CONFERENCE CALL RESULTS JANUARY – JUNE 2013

www.durr.comwww.durr.com
CONFERENCE CALL
RESULTS JANUARY – JUNE 2013
DÜRR AKTIENGESELLSCHAFT
Bietigheim-Bissingen, August 1, 2013
WELCOME
Ralf W. Dieter, CEO
Ralph Heuwing, CFO

DISCLAIMER
This presentation has been prepared independently by Dürr AG (“Dürr”).
The presentation contains statements which address such key issues as Dürr´s strategy, future financial
results, market positions and product development. Such statements should be carefully considered,
and it should be understood that many factors might cause forecast and actual results to differ from
these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations,
developments in raw material and personnel costs, physical and environmental risks, legal and
legislative issues, fiscal, and other regulatory measures. Stated competitive positions are based on
management estimates supported by information provided by specialized external agencies.
2© Dürr Aktiengesellschaft, CCI, Conference Call - H1/Q2, August 1, 2013

PROJECT PIPELINE LOOKS STRONG FOR
Q4 2013/Q1 2014
3
Book-to-bill at 1.14
Slight sales shortfall due to temporary effects: project execution phases
Orders on hand at around one year‘s sales
© Dürr Aktiengesellschaft, CCI, Conference Call - H1/Q2, August 1, 2013
in € m H1 2013 H1 2012 Q2 2013 Q2 2012
Incoming orders 1,293.5 1,404.3 -7.9% 613.1 725.2 -15.5%
Sales revenues 1,131.7 1,163.3 -2.7% 589.2 600.9 -1.9%
Orders on hand (06/30) 2,457.5 2,386.5 3.0% 2,457.5 2,386.5 3.0%

4
INCOMING ORDERS REACHED AN AVERAGE
OF € 622 M IN THE LAST 4 QUARTERS
in € m
162 179 169 130
274 244
294
466
337 325
378
289
333 324 302
78 69 83
65
97 127
155
182
116 166
137
104
150 182
144
81 101 101
152
144 165
159
189
149
160
175
141
125
146
138
18
13 22 17
26 21
35
29
17
28
35
16
35
28
29
0
100
200
300
400
500
600
700
800
900
1,000
Q 4
2009
Q 1
2010
Q 2
2010
Q 3
2010
Q 4
2010
Q 1
2011
Q 2
2011
Q 3
2011
Q 4
2011
Q 1
2012
Q 2
2012
Q 3
2012
Q 4
2012
Q 1
2013
Q 2
2013
Clean Technology
Systems
Measuring and
Process Systems
Application
Technology
Paint and Assembly
Systems
339
362 375 364
557
643
541
866
619
679
725
550
643
680
613

5
INCOMING ORDERS
JANUARY – JUNE 2013 VS. 2012
1,404.3
291.4 318.8
262.8
460.0
71.3
1,293.5
477.3
302.3
145.5
301.4
67.0
0
200
400
600
800
1,000
1,200
1,400
1,600
Total China America Germany Europe w/o
Germany
Asia (w/o China),
Africa
2012
2013
-8%
+64%
-5%
-45%
-34%
-6%
in € m
Strong EM business (e.g. China, Brazil)
North America catches up
Germany and Europe weak as expected

H1: GROSS MARGIN IMPROVEMENT DRIVES
EARNINGS INCREASE
Gross margin at 19.4% in H1 2013 (H1 2012: 17.0%)
Moderate increase of SG&A costs: +5.8%
EBIT margin reached 7.9% in Q2 2013 (Q2 2012: 7.1%)
in € m H1 2013 H1 2012 Q2 2013 Q2 2012
Gross profit on sales 219.9 198.1 11.0% 117.8 105.8 11.3%
EBITDA 95.9 85.2 12.6% 53.7 49.7 8.0%
EBIT 82.4 72.3 14.0% 46.4 42.7 8.7%
Net income 52.4 44.0 19.1% 29.7 26.8 10.8%

STRONG CASH FLOW IMPROVEMENT OF
€ 87.7 M IN Q2
in € m H1 2013 H1 2012 Q2 2013 Q2 2012
EBT 72.2 59.5 40.9 36.1
Depreciation and amortization of non-current assets 13.5 12.8 7.4 6.9
Interest result 10.5 13.1 5.7 6.9
Income taxes paid -16.3 -8.8 -13.6 -6.0
Provisions 9.6 -15.2 3.3 0.8
Net working capital -53.6 -120.0 20.2 -91.6
Other -23.8 -6.0 -22.1 1.0
Cash flow from operating activities 12.1 -64.6 41.8 -45.9
Interest paid (net) -0.7 -2.1 -0.1 -1.1
Capital expenditures -21.7 -15.0 -13.9 -10.2
Free cash flow -10.3 -81.7 27.8 -57.2

NWC IN Q2: DECREASE OF € 23 M VERSUS Q1
AS EXPECTED
8
NWC => Further decrease during H2 realistic
DWC => Already within the target range of 20 to 25 days
06/30/2013 03/31/2013 12/31/2012 06/30/2012
NWC in € m 153.2 176.4 98.6 151.2
DWC (Days Working Capital) 24.4 29.3 14.8 23.4
DSO (Days Sales Outstanding) 119.9 128.4 104.3 119.4

WIP AND PROGRESS BILLINGS: ONGOING
IMPROVEMENT OF NEGATIVE WIP BALANCE
1
2
3
4
1 2 4
2 3
- -
+
in € m 06/30/2013 12/31/2012 06/30/2012
Assets
WIP in excess of billings 411.8 349.1 375.2
Liabilities
Work in process from contracts (WIP) -995.7 -1,200.6 -1,262.7
Progress billings 1,479.2 1,654.8 1,733.2
Billings in excess of WIP 483.5 454.2 470.5
Machinery business
WIP -45.1 -28.0 -33.1
Progress billings 40.6 32.2 32.9
Billings in excess of WIP -4.5 4.2 -0.2
Balance
Total WIP less total progress billings -67.2 -109.3 -95.1
Prepayments (liabilities) 524.1 486.4 503.4

SOLID FINANCIAL RATIOS
Equity ratio should increase further in H2 after dividend payout in Q2
Particularly strong ROCE
1) annualized
06/30/2013 12/31/2012 06/30/2012
Equity in € m 438.0 432.1 386.6
Equity ratio in % 23.8 23.9 22.1
Net financial status in € m 43.0 96.7 -48.3
Cash in € m 269.6 349.3 235.5
Gearing in % -10.9 -28.8 11.1
ROCE1)
in % 34.7 43.9 29.5

HIGHER CAPEX TO ADJUST CAPACITIES TO
INCREASED BUSINESS VOLUME
© Dürr Aktiengesellschaft, CCI, Conference Call - H1/Q2, August 1, 2013 11
0
5
10
15
20
25
30
35
40
45
50
2009 2010 2011 2012 2013e
New/modernized test centers in Japan,
USA and Germany
New site for Measuring and Process
Systems in China
Capacity expansion in Poland
New assembly hall for painting and sealing
robots in Bietigheim-Bissingen
Capacity increase at Dürr Assembly
Products (e.g. measuring, adjustment
and testing technology) and at Paint and
Final Assembly Systems (e.g. workshop)
Capacity increase in glueing activities
in € m

PAINT AND ASSEMBLY SYSTEMS
Book-to-bill at 1.12
EBIT margin increased from 5.7% (H1 2012) to 7.8% (H1 2013) due to solid order execution,
improved order quality and economics of scale
Operating result: Better than budgeted
in € m H1 2013 H1 2012 Q2 2013 Q2 2012
Incoming orders 625.8 703.4 301.7 378.7
Sales revenues 559.2 531.2 290.7 278.4
EBIT 43.5 30.2 24.5 16.8

Order backlog (€ 500 m) at record high
Book-to-bill at 1.3
Sales increase in H2 expected
EBIT margin above the 10% level in Q2 as well
APPLICATION TECHNOLOGY
in € m H1 2013 H1 2012 Q2 2013 Q2 2012
Incoming orders 325.9 303.2 143.5 137.0
Sales revenues 256.4 264.5 135.6 141.0
EBIT 27.3 25.6 14.4 14.0

MEASURING AND PROCESS SYSTEMS
Sales at Balancing and Assembly Products stable, orders slightly above sales in H1 2013
Pronounced sales decline at Cleaning and Filtration Systems due to selective order intake in 2012,
order intake stabilized in H1 2013
Earnings decrease due to lower sales volume, capacity reductions and structural changes at
Cleaning and Filtration Systems; Balancing and Assembly Products with strong margins but lower
volumes in general industry
Weaker order momentum in general industry, but still on a high level
in € m H1 2013 H1 2012 Q2 2013 Q2 2012
Incoming orders 284.4 334.5 138.4 174.8
Sales revenues 273.7 323.8 139.3 157.2
EBIT 16.3 22.8 10.5 13.2

CLEAN TECHNOLOGY SYSTEMS
Incoming orders slightly below previous year´s level
Positive result despite start-up costs in energy efficiency activities
Book-to-bill at 1.4
in € m H1 2013 H1 2012 Q2 2013 Q2 2012
Incoming orders 57.4 63.2 29.5 34.8
Sales revenues 42.4 43.8 23.6 24.3
EBIT 1.3 0.7 0.8 1.5

PASSENGER CAR SALES DEVELOPMENT
JANUARY - JUNE 2013/12
Change year-over-year in %
-10
-9
-8
-7
-7
-2
5
8
21
-10 -5 0 5 10 15 20 25
India
Japan
Germany
new EU countries
Western Europe
Russia
Brazil
USA
China

75% EMERGING MARKETS’ CONTRIBUTION
TO GROWTH BETWEEN 2012 AND 2017
China, India, Malaysia, Indonesia and Thailand with expected LV production growth >9%
19.6 20.7 21.3 22.3 23.2 23.9
19.3 18.9 20.0 21.7 22.7 23.4
21.8 21.6 22.9 23.8 24.6 25.3
16.6 18.2
20.6
23.1
25.0 26.01.9 1.7
1.9
2.2
2.4 2.5
0
10
20
30
40
50
60
70
80
90
100
110
2012 2013 2014 2015 2016 2017
America Europe Asia (without China) China Other
CAGR in %
Source: own estimates, PwC
Last update: July 2013
in m units
4
6
9
3
4
79.2 81.1
86.7
93.1 97.9
101.1

5.7
36.6
106.5
176.9
2009 2010 2011 2012 2013e
EBIT margin / EBIT in € m
2.9%
0.5%
5.5%
7.4%
1,217
1,460
1,782
1,464
1,185
1,642
2,685 2,597 2,300-
2,500
2005 2006 2007 2008 2009 2010 2011 2012 2013e
1,078
1,261
1,922
2,400
2,400-
2,600
2009 2010 2011 2012 2013e
OUTLOOK:
7.5% EBIT MARGIN IS ACHIEVABLE
Incoming orders in € mSales in € m
7-7.5%

OUTLOOK: STRONG CASH FLOW/FREE CASH
FLOW GENERATION EXPECTED
Free cash flow in € mCash flow in € m
19
95
55
128 118
2009 2010 2011 2012 2013e
64
23
92 66
2009 2010 2011 2012 2013e
Higher capex included in free cash flow expectation for 2013

SUMMARY
H1 2013 on track, EBIT margin reached 7.3%
Book-to-bill at 1.14; order backlog at one year’s sale
Strong growth potential for global automotive industry, pipeline is filling up again
Positive 2013 outlook unchanged: margins and orders at the upper end of the target range
Cash flow expected to improve considerably in 2013/2014, free cash flow should
exceed € 70 m p.a. in 2013/2014

FINANCIAL CALENDAR
08/30/2013 Commerzbank Conference, Frankfurt
09/12/2013 Credit Suisse Conference, London
09/16/2013 - 09/18/2013 UBS Conference, New York
09/23/2013 - 09/25/2013 Baader Bank / Berenberg-Goldman Sachs /
Unicredit-Kepler-Cheuvreux Conference, Munich
11/06/2013 Interim report for the first nine months of 2013:
Analysts' Conference
CONTACT: Dürr Aktiengesellschaft
Günter Dielmann
Corporate Communications & Investor Relations
Carl-Benz-Str. 34
74321 Bietigheim-Bissingen
Germany
Phone +49 7142 78-1785
E-mail investor.relations@durr.com

www.durr.comwww.durr.com
CONFERENCE CALL
RESULTS JANUARY – JUNE 2013
DÜRR AKTIENGESELLSCHAFT
Bietigheim-Bissingen, August 1, 2013
Ralf W. Dieter, CEO
Ralph Heuwing, CFO

CONFERENCE CALL RESULTS JANUARY – JUNE 2013

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