CONFERENCE CALL RESULTS JANUARY – MARCH 2013€¦ · CONFERENCE CALL RESULTS JANUARY ... Conference Call - Q1, May 7, 2013 2. ... 08/01/2013 Interim financial report for the first

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CONFERENCE CALLRESULTS JANUARY – MARCH 2013

DÜRR AKTIENGESELLSCHAFT

Bietigheim-Bissingen, May 7, 2013

WELCOME

Ralf W. Dieter, CEORalph Heuwing, CFO

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.

2© Dürr Aktiengesellschaft, CCI, Conference Call - Q1, May 7, 2013

ONGOING STRONG DEMAND

3

Book-to-bill at 1.25

Sales shortfall due to temporary effects: project status as well as Cleaning and Filtration Systems

Orders on hand at record level

© Dürr Aktiengesellschaft, CCI, Conference Call - Q1, May 7, 2013

in € m Q1 2013 Q1 2012 ∆

Incoming orders 680.4 679.1 0.2%

Sales revenues 542.5 562.4 -3.5%

Orders on hand (03/31) 2,476.9 2,247.9 10.2%

4

Q1 WITH SEQUENTIAL ORDER INTAKEINCREASE (+5.9%)


in € m

162 179 169 130

275 244 294

466336 325 379

289 333 32478 69 83

65

97 127155

182

116 166137

104150 182

80 101 100152

144 165

159

189

149160

175

141

125146

18 13 22 17

2621

35

29

1728

35

16

3528

0

100

200

300

400

500

600

700

800

900

1.000

Q 42009

Q 12010

Q 22010

Q 32010

Q 42010

Q 12011

Q 22011

Q 32011

Q 42011

Q 12012

Q 22012

Q 32012

Q 42012

Q 12013

Clean TechnologySystems

Measuring andProcess Systems

ApplicationTechnology

Paint and AssemblySystems

680

339 362 375 364

557

643

541

866

618

679725

550

643

1,000

5

INCOMING ORDERS JANUARY – MARCH 2013 VS. 2012


in € m

+0.2%

+35%

-21%

-27%

-16%

+21%

Strong EM business(e.g. China, Brazil)679.1

225.0

183.3

75.7

160.7

34.3

680.4

304.9

143.9

55.6

134.4

41.60

100

200

300

400

500

600

700

800

Total China America Germany Europe w/oGermany

Asia (w/o China),Africa

2012 2013

6

MODERATE INCREASE OF STAFF IN 2013, REDUCTION OF OUTSOURCING


in € m

2009 2010 2011 2012 2013e

Developed markets

Emerging markets

7,6528,000

€ 183,100 € 218,300 € 299,200 € 327,000 € 310,000 Sales per employee(average)

5,7125,915

6,823

76%

31%27%

67%

24%

69%73%

33%

+4%

+15%

+12%

65%

35%

+5%

Q1: EBIT INCREASE OF 22% DUE TOIMPROVED GROSS MARGIN


Gross margin at 18.8% in Q1 2013 (Q1 2012: 16.4%)

Moderate increase of SG&A costs: +5.9%

Financial result improved by € 1.5 m to € -4.7 m

in € m Q1 2013 Q1 2012 ∆

Gross profit on sales 102.1 92.3 10.6%

EBITDA 42.2 35.5 18.9%

EBIT 36.0 29.6 21.6%

Net income 22.7 17.2 32.0%

TYPICAL CASH FLOW PATTERN IN Q1

8

Cash flow / free cash flow


in € m Q1 2013 Q1 2012

EBT 31.3 23.4

Depreciation and amortization of non-current assets 6.1 5.9

Interest result 4.8 6.2

Income taxes paid -2.7 -2.8

∆ Provisions 6.3 -16.0

∆ Net working capital -73.8 -28.4

Other -1.7 -7.0

Cash flow from operating activities -29.7 -18.7

Interest paid (net) -0.6 -1.0

Capital expenditures -7.8 -4.8

Free Cashflow -38.1 -24.5

NWC: INCREASE DUE TO HIGHPAYMENTS IN Q4 2012

9

NWC build-up only temporary

DWC expected medium-term range between 20 and 25 days


03/31/2013 12/31/2012 03/31/2012

NWC in € m 176.4 98.6 59.8

DWC (Days Working Capital) 29.3 14.8 9.6

DSO (Days Sales Outstanding) 128.4 104.3 101.2

WIP AND PROGRESS BILLINGS: ONGOINGIMPROVEMENT OF NEGATIVE WIP BALANCE


in € m 03/31/2013 12/31/2012 03/31/2012

Assets

WIP in excess of billings 393.1 349.1 313.0

Liabilities

Billings in excess of WIP 466.0 454.2 425.7

Machinery business

Progress billings 42.8 32.2 25.3

Billings in excess of WIP 5.0 4.2 -0.3

Balance

Total WIP less total progress billings -77.9 -109.3 -112.4

Prepayments (liabilities) 508.8 486.4 451.0

1

2

3

4

1 2 4

2 3

- -

+

SOLID FINANCIAL RATIOS


Equity ratio expected to increase during the next quarters

Particularly strong ROCE1) annualized

03/31/2013 12/31/2012 03/31/2012

Equity in € m 455.7 432.1 375.4

Equity ratio in % 24.4 23.9 22.5

Net financial status in € m 58.9 96.7 25.3

Cash in € m 289.0 349.3 301.8

Gearing in % -14.8 -28.8 -7.2

ROCE1) in % 30.6 43.9 29.4

PAINT AND ASSEMBLY SYSTEMS

Book-to-bill at 1.2

Strong EBIT margin (7.1%) due to solid order execution, improved order quality and higher salesrealization


Strong operating result

in € m Q1 2013 Q1 2012 ∆

Incoming orders 324.1 324.7 -0.2%

Sales revenues 268.5 252.8 6.2%

EBIT 19.0 13.4 41.8%

New quarterly high in incoming orders

Book-to-bill at 1.5

Temporary sales decline due to project status

EBIT margin surpassed the 10% level


APPLICATION TECHNOLOGY

in € m Q1 2013 Q1 2012 ∆

Incoming orders 182.4 166.2 9.7%


EBIT 12.9 11.6 11.2%

MEASURING AND PROCESS SYSTEMS

Both business units with similar order momentum, but book-to-bill at 1.1

Pronounced sales decline at Cleaning and Filtration Systems due to selective order intake 2012

Earnings decline due to declining sales, capacity reductions and organizational changes at Cleaningand Filtration Systems


Somewhat weaker order momentum in general industry

in € m Q1 2013 Q1 2012 ∆


Sales revenues 134.4 166.6 -19.3%

EBIT 5.8 9.6 -39.6%

CLEAN TECHNOLOGY SYSTEMS

Incoming orders and sales revenues at previous years´ level

Positive result despite start-up costs in energy efficiency activities


Positive EBIT after loss in Q1 2012

in € m Q1 2013 Q1 2012 ∆



EBIT 0.5 -0.8 -

PASSENGER CAR SALES DEVELOPMENT JANUARY - MARCH 2013/12

© Dürr Aktiengesellschaft, CCI, Conference Call - Q1, May 7, 2013 16

Change year-over-year in %

-13

-12

-10

-9

-9

0

2

6

25

-15 -10 -5 0 5 10 15 20 25 30

Germany

India

Western Europe

Japan

new EU countries

Russia

Brazil

USA

China

19.7 20.4 21.2 22.4 23.4 24.2

19.3 19.4 20.5 21.8 22.7 23.3

21.8 22.3 23.624.6 24.9 25.8

16.4 18.921.4

23.525.2 26.21.8 2.0

2.22.5

2.62.7

0

10

20

30

40

50

60

70

80

90

100

110

2012 2013e 2014e 2015e 2016e 2017e

America Europe Asia (without China) China other

CONTINUED STRONG EMERGING MARKETS GROWTH EXPECTED


China, India, Russia, Brazil, Malaysia & Indonesia with expected LV production growth >8%

Emerging markets contribute 75% to growth between 2012 and 2017

CAGR in %

Source: own estimates, PwClast update: April 2013

in m units

4

8

9

4

4

78.9 82.188.1

94.1 98.4101.9

5.736.6

106.5

176.9

2009 2010 2011 2012 2013e

EBIT margin / EBIT in € m

2.9%0.5%

5.5%

7.4%

1,2171,460

1,7821,464

1,185

1,642

2,685 2,597 2,300-2,500

2005 2006 2007 2008 2009 2010 2011 2012 2013e

1,0781,261

1,922

2,400

2,400-2,600

2009 2010 2011 2012 2013e

OUTLOOK: 7.5% EBIT MARGIN IN FOCUS

Incoming orders in € mSales in € m

7-7.5%


NEW CHAIRMAN OF SUPERVISORY BOARD


Continuity will persist!

Klaus Eberhardt is in charge sincethe Annual General Meeting on April 26, 2013

Dr. Heinz Dürr: Honorary Chairman

SUMMARY

Q1 2013 on track, EBIT margin reached 6.6%

Book-to-bill at 1.25; record order backlog

Strong growth potential for global automotive industry, good opportunities for Dürr despite weak European markets

Positive 2013 outlook unchanged: slight increase in sales and earnings

Cash flow expected to improve considerably in 2013/2014, free cash flow should exceed € 70 m annually in 2013/2014


FINANCIAL CALENDAR

08/01/2013 Interim financial report for the first half of 2013

11/06/2013 Interim report for the first nine months of 2013

CONTACT: Dürr AktiengesellschaftGünter DielmannCorporate Communications & Investor RelationsCarl-Benz-Str. 3474321 Bietigheim-BissingenGermany

Phone +49 7142 78-1785E-mail [email protected]


www.durr.comwww.durr.com

CONFERENCE CALLRESULTS JANUARY – MARCH 2013

DÜRR AKTIENGESELLSCHAFT

Bietigheim-Bissingen, May 7, 2013

Ralf W. Dieter, CEORalph Heuwing, CFO

Documents

CONFERENCE CALL RESULTS JANUARY – MARCH 2013€¦ · CONFERENCE CALL RESULTS JANUARY ... Conference Call - Q1, May 7, 2013 2. ... 08/01/2013 Interim financial report for the first