Durr Says Won't Achieve Target Of 8% EBIT Margin Before Extraordinary Effects In 2024

(RTTNews) - Durr AG (DUE), a global mechanical and plant engineering firm, said it will not achieve its target of an 8% EBIT margin before extraordinary effects in 2024. The reason for this was the strong decline in order intake at HOMAG due to the continued downturn in the market for woodworking machinery.

The Group's new EBIT margin target for 2024 is 4.5 to 6.0% before extraordinary effects, with sales growth of 5 to 10%. The achievement of the 8% target margin previously forecast for 2024 requires business at HOMAG to recover and is expected for 2026 at the earliest.

The company confirmed 2023 forecast for the EBIT margin before extraordinary effects of 6.0% to 7.0%.

The company will publish the full figures for the third quarter and the first nine months of 2023 on November 9, 2023.