22.07.2019 23:19:25
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Dürr Group Lowers FY19 Guidance; Issues H1 Provisional Figures - Quick Facts
(RTTNews) - The Dürr Group (DUERF.PK) said its earnings in the Woodworking Machinery and Systems division are under pressure from shrinking margins caused by declining market volumes. Also, the company's earnings in the Measuring and Process Systems division are being impacted by higher R&D expenses. Based on this, the Dürr Group has adjusted its earnings guidance for 2019. Due to the challenging conditions, the Group's EBIT margin guidance for 2020 (7.0 - 8.0%) is also currently under review.
For 2019, the company now expects EBIT margin to be in a range of 5.5 - 6.0%, revised from the prior guidance range of 6.5 - 7.0%. EBIT before extraordinary effects is now anticipated to be in a range of 6.0 - 6.5% (previously 7.0 - 7.5%).
Based on provisional figures, for the first-half, earnings after tax fell by 6.6% to 63.6 million euros. EBIT declined 6.1% to 95.2 million euros from 101.4 million euros. Group EBITDA rose by 6.8% to 150.4 million euros. Sales were up 7.5% to 1.88 billion euros in the first half of the year.
For the first-half, EBIT margin was 5.1%. Before extraordinary effects, EBIT margin was 5.7%.
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