Positive start to year for DMG Mori AG

Posted on 28 May 2018 and read 525 times
Positive start to year for DMG Mori AGThe machine tool company DMG Mori AG (www.ag.dmgmori.com) achieved record figures for order intake, sales revenues, earnings and free cash-flow in the first quarter of 2018.

Its order intake rose by 18% (compared to Q1 2017) to 821.8 million euros, marking the first time that one quarter’s orders have exceeded 800 million euros.

Domestic orders grew by 21% to 251.7 million euros, while international orders amounted to 570.1 million euros, an increase of 17% on the first quarter last year. The share of international orders was 69%.

Sales revenues of 581.8 million euros were 9% above Q1 2017 (533.9 million euros), while EBIT rose by 20% to 41.0 million euros.

In addition, the financial position also developed positively: free cash flow improved by 130.6 million euros to 13.0 million euros (from -117.6 million euros in Q1 2017), which means that the free cash-flow was positive in the first quarter for the first time in the company’s 148-year history.

On 31 March, the order backlog amounted to 1,541.9 million euros (up from 1,309.1 million euros on 31 December 2017).

However, the company says that the high order backlog and the very high demand on production capacity have led to longer delivery times.

At the end of March, the group had 7,237 employees (including 335 trainees); of these, 59% worked for its domestic companies, the balance for the group’s international companies.

Expenditure on research and development in the first quarter was 13.8 million euros, compared with 11.9 million euros in Q1 2017.

According to the spring forecast of the Kiel Institute for the World Economy, the world economy will grow by 4.0% this year, while the German machine tool market is predicted to grow by 6.7%.

Based on this and other positive data — plus the good order position in the first quarter — DMG Mori AG is planning an order intake of around 2.7 billion euros for the year, with sales revenues unchanged at about 2.45 billion euros.

There are two companies using the name DMG Mori: DMG Mori AG based in Bielefeld (Germany), and DMG Mori Co Ltd based in Nara (Japan). DMG Mori AG is (indirectly) controlled by DMG Mori Co Ltd.

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