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DMG Mori — year starts as planned

Posted on 28 May 2019 and read 1311 times
DMG Mori — year starts as plannedDMG Mori AG says it has started the 2019 financial year as planned.

Its order intake in the first quarter was stable at the high level of the two last quarters in 2018, although — as expected — the 708.3 million euro intake was below (-14%) the record level of the previous year (821.8 million euros), which was buoyed by various major projects.

Domestic orders amounted to 229.0 million euros (251.7 million euros in Q1 2018), while international orders reached 479.3 million euros (570.1 million euros in Q1 2018).

International orders accounted for 68% of orders (69% in Q1 2018).

Sales revenues rose to 629.2 million euros and were 8% above the previous year’s level, with exports accounting for 68% of this figure.

On 31 March 2019, the order backlog amounted to 1,688.8 million euros (compared to 1,609.9 million euros on 31 December 2018).

DMG Mori AG (www.dmgmori.com) says the calculated production capacity of an average of seven months forms a good basis for the current financial year, adding that targeted measures to increase efficiency and productivity are in place to convert the order backlog into sales revenues and to shorten delivery times.

The company says it achieved record earnings in the first three months of 2019, with EBITDA amounting to 73.3 million euros, up 34% on Q1 2018. EBIT rose significantly — by 23% — to 50.4 million euros, while the EBIT margin improved to 8.0% (+1% on Q1 2018).

The free cash-flow of 31.5 million euros was also significantly above the previous year’s quarter (+142%).

On 31 March 2019, the group had 7,489 employees (including 346 trainees). Of these, 4,512 worked for its domestic companies and 2,977 for its international companies.

With regard to 2019 as a whole, DMG Mori AG says it is planning an order intake of around 2.6 billion euros, sales revenues of around 2.65 billion euros, an EBIT of about 200 million euros and a free cash-flow of some 150 million euros.

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