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EQS-Ad-hoc: Dürr Aktiengesellschaft / Key word(s): Takeover Dürr AG strongly expands automation business with acquisition of BBS Automation Dürr AG – WKN 556520 / ISIN DE0005565204 Bietigheim-Bissingen, June 12, 2023 — The Dürr Group (“Dürr”) acquires the BBS Automation Group, based in Garching, Germany (“BBS Automation”), thus continuing the strategic expansion of its automation technology business. Dürr expects that, as a result of the complete takeover, sales revenues in automation technology will more than double and reach around € 500 million in 2024. In the course of the transaction Dürr acquires 100% of the shares in Rome HoldCo GmbH (Munich), the holding company of BBS Automation. The seller is a consortium led by financial investor EQT. The enterprise value of BBS Automation is between €440 million and €480 million and depends on the earnings development in 2023. Financing of the transaction will be provided from cash flow as well as through existing financing instruments and a bridging loan. The founder Josef Wildgruber will continue to manage BBS Automation. The purchase agreement signed today is subject especially to competition-law clearance of the acquisition and other regulatory prerequisites. Its completion and initial consolidation are planned for the end of the third or beginning of the fourth quarter of 2023. In 2023, BBS Automation is expected to achieve sales of around €300 million. Around 55% are expected to be generated from automation technology for the production of automotive components (particularly e-mobility) and about 20% from production systems for medical devices. Another focus sector are consumer goods. The Dürr Group’s business figures for 2023 will not be materially impacted by the acquisition. Solely the forecast for the net financial status as of December 31, 2023 changes in line with the enterprise value of BBS Automation and now stands at €-490 to €-540 million (before: €-50 to €-100 million). In addition to BBS Automation, the automation technology business segment also includes the companies Teamtechnik and Hekuma, which were acquired in 2021. BBS Automation is expected to grow profitably within the Dürr Group. For 2026, sales of €400 million to €450 million and an EBITDA margin of 13% to 15% are expected. Consequently, the acquisition is fully in line with the Dürr Group’s growth and earnings targets. _______________________________________________________________ Contact: End of Inside Information Information and Explanation of the Issuer to this announcement: The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation, digitalization and energy efficiency. Its products, systems and services enable highly efficient and sustainable manufacturing processes in different industries. The Dürr Group primarily supplies the automotive industry, producers of furniture and timber houses as well as the chemical, pharmaceutical, medical devices and electrical engineering sectors. It generated sales of €4.3 billion in 2022. The company has about 18,700 employees and 123 business locations in 32 countries. The Dürr Group operates in the market with the brands Dürr, Schenck and HOMAG and with five divisions:
This publication has been prepared independently by Dürr AG/Dürr group. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in disclosures of Dürr AG, in particular in the chapter “Risks” in the annual report of Dürr AG. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of the Dürr group may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr AG neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Net assets, financial position and results of operations of the Dürr group should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr AG can be found in our financial glossary on the web page.
13-Jun-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Dürr Aktiengesellschaft |
| Carl-Benz-Str. 34 | |
| 74321 Bietigheim-Bissingen | |
| Germany | |
| Phone: | 07142 78-0 |
| Fax: | 07142 78-1716 |
| E-mail: | corpcom@durr.com |
| Internet: | www.durr-group.com |
| ISIN: | DE0005565204 |
| WKN: | 556520 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
| EQS News ID: | 1655149 |
| End of Announcement | EQS News Service |
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1655149 13-Jun-2023 CET/CEST
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