The Dürr Group considers itself well prepared for the economic effects of the corona pandemic with free funds at the record level of Euro 1.7 billion. Business performance in the first quarter was impaired above all by the corona-related lockdown in China. Compared with the strong first quarter of 2019, new orders fell by 24.2 % to EUR 838.3 million. A major order from the automotive industry agreed for the first quarter has been postponed, but according to current estimates is expected to be received this year. Sales decreased by 11.3 % to 842.6 million euros. Despite the difficult market environment, the Dürr Group did not record any significant cancellations of orders. Orders on hand were at a high level of Euro 2704.1 million at the end of March. Business in China has returned to normal after the lockdown in January/February, and capacity utilization is good according to the company's own statements. The locations in other countries are also returning to normal business processes. In March and April, more than 50% of the workforce worked in the home office at times. Locations in Brazil, India and the USA had to close temporarily, and the German and Polish plants were able to produce without interruption. Due to the declining business volume, the Group has initiated cost reductions. Dürr AG's Board of Management expects significant declines in incoming orders and sales revenues in the second quarter, and a loss and a negative operating cash flow cannot be ruled out. A slow recovery is expected for the second half of the year. A precise forecast for the year cannot be made at present in view of the exceptional macroeconomic situation.
Autor(en): Ke
