Last year's dividend stood at €0.80 per share. The reasons for the proposed adjustment are the decline in earnings due to the coronavirus pandemic as well as high extraordinary expenses. In 2020 EBIT reached €11.1 million, down from €195.9 million in the previous year, while earnings after tax dropped to €-13.9 million (previous year: €129.8 million). However, free cash flow improved considerably, rising to €110.7 million. In addition, the Dürr Group ended fiscal 2020 with a record liquidity. In total, Dürr AG is planning a dividend payout of €20.8 million this year.
CEO Ralf W. Dieter says: “We have so far navigated the coronavirus crisis on a very solid footing, and we have a substantial amount of free funds. Furthermore, business prospects have improved again considerably over the past few months. We are optimistic that we will return to achieving profitable growth this year. This optimism is reflected in our dividend proposal.”
€1,225 profit-sharing bonus for employees
The Dürr Group’s tariff employees based in Germany will receive a profit-sharing bonus of €1,225 for fiscal 2020. The company is thus recognizing their commitment in managing the coronavirus crisis. “The pandemic has impacted business but further strengthened the team spirit within the Group. 2020 has shown once again that we can rely on our employees”, says CEO Ralf W. Dieter.