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GLOBAL ONE – Integration. Innovation. Quality.

July 31, 2014 

DMG MORI SEIKI increases order intake, sales revenues and result
Further positive and sustainable business development

  • Order intake rose by 13% to € 1,210.1 million (previous year: € 1,069.9 million)
  • Sales revenues reached € 1,034.4 million (+6%; previous year: € 975.0 million)
  • EBT rose to € 64.6 million (+46%; previous year: € 44.2 million)
  • Earnings after taxes increased to € 44.6 million (+46%; previous year: € 30.5 million)

Bielefeld. DMG MORI SEIKI AKTIENGESELLSCHAFT has completed the first half year of 2014 as planned and increased the order intake as well as the sales revenues and the profit in a challenging market environment: order intake reached € 1,210.1 million 
(+13%; previous year: € 1,069.9 million). Sales revenues increased by 6% to € 1,034.4 million (previous year: € 975.0 million). EBITDA amounted to € 90.2 million (previous year: € 71.7 million), EBIT was to € 67.8 million (previous year: € 49.1 million) and EBT rose to € 64.6 million (previous year: € 44.2 million). As at 30 June 2014, the group reported earnings after taxes of € 44.6 million (previous year: € 30.5 million).

Sales revenues in the second quarter reached € 529.3 million (previous year: € 508.9 million). At the end of the first half year sales revenues rose to € 1,034.4 million and thus were 6% above the previous year‘s figure (previous year: € 975.0 million). The group‘s international sales revenues rose by 3% to € 676.2 million. Domestic sales revenues were € 358.2 million. The export share was 65% (previous year: 67%).

In the second quarterorder intake was € 608.9 million and thus 10% above the previous year‘s figure (€ 551.2 million). In the first half year order intake rose by 13% and thus amounted to € 1,210.1 million (previous year: € 1,069.9 million). Domestic orders were 
€ 431.8 million (previous year: € 332.2 million). International orders amounted to 
€ 778.3 million (previous year: € 737.7 million). Thus the share of foreign business amounted to 64% (previous year: 69%).

On 30 June 2014, order backlog within the group was € 1,207.6 million (31 Dec. 2013: € 1,031.9 million).

The DMG MORI SEIKI group was able to improve its earnings situation again as planned in the second quarter: EBITDA rose to € 50.7 million (previous year: € 43.6 million), EBIT amounted to € 39.4 million (previous year: € 32.1 million) and the EBT reached € 38.5 million (previous year: € 29.1 million). As at 30 June 2014 , EBITDA amounted to € 90.2 million (+26%; previous year: € 71.7 million), EBIT reached € 67.8 million (+38%; previous year: € 49.1 million), and EBT rose to € 64.6 million (+46%; previous year: € 44.2 million). As at 30 June 2014, the group’s earnings after taxes was € 44.6 million (+46%; previous year: € 30.5 million).

Investments in intangible assets and plant, property and equipment were € 56.3 million during the first half year (previous year‘s value: € 36.3 million).

On 30 June 2014, the group had 7,013 employees of whom 206 were trainees (31 Dec. 2013: 6,722). The number of employees has thus risen by 291. 3,854 employees (55%) were working at our domestic companies and 3,159 employees at the international companies (45%). Personnel costs amounted to € 247.1 million (previous year: € 232.0 million). The personnel expenses ratio was 23.0% (previous year: 22.9%).

The share of DMG MORI AKTIENGESELLSCHAFT was quoted at the start of the second quarter at € 22.69 (1 April 2014) and closed the reporting period at € 25.43 (30 June 2014). The current share price is € 26.82 (25 July 2014).

Forecast

The global market for machine tools in 2014 is expected to develop positively. The German Machine Tool Builders’ Association (vdw) and the British economic research institute Oxford Economics are expecting 3.7% growth in world consumption to € 61.1 billion in their most recent forecast of April this year.

In the financial year 2014, we continue to expect overall positive global economic framework conditions. Accordingly, the presently stable economic development in Germany, the improved cyclical situation in Europe, and the stable growth dynamics in the USA should also have a positive effect on the result. In contrast, potential economic effects of the political conflicts in the Ukraine, in Syria, in Iraq and in Israel continue to present a factor of high uncertainty.

In the area of sales and service, the cooperation with our partner 
DMG MORI SEIKI COMPANY LIMITED is in line with the planned implementation for the Canadian market as of 1 July. By year’s end 2014, we will be present together with our cooperation partner in all important markets worldwide.

In the second half of 2014, we expect a further vitalisation of our business. We expect special impulses for the order intake from the autumn trade fairs and technology exibitions IMTS in ChicagoAMB in Stuttgart and JIMTOF in Tokyo, where we will present 10 world premieres together with our cooperation partner.

Based on the present business performance, we are planning an order intake of around 
€ 2.3 billion for the year 2014. Due to these expectations and based on our order backlog, the annual sales revenues should amount to around € 2.2 billion. Especially in the fourth quarter we expect rising sales revenues and earnings to the operating income. Based on the premise that the market development will proceed according to our expectations, we are planning to achieve an EBIT of around € 175 million and an EBT of around € 165 million. For the entire year 2014, we assume a positive free cash flow . However, the actual amount depends on the adjustments of the factoring volume as well as on the implemented investment volume. Based on these developments, we intend to distribute a dividend for the financial year 2014.

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.

Contact

Corporate Communications //
Investor Relations: 

Tanja Figge
Phone: +49 (0) 52 05 / 74 - 30 01
Fax: +49 (0) 52 05 / 74 - 30 81
E-mail: pr@dmgmori.com

Birgit Schlüter
Phone: +49 (0) 52 05 / 74 - 30 75
Fax: +49 (0) 52 05 / 74 - 30 81
E-mail: pr@dmgmori.com 

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