Dürr Systems AG - Clean Technology Systems

Moody´s upgrades outlook for Dürr rating

Stuttgart - Moody´s has upgraded the outlook for Dürr AG´s corporate credit rating from 'negative' to 'stable'. Dürr AG´s corporate credit rating continues to stand at 'B2'.

Moody´s caused the upgrade with Dürr´s steady improvements in operating performance over recent months. The outlook change also reflects Moody´s expectation that Dürr will record further improvements not only in operating performance, thanks to a good and well diversified order intake, but also in efficiency and that Dürr will retain an adequate liquidity position.

Dürr reached all of its financial targets in fiscal 2006 and improved operating profit (EBIT before one-off expenses) from EUR 3.5 million to EUR 39.1 million. In Q1 2007 the specialist for paint shops and production technology continued its improved performance: operating profit increased to EUR 3.1 million after Dürr had recorded a loss of EUR -0.9 in
Q1 2006. For 2007 Dürr expects sales growth of between 5 and 10% and a further significant earnings improvement.

The Dürr Group is one of the world's leading suppliers of products, systems, and services for automobile manufacturing. Its range embraces important stages in the vehicle production process. As a systems supplier, Dürr designs and builds paint shops and final assembly plants. Dürr also supplies cleaning and filtration equipment used in the production of engine and transmission components as well as balancing and diagnostic systems for vehicle components. Business with automobile manufacturers and their suppliers accounts for about 90% of consolidated sales. Other important customer groups are the mechanical engineering sector and the chemical, pharmaceutical, coating, and aviation industries.

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