Dürr (DUE) Q2 2026 earnings summary

Executive summary

• Order intake rose 13% year-over-year in Q2 2026, driven by Automotive and Measuring and Process Systems, while H1 2026 order intake was stable at €1,871.4 million.

• Revenues declined 2% year-over-year in Q2 and 4.3% in H1, mainly due to weaker demand in Woodworking and BBS Automation.

• EBIT margin before extraordinary effects improved to 4.2%, supported by favorable mix and cost-cutting programs, but EBIT after extraordinary effects was negative due to a €94.9 million goodwill impairment at BBS Automation.

• The Vector efficiency program was launched at BBS Automation, targeting €30 million annual cost savings and 500 job reductions.

• Full-year 2026 group KPIs and guidance confirmed despite macroeconomic and segment-specific challenges.

Financial highlights

• Q2 2026 order intake rose 13% year-over-year to €1,080m; H1 sales declined 4.3% to €1,921.5m.

• EBIT before extraordinary effects stable at €81m in H1 2026; EBIT margin b.e.e. up to 4.2% from 4.0% year-over-year.

• Net income loss improved to -€68.3m in H1 2026 from -€93.4m in H1 2025.

• Free cash flow positive at €32.3m in H1 2026, though down from €47.2m in H1 2025.

• Net financial debt reduced to €77.7m from €480.8m year-over-year, aided by asset sales.

Outlook and guidance

• 2026 group guidance confirmed: order intake €3.8–4.2bn, sales €3.9–4.3bn, EBIT margin b.e.e. 5.0–6.5%.

• Margin improvements expected in H2 2026, supported by Automotive seasonality, cost savings at BBS Automation, and big-ticket Woodworking orders.

• Industrial Automation division guidance revised downward due to BBS Automation's weak performance; Automotive and Woodworking forecasts unchanged.

• Free cash flow for 2026 expected between €-150 and €0 million, with ROCE forecast at 13–18%.

• Free cash flow guidance reflects payment shifts and restructuring/tax cash-outs.