DMG MORI SEIKI successful in 3rd quarter
- Sales revenues rose to € 1,480.5 million (previous year: € 1,432.9 million)
- Earnings before taxes up 10% to € 79.8 million (previous year: € 72.7 million)
- Global focus intensified by cooperation
Bielefeld. As of 30 September, DMG MORI SEIKI AKTIENGESELLSCHAFT has improved sales revenues and earnings: sales revenues reached € 1,480.5 million (previous year: € 1,432.9 million). EBIT amounted to € 88.3 million (previous year: € 83.3 million) and EBT rose to € 79.8 million (previous year: € 72.7 million). As of 30 September 2013, the group reports earnings after taxes of € 55.1 million (previous year: € 49.8 million).
In the third quarter, order intake rose by 6% to € 546.7 million (previous year: € 518.0 million). Despite difficult market conditions, as of 30 September order intake reached € 1,616.6 million (previous year: € 1,706.4 million). This is due, amongst others, to the EMO 2013 in Hanover (16-21 September); as a result of the most important trade fair worldwide for machine tools, the group was able to sell 1,137 products at a value of € 276.4 million. The trend in order intake performed better than the industry’s orders for cutting machine tool building in Germany, which were 14% below the previous year’s comparable figure for the first eight months (source: VDW - German Machine Tool Builders’ Association).
In the third quarter, the capital increases that were announced in March 2013 were successfully carried out. The cooperation with the Japanese cooperation partner has been further strengthened through an alignment of the company names. This successful path will be continued as, in addition to jointly opening up further markets, in particular China and Russia, joint product development will be pushed from now on.
When compared to the same period in the previous year, as of 30 September the DMG MORI SEIKI group improved sales revenues, which totalled € 1,480.5 million and were thus 3% higher than the previous year’s figure (previous year: € 1,432.9 million). The group’s international sales revenues rose by 12% to € 999.9 million. The export share increased to 68% (previous year: 62%).
The group was also able to increase earnings as of 30 September: EBITDA reached € 122.4 million (previous year: € 113.0 million), EBIT was € 88.3 million (previous year: € 83.3 million) and EBT rose to € 79.8 million (previous year: € 72.7 million). As of 30 September, the group reports earnings after taxes of € 55.1 million (previous year: € 49.8 million).
Forecast 2013
The worldwide market for machine tools is expected to decline in 2013 – contrary to previous forecasts. The German Machine Tool Builders‘ Association (VDW) and the British economic research institute, Oxford Economics, have corrected their latest forecast (October 2013) substantially once again: They are now anticipating a decline in world consumption of 7.4% to € 61.6 billion (previously: + 2.4%; € 68.1 billion). The German machine tool industry should show a slight decline according to the forecast. The VDW expects a decline in consumption of 1.9% for the whole year.
The DMG MORI SEIKI group intends to intensify its global market presence. In the current financial year the partners are combining their joint sales and service activities in China and Russia and, following this, intend to extend the cooperation to Canada and Brazil. The cooperation partners will then be jointly present on all the important markets worldwide by year-end 2013. In addition, production capacity will be increased in strategically important markets.
Group raises forecasts for financial year 2013
The orders placed at the EMO, confirm the growing demand for machine tools overall. Forfinancial year 2013, the DMG MORI SEIKI group is now planning order intake of more than € 2 billion. Sales revenues should likewise amount to more than € 2 billion. In the fourth quarter the group is expecting a rise in sales revenues and an improvement in the quality of earnings. Based on the premise that the market will continue to develop in line with expectations, the DMG MORI SEIKI group is planning to achieve EBT of around € 130 million and, as a result, an annual net profit of around € 90 million. For financial year 2013, a higher dividend is planned than in the previous year.
DMG MORI SEIKI AKTIENGESELLSCHAFT
The Executive Board
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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.