Press Release Financial Reports
30.07.2019|Steady business development despite weak market environment / Forecasts 2019 confirmed

DMG MORI increases EBIT by +11% in 1st half year 2019

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  • Order intake achieves € 1,412.3 million as planned (-10%; previous year: € 1,577.1 million)
  • Sales revenues increase by +5% to € 1,276.4 million (previous year: € 1,215.1 million)
  • EBIT rises by +11% to € 103.4 million (previous year: € 93.0 million)
  • EBIT margin improves to 8.1% (previous year: 7.7%)
  • Free cash flow at € 81.9 million is significantly above the previous year (+22%; € 67.2 million)

Bielefeld // DMG MORI AKTIENGESELLSCHAFT recorded a high level of steady business development in the first six months of 2019 despite an increasingly difficult market environment. As planned, order intake achieved € 1,412.3 million (-10%; previous year: € 1,577.1 million). Sales revenues increased by +5% to € 1,276.4 million (previous year: € 1,215.1 million). EBIT grew by +11% to € 103.4 million (previous year: € 93.0 million). The EBIT margin improved to 8.1% (previous year: 7.7%). Free cash flow rose by 22% to € 81.9 million (previous year: € 67.2 million).

Chairman of the Executive Board Christian Thönes: "The first half of the year went well for DMG MORI – despite declining demand. Once again we confirm the forecasts for the full year. We look forward to the EMO in September and present a firework of innovations – especially in the future fields of automation, digitization and ADDITIVE MANUFACTURING."


Order Intake //

In the second quarter, order intake developed steadily at the high level of the previous quarters despite the increasingly difficult market environment and, as planned, reached € 704.0 million (-7%; previous year: € 755.3 million). In the first half year we achieved order intake of € 1,412.3 million (-10%; previous year: € 1,577.1 million). Domestic orders were € 402.9 million (previous year: € 453.2 million). International orders amounted to € 1,009.4 million (previous year: € 1,123.9 million). Thus, the share of international orders amounted to 71% as in the previous year.


Sales Revenues //

Sales revenues increased in the second quarter to € 647.2 million (+2%; previous year: € 633.3 million). At the end of the first half year, sales revenues achieved a new record high of € 1,276.4 million (+5%; previous year: € 1,215.1 million). International sales revenues grew by +7% to € 887.5 million (previous year: € 830.3 million). Domestic sales revenues amounted to € 388.9 million (+1%; previous year: € 384.8 million). The export share was 70% (previous year: 68%).


Order Backlog //

As at 30 June 2019, the order backlog amounted to € 1,745.3 million (31 Dec. 2018: € 1,609.9 million). 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.


Results of Operations, Financial Position and Net Worth //

Earnings at the DMG MORI group continued to develop positively. In the second quarter EBITDA reached € 69.7 million (previous year: € 65.9 million). EBIT amounted to € 53.0 million (previous year: € 52.0 million) and EBT rose to € 52.7 million (previous year: € 52.0 million). EAT was € 37.1 million (previous year: € 36.4 million). At the end of the first half year the DMG MORI group reached new record highs: EBITDA improved to € 143.0 million (+19%; previous year: € 120.5 million). EBIT increased by +11% to € 103.4 million (previous year: € 93.0 million). The EBIT margin improved to 8.1% (previous year: 7.7%). EBT rose by +10% to € 101.9 million (previous year: € 92.3 million). As at 30 June 2019, the group reports EAT of € 71.8 million (previous year: € 64.7 million).

Alongside the good earnings performance, the financial position once again developed positively: free cash flow increased by +22% to € 81.9 million (previous year: € 67.2 million). The balance sheet total amounted to € 2,511.1 million as of 30 June 2019 (31 December 2018: € 2,440.5 million). The equity ratio improved to 51.5% (31 December 2018: 49.1%).


Employees //

On 30 June 2019 the group had 7,444 employees, of whom 336 were trainees (31 Dec. 2018: 7,503). In comparison with year-end 2018, the number of employees has practically remained the same. At the end of the first half year, 4,495 employees (60%) worked for our domestic companies and 2,949 employees (40%) for our international companies. Personnel costs amounted to € 307.0 million (previous year: € 290.5 million). The personnel expenses ratio improved to 22.3% (previous year: 22.5%).


Research and Development //

The current financial year is marked by the EMO – the biggest machine tool trade fair worldwide. From 16 to 21 September DMG MORI will be the largest exhibitor, presenting a firework of innovations on 10,000 m2 – especially in the future fields Automation, Digitization and ADDITIVE MANUFACTURING. The highlights in brief:

Automation

  • 29 automation solutions
  • WH Flex – modular automation concept for workpiece and pallet handling for up to nine machine tools
  • new automated guided vehicle systems (AGV)
  • “Digital Twin” – 80% faster to productivity

Integrated Digitization – more than 30 digital innovations

  • DMG MORI Connectivity – for fully networked production
  • my DMG MORI – the new customer portal for service optimization
  • new CELOS APPs, such as the APPLICATION CONNECTOR
  • comprehensive DMG MORI monitoring
  • efficient production planning and control
  • WERKBLiQ – digital maintenance optimization

ADDITIVE MANUFACTURING

  • integrated process chains – from the material cycle to simulation to service and consulting
  • LASERTEC 65 3D hybrid – new with adaptive process control


Forecast 2019 //

The worldwide market for machine tools is expected to grow at a much slower rate in 2019. In their April forecast, the German Association of Machine Tool Builders (VDW) and the British economic research institute, Oxford Economics, are only expecting growth in global consumption of +2.3% to € 76.0 billion (October forecast: +3.6%). The overall economic situation is becoming increasingly difficult. The demand for capital goods is decreasing noticeably. Therefore, it cannot be ruled out that VDW and Oxford Economics will further reduce growth rates in their October forecast.

However, DMG MORI once again confirms its 2019 forecasts: For the current financial year we are still planning order intake of around € 2.6 billion and sales revenues of around € 2.65 billion. EBIT should amount to around € 200 million and the free cash flow should be around € 150 million.

DMG MORI AKTIENGESELLSCHAFT
The Executive Board

Disclaimer, Hinweis zu den zukunftsbezogenen Aussagen

Disclaimer, Hinweis zu den zukunftsbezogenen Aussagen

Zukunftsbezogene Aussagen //

Diese Pressemitteilung enthält zukunftsbezogene Aussagen, die auf aktuellen Ein­schätzungen des Managements über künftige Entwicklungen beruhen. Solche Aussagen beruhen auf den heutigen Erwartungen und bestimmten Annahmen des Managements. Sie unterliegen Risiken, Ungewissheiten und anderen Faktoren, die dazu führen können, dass die tatsächlichen Verhältnisse einschließlich der Ertrags-, Finanz- und Vermögenslage von der DMG MORI AKTIENGESELLSCHAFT wesentlich von denjenigen abweichen oder negativer ausfallen als diejenigen, die in diesen Aussagen ausdrücklich oder implizit angenommen oder beschrieben werden. Die Geschäftstätigkeit von der DMG MORI AKTIENGESELLSCHAFT unterliegt einer Reihe von Risiken und Unsicherheiten, die auch dazu führen können, dass eine zukunftsgerichtete Aussage, Einschätzung oder Vorher­sage unzutreffend wird. Sollten Unsicherheitsfaktoren und Unwägbarkeiten eintreten oder sollten die Annahmen, auf denen diese Aussagen basieren, sich als unrichtig erweisen, könnten die tatsächlichen Ergebnisse wesentlich von den in diesen Aussagen als erwartet, antizipiert, beabsichtigt, geplant, angestrebt, geschätzt oder projiziert genannten Ergebnissen abweichen. Zukunftsbezogene Aussagen sind nicht als Garantie oder Zusicherung der darin genannten zukünftigen Entwicklungen oder Ereignisse zu verstehen. 


Es gibt zwei Unternehmen die unter „DMG MORI“ firmieren: die DMG MORI AKTIENGESELLSCHAFT mit Sitz in Bielefeld, Deutschland und die DMG MORI COMPANY LIMITED mit Sitz in Nara, Japan. Die DMG MORI AKTIEN­GESELLSCHAFT ist (mittelbar) von der DMG MORI COMPANY LIMITED beherrscht. Diese Meldung bezieht sich ausschließlich auf die DMG MORI AKTIENGESELLSCHAFT. Ist in dieser Meldung von „DMG MORI“ die Rede, meint dies ausschließlich die DMG MORI AKTIENGESELLSCHAFT und die von ihr i.S.d. § 17 AktG abhängigen Unternehmen. Ist von der „Global One Company“ die Rede, steht dies für die gemeinsamen Aktivitäten der
DMG MORI COMPANY LIMITED und DMG MORI AKTIENGESELLSCHAFT inklusive sämtlicher Tochtergesellschaften.

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