Financial year 2019
DMG Mori increases turnover and profit
DMG Mori has presented its preliminary business figures. According to the figures, the Group increased its turnover by 2 percent to 2.7 billion euros, while profit was 3 percent up on the previous year at 154.6 million euros. However, incoming orders are declining.
Just in time for the Open House in Pfronten, machine tool specialist DMG Mori announces its 2019 balance sheet. The company increased its turnover by 2 percent year-on-year to 2,701.5 million euros - a new record in the company's history. EBIT (earnings before interest and taxes) increased from EUR 217.1 million in 2018 to EUR 221.7 million in 2019. As in the previous year, the EBIT margin is reported at 8.2 percent. Free cash flow improved from EUR 154.2 million to EUR 168.8 million. Incoming orders fell by 412.5 million euros to 2,563.1 million euros.
Christian Thönes, CEO of DMG Mori AG, is satisfied: "DMG Mori has met its forecasts - despite increasing economic headwinds. The record figures for sales, earnings and free cash flow confirm our course. Even in challenging times, we continue to step on the gas. We are consistently evolving from a mechanical engineering company into an integrated solution provider in the manufacturing environment. We are actively driving forward our future fields of automation, digitalization and additive manufacturing with dynamism and excellence."
Difficult market environment in 2020
The current year will be "challenging", as DMG Mori reports. The market environment is becoming noticeably more difficult. According to the German Machine Tool Builders' Association (VDW) and the British economic research institute Oxford Economics, demand for machine tools in Germany is expected to fall by -14.5 percent, which is significantly more than in many other countries (previous year: +6.5 percent). Global demand for machine tools will also decline in 2020. VDW and Oxford Economics are forecasting a decline of -0.6 percent to 71.7 billion euros (previous year: -2.8 percent; 72.1 billion euros). In view of the existing global uncertainties, it cannot be ruled out that these forecasts will be adjusted during the year.
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