At € 589.8 million (+34 percent), DMG Mori recorded significantly more orders than in the same quarter of the previous year. Sales in the first three months amounted to € 421.6 million. EBIT amounted to € 11.8 million under persistently difficult conditions. The EBIT margin was 2.8 percent. Free cash flow improved significantly and was already clearly positive in the first quarter at € 39.6 million (+208%).

CEO Christian Thönes: "We have made a good start to the year and are confident about the further course of business. We are continuing to innovate and invest and are focusing on our strategic fit of automation, digitalization and sustainability. One thing is already clear: our strategy is working. We have a strong tailwind for 2021 and are therefore raising our forecast significantly."

Demand is increasing worldwide in all sectors

The global machine tool market showed signs of recovery in the first quarter of 2021. DMG Mori saw a pleasing increase in orders in almost all sectors. Incoming orders rose to € 589.8 million, up 34% on the same quarter of the previous year (€ 440.2 million). The company also recorded strong product interest in integrated automation and end-to-end digitalization solutions. Orders from Germany increased to € 174.6 million (previous year: € 143.3 million). Orders from abroad rose to € 415.2 million (previous year: € 296.9 million). The foreign share was 70% (previous year: 67%).

Sales in the first three months amounted to € 421.6 million (-8%; previous year: € 458.0 million). The decline is due in particular to the lower order backlog at the beginning of the year and the ongoing travel restrictions, which continue to hamper the service business. In addition, the recovery in incoming orders will only be reflected in sales with a time lag. The export ratio amounted to 68% (previous year: 64%).

Focus on automation, digitalization, sustainability

At € 16.3 million, expenditure on research and development remained stable at a high level (previous year: € 17.6 million). With dynamism and excellence, we are consistently evolving from a mechanical engineering company into a holistic solution provider in the manufacturing environment. The focus is on the strategic triad of automation, digitalization and sustainability.

DMG Mori is one of the first industrial companies to have a climate-neutral product carbon footprint since January 2021. From raw material to delivery, all machines delivered worldwide are completely CO2-neutral.

Expansion through innovation and investment

2021 will remain challenging. The global market recovery is being hampered by rising raw material prices, longer delivery times and a more difficult supply of materials. According to the latest April forecast by the VDW and British economic research institute Oxford Economics, global consumption of machine tools is set to increase by +15.2% to € 66.6 billion in 2021 (October forecast: +17.7%).

DMG Mori is entering the 2021 financial year with confidence and expects demand to continue to pick up - provided there are no significant effects from the coronavirus mutations. Due to the good business development in the first quarter, the company is significantly raising its forecast for 2021: Incoming orders are now expected to reach around € 2.0 billion (previously: around € 1.7 billion). Sales are now expected to reach around € 1.8 billion (previously: around € 1.7 billion). We are currently forecasting EBIT of around € 60 million (previously around € 30 million).