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Investing.com -- Germany’s Duerr AG (ETR:DUEG) reported a sharp decline in order intake in the first quarter, while sales remained steady and earnings improved notably.
Order intake fell 21.4% year-over-year to €1.08 billion, mainly due to an exceptionally large single order in the year-ago period. Still, demand remained solid across core divisions, with painting and final assembly technology orders exceeding €500 million. Woodworking and Industrial Automation also posted sequential improvements in bookings.
"Both divisions displayed a positive trend in the first quarter. In view of the economic uncertainties, however, it remains to be seen whether this marks the emergence of a sustained increase in demand,” said Dr. Jochen Weyrauch, CEO of Duerr.
Sales held steady at €1.01 billion. Automotive business drove topline stability, offsetting weaker contributions from Woodworking and Industrial Automation, which continued to feel the impact of last year’s lower order intake.
The company achieved a 41% increase in earnings after tax from continued operations, reaching €17.1 million, aided by lower financing costs and reduced extraordinary expenses. EBIT before extraordinary effects came in at €39.3 million, reflecting a margin of 3.9%.
Duerr confirmed plans to divest its environmental technology unit in 2025. The business is held for sale and excluded from continued operations. Including this unit, Group EBIT margin before extraordinary effects would have been 4.8%, and net profit €24.9 million.
The company reiterated its 2025 outlook, targeting €4.2–4.6 billion in sales and an EBIT margin before extraordinary effects of up to 5.5%. Order intake guidance remains between €4.3–4.7 billion. Management noted confidence in reaching full-year goals "despite the uncertainties arising from tariff conflicts."