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DMG Mori achieves stable growth

Posted on 23 Nov 2021 and read 1247 times
DMG Mori achieves stable growthDMG Mori AG achieved high growth rates in the first nine months of 2021. Order intake rose by 62% to 1,928.6 million euros (previous year 1,187.8 million euros), and sales revenues increased by 11% to 1,450.9 million euros (previous year 1,305.3 million euros). Domestic orders increased by 70% to 585.8 million euros, while international orders were up by 59% to 1,342.8 million euros. The share of international orders amounted to 70% (previous year 71%).

The ‘earnings and financial situation also continued to develop positively’, with EBIT rising by 57% to 83.7 million euros, and the EBIT margin improving to 5.8% from 4.1%. At 30 September 2021, the company’s free cash flow reached a new record level of 149.0 million euros (previous year -65.8 million euros).

Christian Thönes, chairman of the executive board, said that while the global market for machine tools continued to recover, it was characterised by increasing material and supply shortages. “DMG Mori achieved a significant 68% increase in order intake in the third quarter of 2021 (Q3 2020 403.8 million), with the new machine business in particular growing by 84%.

Overall, orders rose to 679.9 million in Q3 2021 — some 14% above the high pre-corona level of 2019 (596.1 million euros). “Sales revenues in Q3 increased to 517.4 million euros, with the export ratio 68% (previous year: 69%). On 30 September 2021, the order backlog amounted to 1,256.1 million euros (at 31 December 2020 the order backlog was 852.2 million euros) — equivalent to an average production capacity of seven months.

We are countering the resulting longer delivery times with focused measures such as the expansion and optimisation of assembly and production capacities. On 30 September 2021, the group had 6,718 employees, including 217 trainees (on 31 December 2020 the number was 6,672).

“In the run-up to EMO in Milan, DMG Mori presented 25 completely climate-neutral high-tech machines at a pre-EMO show at Deckel Maho Pfronten — live on site and also digitally. The focus was on automation with more than 10 solutions for workpiece and pallet handling with cell controller technology, as well as the driverless transport system TH-AGV for autonomous tool transport between machines and the central tool magazine.

“The overall economy and the global market for machine tools are on the road to recovery. According to the October forecast of the VDW and British economic research institute Oxford Economics, the global machine tool consumption is expected to increase by 14.1% to 67.1 billion euros in 2021, although this development is increasingly being influenced by rising raw material prices, material and delivery shortages.

“Due to the good business development in the first nine months of 2021, the company is once again increasing its forecasts. For the full year, we are now planning an order intake of around 2.5 billion euros (previously some 2.25 billion euros), and sales revenues of around 2.0 billion euros (previously some 1.95 billion euros).”

There are two companies using the name DMG Mori: DMG Mori AG, with registered office in Bielefeld, Germany; and DMG Mori Co Ltd, with registered office in Nara, Japan. DMG Mori AG is indirectly controlled by DMG Mori Co Ltd. This information refers exclusively to DMG Mori AG.