Dürr increasing share in HOMAG to 63.9% - Dürr Group

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Press Release May 4, 2018

Bietigheim-Bissingen, May 4, 2018 – Dürr AG has increased its share in HOMAG Group AG by 8% and now holds 63.9% of the capital of the global market leader for woodworking machinery. Dürr has acquired the additional shares from the Schuler-Klessmann shareholder group. Most of the 8% share package was acquired by exercising a call option for 7.05% of HOMAG Group’s share capital.

Further share of 8% acquired for € 34.8 million
HOMAG an important pillar of the Dürr Group

The call option had been agreed in 2014 between Dürr and the Schuler-Klessmann shareholder group. The purchase price of the 1,255,040 HOMAG shares stands at € 34.8 million, equivalent to an average of € 27.73 per share.

Dürr had acquired 55.9% of the shares in HOMAG Group AG for € 228.1 million in October 2014. Following the sale of the 8% package, the Schuler-Klessmann shareholder group still holds 14.1% of HOMAG’s capital. A pooling agreement is in force between Dürr and the shareholder group, providing for both parties to exercise their voting rights jointly at HOMAG’s annual general meeting to ensure a three-quarters majority where necessary.

Ralf W. Dieter, CEO of Dürr AG: “HOMAG made a significant contribution to earnings in 2017 and is continuing to grow substantially, constituting a major pillar within the Dürr Group.”

Since 2014, the HOMAG Group’s EBIT has risen by an average of 37% per year. In the record year of 2017, the HOMAG Group’s order intake increased by 17% to € 1.36 billion. This year, it is targeting new orders of up to € 1.5 billion. HOMAG’s operating EBIT rose to € 94.4 million in 2017 on sales of € 1.22 billion.

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