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DMG Mori increases EBIT by 11%

Posted on 03 Sep 2019 and read 1116 times
DMG Mori increases EBIT by 11% DMG Mori AG recorded “steady business development” in the first six months of 2019, despite an increasingly difficult market environment.

As anticipated, order intake was 1,412.3 million euros (down 10% on the previous year’s 1,577.1 million euros).

Sales revenues increased by 5% to 1,276.4 million euros (previous year — 1,215.1 million euros), and EBIT grew by 11% to 103.4 million euros. The EBIT margin improved to 8.1% (previous year — 7.7%), and free cash-flow rose by 22% to 81.9 million euros (previous year — 67.2 million euros).

Chairman Christian Thönes (www.en.dmgmori.com) said: “The first half of the year went well for DMG Mori.

We look forward to the EMO show in September, where we will present a range of innovations — especially in the future fields of automation, digitalisation and additive manufacturing.”

In the second quarter, order intake developed steadily, despite the increasingly difficult market environment and — as planned — reached 704.0 million euros, down 7% on Q2 2018 (755.3 million euros); and of the first-half order intake of 1,412.3 million euros, domestic orders were 402.9 million euros (previous year — 453.2 million euros) and international orders were 1,009.4 million euros (previous year — 1,123.9 million euros).

This meant that the share of international orders amounted to 71%, as in the previous year.

Sales revenues increased in the second quarter to 647.2 million euros (up 2% on the previous year), and at the end of the first half of 2019, sales revenues achieved a new record high of 1,276.4 million euros, of which international sales revenues comprised 887.5 million euros (up 7%) and domestic sales 388.9 million euros (up 1%). At 30 June 2019, the order backlog was 1,745.3 million euros (at 31 December 2018, the backlog was 1,609.9 million euros).

Mr Thönes said: “The calculated production capacity of an average of seven months forms a good basis for the current financial year.

“Targeted measures to increase efficiency and productivity are in place to convert the order backlog into sales revenues and to shorten delivery times.

“DMG Mori once again confirms its 2019 forecasts. For the current financial year, we are still planning an order intake of around 2.6 billion euros and sales revenues of around 2.65 billion euros.

“EBIT should amount to around 200 million euros, and the free cash-flow should be around 150 million euros.”

There are two companies using the name DMG Mori: DMG Mori AG with its registered office in Bielefeld, Germany; and DMG Mori Co Ltd with its registered office in Nara, Japan.

DMG Mori AG is (indirectly) controlled by DMG Mori Co Ltd.