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  • HOMAG headquarter in Schopfloch
Press Release

Valuation proceedings concluded: Higher Regional Court of Stuttgart sets amounts for cash settlement offer and guaranteed dividend for HOMAG shareholders in final judgment

Bietigheim-Bissingen, January 7, 2025 — A final judgment has been handed down in the legal dispute regarding the appropriate cash settlement offer and the guaranteed dividend for the shareholders of HOMAG Group AG. The Higher Regional Court of Stuttgart has set the appropriate amounts for the cash settlement at €31.58 per share and for the guaranteed dividend at €1.19 gross per share. The court has thus upheld in a final ruling the previous judgment of the Regional Court of Stuttgart, which had been appealed by HOMAG shareholders.

In 2014, the Dürr Group acquired a majority stake in HOMAG Group AG through Dürr Technologies GmbH. Dürr and HOMAG subsequently entered into a domination and profit and loss transfer agreement in 2015. Under this agreement, Dürr committed to paying HOMAG shareholders who tender their shares to Dürr Technologies GmbH a cash settlement of €31.56 per share. In addition, a guaranteed dividend of €1.18 gross per share was set. In the subsequent valuation proceedings initiated by HOMAG shareholders, the Regional Court of Stuttgart slightly increased the cash settlement to €31.58 and the guaranteed dividend to €1.19 gross in 2019. An appeal against this decision has now been rejected in a final judgment by the Higher Regional Court of Stuttgart.

The judgment of the Higher Regional Court of Stuttgart was handed down shortly before Christmas 2024 and has been published in the Federal Gazette on January 3, 2025. This marked the start of a two-month period during which HOMAG shareholders can tender their shares to Dürr at a price of €31.58 per share. Once the tender period expires, the cash settlement offer will no longer be valid. The guaranteed dividend of €1.19 gross per share is paid annually replacing a variable dividend payment.

At the publication date of the Federal Gazette, Dürr held 67.7% of HOMAG shares, 14.1% were held by the Schuler and Klessmann families, 18.2% were in free float. Under the terms of a pooling agreement concluded with the Schuler/Klessmann shareholder group, Dürr holds around 82% of the voting rights at HOMAG’s annual general meeting. The domination and profit and loss transfer agreement governs the integration of HOMAG Group AG into the Dürr Group and simplifies the collaboration between Dürr and HOMAG. Under the terms of this agreement, the entire net profit earned by HOMAG Group AG accrues to Dürr. HOMAG’s non-controlling shareholders receive the guaranteed dividend.

The Dürr Group is one of the world's leading mechanical and plant engineering firms with particular expertise in the technology fields of automation, digitalization, and energy efficiency. Its products, systems, and services enable highly efficient and sustainable manufacturing processes – mainly in the automotive industry and for producers of furniture and timber houses, but also in sectors such as the chemical and pharmaceutical industries, medical devices, electrical engineering, and battery production. In 2023, the company generated sales of €4.6 billion. The Dürr Group has around 20,000 employees and 141 business locations in 33 countries. As of January 1, 2025, the former divisions Paint and Final Assembly Systems and Application Technology were merged to form the new Automotive division. Since then, the Dürr Group has been operating in the market with four divisions:  

  • Automotive: painting technology, final assembly, testing and filling technology  
  • Industrial Automation: automated assembly and test systems for automotive components, medical devices, and consumer goods as well as balancing technology solutions and coating systems for battery electrodes  
  • Woodworking: machinery and equipment for the woodworking industry  
  • Clean Technology Systems Environmental: air pollution control and noise abatement systems

This publication has been prepared independently by Dürr AG/Dürr group. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in disclosures of Dürr AG, in particular in the chapter “Risks” in the annual report of Dürr AG. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of the Dürr group may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr AG neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.

Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Net assets, financial position and results of operations of the Dürr group should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr AG can be found in our → financial glossary on the web page.