Dürr’s chief executive sounded satisfied: “We have certainly achieved our targets in 2016, although the market environment wasn’t easy,” said Ralf Dieter, who presented record-high figures for order intake and earnings this week.
According to the provisional figures presented on Thursday, the order volume at Dürr, a plant and machinery construction company with 15,000 employees based near Stuttgart, grew by 6.8 percent to €3.7 billion, or $3.9 billion, at the upper end of the target set at the beginning of the year.
Orders from North America were the main driver of the increase, jumping 45 percent last year and passing the billion-euro mark for the first time. Earnings before interest and taxes rose to €271 million, although sales decreased by 5.1 percent to €3.6 billion.
The revenue decline hardly came as a surprise to the company, which is listed on the MDax German mid-cap index. According to Mr. Dieter, the reason was that revenues in the varnishing plant construction business were around €200 million above the normal level in 2015. The drop was compounded by unfavorable exchange rate fluctuations.