Expert Corporate Governance Service (ECGS)
EUR 984.80 Purchase single report

Etude de l'AG du 05/05/2017

General: The Dürr Group is one of the world's leading mechanical and plant engineering companies with expertise in automation. Products, systems and services offered by the Group enable highly efficient manufacturing processes in different industries. Dürr supplies not only the automotive industry but also other sectors such as the mechanical engineering, chemical and pharmaceutical industries and, since the takeover of HOMAG Group AG in October 2014, the woodworking industry. The Group has 92 business locations in 28 countries with around 15,200 employees. Dürr operates in the market via five divisions: Paint and Final Assembly Systems, Application Technology, Measuring

and Process Systems, Clean Technology Systems and Woodworking Machinery and Systems.

As of 31 March 2017, Heinz Dürr GmbH held 25.3%, Heinz und Heide Dürr Stiftung held 3.5%, The Goldman Sachs Group held between 5% and 10% and Deutsche Bank AG, Morgan Stanley, Deutsche Asset Management Investment GmbH, Alecta Pensionsförsäkring and AXA S.A. each held between 3% and 5% of the Company's shares.

In financial year 2016, Group revenues decreased by 5.1% to EUR 3.6bn, EBIT increased by 1.3% to EUR 271.4m and net income attributable to shareholders of Dürr AG increased by 12.6% to EUR 181.9m.

Item 5: Ernst & Young, Stuttgart, is proposed as auditor for the current financial year. We have no concerns over the ratio of non-audit/audit fees. However, we note that Ernst & Young has audited the Company since at least the financial year 1998 (no earlier data available) which exceeds our maximum acceptable term of office. We consider a longer term of office may impair the auditor's independence. We therefore recommend opposing the re-election of Ernst & Young as auditor.

DUET Group


Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.

As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

Expert Corporate Governance Service (ECGS)

Other Reports on these Companies
Other Reports from Proxinvest
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch