
Aircraft technology systems sold in 2014 French production facility sold in 2014 Cleaning machinery: sale closing in Q1 2017 likely Austrian workshop closed in 2016 Small German HOMAG site closed in 2016
30
3. STRATEGY Efficiency: Global processes, localization & portfolio optimization
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
31
AGENDA
1. Executive Summary
Our five divisions 2.
Group strategy 3.
Group financials, markets and outlook 4.
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
32
4. EARNINGS ON THE RISE Net income strongly increased
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € m 2014 2015 2016 ∆ in %
Incoming orders 2,793.0 3,467.5 3,701.7 6.8
Sales 2,574.9 3,767.1 3,573.5 -5.1
Orders on hand (end of period) 2,725.3 2,465.7 2,568.4 4.2
Gross profit on sales 591.1 828.0 858.3 3.7
Gross margin (%) 23.0 22.0 24.0 2.0 ppts
EBIT 220.9 267.8 271.4 1.3
EBIT margin (%) 8.6 7.1 7.6 0.5 ppts
Net income 150.3 166.6 187.8 12.8
33
4. STRONG CASH FLOW TO BE EXPECTED Free cash flow doubled in 2016
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € m 2013 2014 2015 2016
EBT 184.6 204.7 244.5 258.1
Other aggregated items of cash flow 21.9 12.3 66.3 2.9
Net working capital changes 122.6 74.3 -137.8 -33.6
Cash flow from operating activities 329.1 291.2 173.0 227.4
Interest -16.2 -16.6 -10.4 -15.8
Capex -51.0 -53.6 -99.8 -81.6
Free cash flow 261.9 221.1 62.8 129.9
NWC increase due to a slightly changed payment pattern of customers and normalization in prepayments
2017 cash flow should reach 2016 level
34
4. SOLID FINANCIAL RATIOS
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
12/31/2013 12/31/2014 12/31/2015 12/31/2016
Equity in € m 511.4 725.8 714.4 831.0
Equity ratio in % 25.7 24.4 23.9 24.8
Net financial status in € m 280.5 167.8 129.4 176.5
Net working capital in € m -33.1 87.6 236.8 194.4
DWC (days working capital) -4.9 12.2 22.9 27.2
ROCE in % 76.2 38.7 45.3 41.1
Equity increased by 16% in 2016; equity ratio of 30% as long-term goal
Net financial status expected to reach € 300 - 380 m at year end 2017
ROCE for FY 2017 should stay in our target range of 30-40%
35
Chinese production outlook raised slightly; now expected to reach nearly 34 m by 2021
20.4 20.8 23.1
21.9 22.3 24.4
21.2 22.4 25.2
27.0 27.7
33.9 2.2 2.3
3.1
0
20
40
60
80
100
120
2016 2017 2021
Others China Asia (w/o China) Europe America
1 Light vehicles production Source: PwC, Autofacts
Last update: January 2017
Ʃ 92.7 Ʃ 95.5
Ʃ 109.7
+5%
+3%
+6%
+2%
+2% +3%
+8%
+5%
+3%
+2%
+4% +3%
CAGR
4. FURTHER GROWTH IN THE CAR MARKET
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in m units1
36
4. WOODWORKING MACHINERY MARKETS Global automation trends might favor a higher growth for the HOMAG Group
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
315 326 338 351
2014 2015 2016 2017
+3.7% p.a.
1.3 1.3 1.4 1.4 1.5 1.5
2014 2015 2016 2017 2018 2019
+3.3% p.a.
210 215 222 229 235
2016 2017 2018 2019 2020
+2.9% p.a.
Furniture (83%)
Global furniture production (CSIL)
Construction elements (14%)
European construction market
Wooden houses (3%)
Timber construction (source: Holzbauverband)
in € bn
37
4. DÜRR GROUP OUTLOOK 2017 Stable outlook despite Ecoclean deconsolidation
0
5
10
15
20
25
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2009 2010 2011 2012 2013 2014 2015 2016 2017e
Sales
Incoming orders
Gross margin (in %)
EBIT margin (in %)
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € m
1) Including book gain Ecoclean sale, without book gain: 6.80 - 7.55%
3,400- 3,600
3,300- 3,700
7.51 -
8.25
03/17/2017 Publication annual report 2016 03/21/2017 BoAML Global Industrials & EU Autos Conference, London 03/30/2017 MainFirst Corporate Conference, Copenhagen 04/05/2017 dbAccess Small & Mid Cap Corporate Day, London 05/05/2017 Annual General Meeting, Bietigheim-Bissingen 05/11/2017 Interim statement for the first quarter of 2017 08/03/2017 Interim financial report for the first half of 2017 11/08/2017 Interim statement for the first nine months of 2017
38
4. FINANCIAL CALENDAR
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Günter Dielmann guenter.dielmann@durr.com +49 7142 78-1785
Stefan Tobias Burkhardt stefantobias.burkhardt@durr.com +49 7142 78-3558
Mathias Christen mathias.christen@durr.com +49 7142 78-1381
Dürr Corporate Communications & Investor Relations Contact
39 © Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Appendix
40
TRADITIONAL OEMS WITH HIGH INVESTMENTS1 IN 2017 AND 2018 Capex mix could shift towards e-mobility, self-driving, connected cars
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
in € bn 2012 2013 2014 2015 2016e 2017e 2018e
BMW 5.0 6.6 6.0 5.8 5.6 6.3 6.7
Daimler 6.4 6.7 6.1 6.8 7.7 9.0 9.0
FCA 5.4 5.5 5.9 6.7 6.0 7.0 6.7
Ford 4.2 5.1 5.7 6.2 6.4 7.0 7.0
GM 6.2 6.2 5.4 6.7 8.2 8.1 8.2
Renault 1.9 2.5 2.4 2.7 1.9 2.8 3.2
PSA 1.9 2.2 2.2 2.8 2.6 3.4 3.6
VW 12.9 15.1 16.1 17.8 17.5 17.9 17.3
Total 43.9 49.9 49.8 55.5 55.9 61.5 61.7
1 Capex spending incl. capitalized R&D, Source: Deutsche Bank
Dürr acquired 55.9% of HOMAG Group AG for € 228.1 m in cash
Pool agreement secures 77.9% of voting rights, family/foundation remains shareholder with 22.1%
New management team on board; Dürr executives on HOMAG group supervisory board
Domination and profit & loss transfer agreement since March 2015, guarantee dividend of € 1,01/share
Acquisition criteria:
Target areas: mechanical and plant engineering, automation technology, measuring systems, environmental
World market leadership, innovation leadership
Market niches without major players & no major Chinese players
No restructuring cases but acquisition targets with earnings improvement potential
Globalization/localization in emerging markets, making use of Dürr‘s excellent positioning
Operational improvements (e.g. processes, best practice, tools) and synergies
41
TAKEOVER OF HOMAG GROUP Takeover details and criteria – blueprint for further major acquisition
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
42
NEW MANAGEMENT BOARD STRUCTURE
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Dr. Jochen Weyrauch Member of the Board Measuring and Process
Systems Clean Technology Systems Information Technology Corporate Development
(including M&A)
Carlo Crosetto CFO from March 1, 2017 Finance / Controlling Investor Relations Risk Management Legal Affairs / Patents Global Sourcing Corporate Social
Responsibility
Ralf W. Dieter CEO Paint and Final Assembly
Systems Woodworking Machinery and
Systems Application Technology Public Relations Human Resources Research and Development Quality Internal Auditing Corporate Compliance
Ralph Heuwing Member of the Board until May 14, 2017
25.3%
3.5%
71.2%
Heinz u. Heide Dürr Stiftung
43
SHAREHOLDER STRUCTURE/DIVIDEND POLICY
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Free float at 71.2%1 Dividend policy: 30-40% payout ratio
Institutional and private investors • Thereof Deutsche Bank: 4.7%2
• Thereof Morgan Stanley: 4.0%2
• Thereof Alecta Pensionsförsäkring: 3.2%2
• Thereof Dürr Board of Management: 0.4%2
Heinz Dürr GmbH 1 Free float calculated according to Deutsche Börse AG 2 According to the German Securities Trading Act (WpHG)
0.35 €
0.00 € 0.15 €
0.60 €
1.13 €
1.45 €
1.65 €
1.85 €
2008 2009 2010 2011 2012 2013 2014 2015
44
MARKET SHARE DÜRR/COMPETITORS1
© Dürr AG, CCI, Investor Relations Presentation, Bietigheim-Bissingen, February 2017
Dürr 50%, Eisenmann 10-15%, Taikisha/Geico 20% local competitors: AE, Giffin, Gallagher Kaiser, Trinity (Toyota) Paint and Final Assembly Systems
Dürr ~50%, ABB ~20%, Fanuc ~15%, Yaskawa ~10%; local competitor: Doolim Application Technology
Dürr 40-50%3, John Zink/KEU 20%, CTP 10% Clean Technology Systems
Dürr 31%, Biesse 12%, scm group 11%, Schelling/IMA 7%; local competitors: Nanxing, KTD Woodworking Machinery and Systems
Balancing Dürr 46%, CEMB 16%, Kokusai 8% Filling Dürr 48%, Fives 16%, SAT 8% Testing Dürr 50%, Burke Porter Group 21%, Fori 10% Cleaning Dürr 40%2, Valiant 20%, ABB 8%, Elwema 6%, Markert 4%, Sugino 4%
Measuring and Process Systems
1 own estimates, average of last 3 years 2 market share relating to automotive business
3 market share relating to business with exhaust-gas purification systems for automotive paint shops
INVESTOR RELATIONS PRESENTATION
Bietigheim-Bissingen, February 2017
www.durr.com
Dürr Aktiengesellschaft
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