DÜRR AG : Mixed Q3 results (adj. EBIT +6%/ order intake -6% vs cons.), Homag: € 35m- € 50m restructuring expenses in Q4, FY 2023 outlook confirmed for key KPIs
>Announced restructuring plan for Homag shaves off 13%-19% of 2023 EPS - Dürr released final Q3 2023 results encompassing adj. EBIT margin of 7.1% (+140bp y-o-y/adj. EBIT 6% above consensus) and order intake decline of 30% y-o-y to € 922m (-6% vs. css), primarily fuelled by PFS with -46% y-o-y (timing effect after € 150m order was already booked in Q2) and Homag: -23% y-o-y in Q3 23. Adj. EBIT margin in PFS increased further to 6.2% (up 2.1pp y-o-y). Restructuring cos...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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