Germany-headquartered DMG Mori AG, part of Japan-headquartered machine tool giant DMG Mori Co, reports record figures for order intake, sales revenues, EBIT (earnings before interest and tax) and free cash flow.
Order intake rose by 8% to €2 975.6 million, with sales increasing by 13% to €2 655.1 million. EBIT went up by 21% to €217.1 million – an EBIT margin of 8.2% – and free cash flow improved by €11.8 million to €154.2 million. All figures are provisional and subject to audit and the approval of the financial statements by the DMG Mori AG’s supervisory board. The latest forecast for 2018 for DMG Mori Co is £3.361 billion turnover.
“DMG Mori has continued to develop positively technologically, structurally and culturally. We have once again shown our innovative power. Our record levels of order intake, sales revenues, EBIT and free cash flow confirm our course. With dynamism and excellence, we continue to drive forward our future fields of automation, digitisation and additive manufacturing. Here we see great chances,” said Chairman of the executive board Christian Thönes.
The share of international orders was 70%, as in the previous year, while export sales hit 69% (previous year 70%).
Speaking about the year ahead, the issued statement says: “The global economy continues to be marked by worldwide uncertainties, such as the trade conflict between the US and China, the possible disorderly EU exit from the UK as well as the current debt situation in Italy. According to forecasts by VDW and Oxford Economics from October 2018, worldwide machine tool consumption is expected to grow at a slower rate of +3.6% in 2019 (previous year: +8.5%). The trend of decreasing dynamics, which had already begun to emerge in autumn of 2018, is thus continuing. In view of the existing geopolitical uncertainties, it cannot be ruled out that the forecasts will be adjusted.”
For more information contact Retecon Machine Tools on TEL: 011 976 8600 or visit www.retecon.co.za