Technologies · Systems · Solutions - Dürr

Fully automated vehicle painting
processes contribute to quality and
cost-efficiency.
Consolidated management report
Measuring and Process Systems
The Measuring and Process Systems division (without DTS) expects an increase in
sales for 2005, particularly in North America, Eastern Europe, and Asia. Our global
presence enables us to achieve profitable growth in these important markets. We are
working continually on process improvements and occupy leading positions in our
markets.
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Group (continuing operations)
Our most important tasks for 2005 are to improve profitability
and minimize risks in order handling. We will continue consistently
implementing the earnings enhancement program to
improve our competitiveness. Within the framework of our total
risk management initiative, we will introduce additional tools for
limiting risks.
Sales in continuing operations in 2005 will probably be below
last year’s. A critical factor in that is the decline of incoming orders
in 2004 after the above-average base amount in 2003 due to a
large order received from General Motors. We are planning that
earnings before taxes and EBITDA in continuing operations will
be above the last year’s figures. Factors contributing to that will
include the expansion of fast-growing business lines outside the
automotive industry, such as process technology for the mining
industry and painting and assembly technology for the aircraft
industry.
Outlook risks
This outlook and other sections of this annual report include statements about future
developments. As is the case for any business activity conducted in a global environment,
such forward-looking statements are always subject to uncertainty. Our
information is based on the conviction and assumptions of the Board of Management
of Dürr AG, as developed from the information currently available. However, the following
factors may affect the success of our strategic and operating measures:
geopolitical risks, changes in general economic conditions (especially a prolonged
recession in Europe or North America), exchange rate fluctuations and changes in
interest rates, new products launched by competitors, and a lack of customer acceptance
for new Dürr products or services, including growing competitive pressure.
Should any of these factors or other imponderable circumstances arise, or should the
assumptions underlying the forward-looking statements prove incorrect, actual
results may differ from those projected. Dürr AG undertakes no obligation to provide
continuous updates of forward-looking statements and information. Such statements
and information are based upon the circumstances as of the date of their publication.
Stuttgart, March 24, 2005
Dürr Aktiengesellschaft
The Board of Management