Dürr Group sells Danish subsidiary Agramkow
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EQS-Ad-hoc: Dürr Aktiengesellschaft / Key word(s): Disposal Dürr Group sells Danish subsidiary Agramkow Dürr AG – WKN 556520 / ISIN DE0005565204 Bietigheim-Bissingen, April 25, 2024 — The Dürr Group is selling the Danish Group company Agramkow Fluid Systems A/S, including two subsidiaries and further assets, to the Swedish investment company Solix Group AB. Agramkow specializes in filling technology for the non-automotive sector and achieved sales of around €45 million in the 2023 fiscal year. Agramkow’s enterprise value stands at €47 million. Headquartered in Sønderborg, Denmark, Agramkow is the world’s leading supplier of systems for filling refrigerators, air-conditioning systems, and heat pumps with refrigerant. The company has belonged to the Dürr Group since 2011 but is no longer part of the strategically relevant core business and has few synergies with other parts of the Group. As a result, the Board of Management of Dürr AG believes that Agramkow has better growth prospects outside the Group. The transaction does not involve the business in filling technology for the automotive industry, which is operated by Dürr Somac GmbH and remains within the Dürr Group as part of its core business. Agramkow belongs to the Industrial Automation Systems division. In 2023, with around 160 employees, Agramkow achieved an EBIT margin before extraordinary effects above the Group average of 6.1 %. The purchase agreement signed with Solix today is likely to be executed at the end of the second quarter, following completion of the carve-out process. Due to the expected proceeds from the sale, Dürr AG is adjusting the forecast for its net financial status as of December 31, 2024, to between €-500 and -550 million (previously: between €-540 and -590 million). _______________________________________________________________ Contact: Dürr AG 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 particular expertise in the technology fields of automation, digitalization, and energy efficiency. Its products, systems, and services enable highly efficient and sustainable manufacturing processes — mainly in the automotive industry and for producers of furniture and timber houses, but also in sectors such as the chemical and pharmaceutical industries, medical devices, electrical engineering, and battery production. In 2023, the company generated sales of €4.6 billion. The Dürr Group has over 20,500 employees and 142 business locations in 32 countries, and it operates in the market 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.
25-Apr-2024 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: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
| EQS News ID: | 1889683 |
| End of Announcement | EQS News Service |
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1889683 25-Apr-2024 CET/CEST
