DÜRR AG : Good start to the year (adj. EBIT +15% vs cons), Homag margin deteriorated as expected & further uptick in PFS needed, FY 2024 outlook confirmed
>Homag weakness was compensated by other segments, first Mercedes-Benz order was placed as expected (~€ 450m order intake) - Order intake of Dürr increased by 2% y-o-y to € 1,489m in Q1 2024, which is 2% above (company collected-) consensus estimate of € 1,462m and primarily fuelled by the first paintshop deal with Mercedes-Benz (size of ~€ 450m o/w ~€ 100m in APT). Order intake at Homag continued the stable trend (+7% y-o-y to € 377m & b-t-b >1.0x), as the project bu...Duerr is a mechanical and plant engineering group based in Germany. Co. operates through five divisions: Paint and Assembly Systems (production and paint finishing technology for automotive bodyshells and aircraft); Application Technology (products and systems for automated painting applications as well as sealing and glueing technology); Measuring and Process Systems (machines and systems for use in engine, drive construction and final assembly); Clean Technology Systems (plant and equipment for purifying exhaust gases produced by industrial processes and energy efficiency technologies for production processes); and Woodworking Machinery and Systems (machinery for the woodworking industry).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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