DÜRR AG : Q4 adj. EBIT 7% below css due to PFS, Homag with strong order intake (but no trend change), 2024 outlook shows downside to consensus at midpoint
>Rather soft Q4, strong Homag due to two large orders (were initially postponed), no typical provision relief in PFS in Q4 (adj. EBIT margin -3.4pp y-o-y) - Dürr released preliminary Q4 23 results this morning. Order intake increased by 2% y-o-y to € 1,106m in Q4 23, which is 2% below (company collected-) the consensus estimate of € 1,133m, as PFS disappointed with a contribution of only € 210m (down 36% y-o-y), while the pipeline was already well stocked in H1 23 (...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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