DMG MORI SEIKI increases income
- Order intake rose by 8% to € 1,740.8 million (previous year: € 1.616.6 million)
- Sales revenues reached € 1,562.4 million (+6%; previous year: € 1,480.5 million)
- EBT rose to € 106.7 million (+34%; previous year: € 79.8 million)
- Earnings after taxes increased to € 73.7 million (+34%; previous year: € 55.1 million)
Bielefeld. DMG MORI SEIKI AKTIENGESELLSCHAFT has completed the first nine months of the financial year 2014 as planned. As at 30 September, we were able to further increase sales and in particular, income: sales rose by 6% to € 1,562.4 million (previous year: 1,480.5 million). EBITDA amounted to € 145.9 million (+19%; previous year: € 122.4 million), EBIT was € 111.7 million (+27%; previous year: € 88.3 million) and EBT rose to € 106.7 million (+34%; previous year: € 79.8 million). As at 30 September 2014, the group reports earnings after taxes of € 73.7 million (+34%; previous year: € 55.1 million).
In the third quarter sales revenues amounted to € 528.0 million (+4%; previous year: € 505.5 million). In the first nine months, sales revenues reached € 1,562.4 million and thus were 6% above the previous year‘s figure (previous year: € 1,480.5 million). The domestic group sales revenues rose by 15% to € 551.9 million. International sales revenues amounted to € 1,010.5 million. The export share was 65% (previous year: 68%).
Order intake in the third quarter amounted to € 530.7 million (-3%; previous year: € 546.7 million). The previous year’s quarter was especially influenced by the leading trade fair for machine tools, the EMO in Hanover. As at 30 September, order intake achieved € 1,740.8 million, an increase of 8% (previous year: € 1,616.6 million). Domestic orders amounted to € 628.6 million (previous year: € 527.5 million). International orders were € 1,112.2 million (previous year: € 1,089.1 million). The international share of orders was 64% (previous year: 67%).
On 30 September 2014 the order backlog within the group was € 1,210.3 million (previous year: € 1,121.1 million).
The DMG MORI SEIKI group was able to further improve income in the third quarter: EBITDA rose to € 55.7 million (+10%; previous year: € 50.7 million), EBIT amounted to € 43.9 million (+12%; previous year: € 39.2 million) and EBT reached € 42.1 million (+18%; previous year: € 35.6 million). As of 30 September EBITDA was € 145.9 million (+19%; previous year: € 122.4 million), EBIT amounted to € 111.7 million (+27%; previous year: € 88.3 million) and EBT rose to € 106.7 million (+34%; previous year: € 79.8 million). As of 30 September 2014, the group reports earnings after taxes of € 73.7 million (+ 34%; previous year: € 55.1 million).
Capital expenditure in property, plant and equipment, and in intangible assets in the first nine months amounted to € 78.6 million (previous year‘s figure: € 61.7 million).
On 30 September 2014, the group had 7,131 employees of whom 244 were trainees (31 Dec. 2013: 6,722). The number of employees has risen by 409. Our domestic companies have 3,912 employees (55%) and our foreign companies have 3,219 employees (45%). Personnel costs amounted to € 371.4 million (previous year‘s period: € 342.4 million). The personnel expenses ratio was 22.8% (previous year‘s period: 22.7%).
The DMG MORI AKTIENGESELLSCHAFT stock has seen a volatile development in the course of the third quarter. The price in the beginning of the reporting period was € 25.15 (1 July 2014), then rose to its highest level of the year at € 26.82 (25 July 2014). The current share price is € 19.93 (24 Oct. 2014).
Forecast
The global machine tool market is expected to stagnate in the year 2014 according to the latest forecasts. The German Machine Tool Builders‘ Association (VDW) and the British Economic Research Institute, Oxford Economics, now forecast (status October 2014) a slight decline in worldwide consumption by 0.6% to € 58.7 billion (status April 2014: +3.7% to € 61.2 billion).
The DMG MORI SEIKI group is planning to further expand its global market presence and specifically invest in growth markets. The cooperation with our Japanese partner, DMG MORI SEIKI COMPANY LIMITED, still forms a key element of our strategy in this regard. By year’s end 2014, we will be present together with our cooperation partner in all important markets worldwide. We are utilising the synergies created in this area and will continue to further intensify them in the future.
Despite the market environment becoming increasingly diffcult because of the macro-economic uncertainties, we confirm our forecast. For the financial year 2014, we continue to expect an order intake of around € 2.3 billion. Annual sales are to reach a total of around € 2.2 billion. In the fourth quarter, sales and earnings contributions are expected to increase further. Based on the assumption that the market will continue to develop in line with our expectations, we are planning to achieve EBIT of around € 175 million and EBT of around € 165 million for the entire year. Premised on these developments, we are planning a higher dividend payment for the financial year 2014 than in the previous year.
DMG MORI SEIKI AKTIENGESELLSCHAFT
The Executive Board
Disclaimer, Forward-looking statement
Statements relating to the future:This press release contains statements relating to the future, which are based on current estimates by the management regarding future developments. Such statements are based on the management's current expectations and specific assumptions. They are subject to risks, uncertainties and other factors, which could lead to the actual future circumstances including the assets, liabilities, financial position and profit or loss of DMG MORI AKTIENGESELLSCHAFT differing materially from or being more negative than that those expressly or implicitly assumed or described in these statements. The business activities of DMG MORI AKTIENGESELLSCHAFT are subject to a series of risks and uncertainties, which may result in forward-looking statements estimates or forecasts becoming inaccurate. Should one of these factors of uncertainty or other unforeseeable event occur, or should the assumptions on which these statements are based prove incorrect, the actual results may differ materially from the results stated, expected, anticipated, intended, planned, aimed at, estimated or projected in these statements. Forward-looking statements must not be understood as a guarantee or assurance of future developments or events contained therein.
There are two companies using the name “DMG MORI“: DMG MORI AKTIENGESELLSCHAFT with registered office in Bielefeld, Germany, and DMG MORI COMPANY LIMITED with registered office in Nagoya, Japan. This release refers exclusively to DMG MORI AKTIENGESELLSCHAFT. If reference is made in this release to the “DMG MORI group”, this refers exclusively to the DMG MORI AKTIENGESELLSCHAFT and its group companies.