DMG MORI increases EBIT by 11% in first half of 2019

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 said: “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 our innovations – especially in the fields of future automation, digitisation and additive manufacturing.”

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 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%).

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%).

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 presenting a firework of innovations on 10,000 m2 – especially in the future fields Automation, Digitisation and Additive Manufacturing.