• Order intake rises to € 861.6 million (+46%; previous year: € 589.8 million)
• Sales revenues increase to € 561.0 million (+33%; previous year: € 421.6 million)
• EBIT grows by +374% to € 55.9 million (previous year: € 11.8 million)
• EBIT margin at 10.0% for the first time (previous year: 2.8%)
• Free cash flow increases to € 55.4 million (+40%; previous year: € 39.6 million)
Chairman of the Executive Board Christian Thönes: “We had an excellent start to the year and even achieved new record figures for order intake, EBIT, EBIT margin and free cash flow in the 1st quarter. The current financial year again presents us with major challenges. The war in Ukraine, the lockdown in parts of China, global supply and material shortages, high raw material and energy costs are affecting the entire industry. DMG MORI nevertheless confirms the forecasts for 2022.”
Order intake // All-time high due to strong new machine business
The global market for machine tools was impacted in the 1st quarter 2022 by the Ukraine war, global supply shortages as well as rising inflation. However, DMG MORI made a strong start to the current financial year: order intake rose to a new record of € 861.6 million (+46%; previous year: € 589.8 million). The new machines business in particular contributed to this with an increase of 50%. Domestic orders grew by +40% to € 243.6 million (previous year: € 174.6 million). International orders went up by +49% to € 618.0 million (previous year: € 415.2 million). The share of international orders was 72% (previous year: 70%).
Sales revenues // High utilization of capacities at production plants
Sales revenues rose by +33% to € 561.0 million (previous year: € 421.6 million) despite continuing difficulties in the supply of materials and high logistics shortages. As in the previous year, the export ratio was 68%. Pressure on global supply chains intensified further in the 1st quarter 2022. Thanks to a stable, long-standing network of partners and suppliers, DMG MORI was able to secure the material supply in the production plants. We counter longer delivery times with targeted measures, such as the expansion and optimization of assembly, logistics and production capacities.
Results of operations, financial position and net worth // EBIT, EBIT margin and free cash flow at all-time high levels
The results of operations also developed very successfully despite more difficult market and general conditions. The consistent and sustainable optimization of our cost structure is paying off: EBITDA increased by +164% to € 73.0 million (previous year: € 27.7 million). EBIT rose by +374% to the record level of € 55.9 million (previous year: € 11.8 million). The EBIT margin reached an all-time high at 10.0% (previous year: 2.8%). As of 31 March 2022, the group reports EAT of € 39.6 million – a plus of 394% compared to the previous year (€ 8.0 million).
The financial position also developed very positively: free cash flow grew by +40% to € 55.4 million, thus reaching a new high in the 1st quarter (previous year: € 39.6 million).
Employees // Team further strengthened
On 31 March 2022, the group had 6,715 employees, including 164 trainees (31.12.2021: 6,821). Personnel expenses amounted to € 143.4 million (previous year: € 126.6 million). The personnel ratio improved to 25.2% (previous year: 29.1%). As an attractive employer, DMG MORI focuses on diversity and equal opportunities, flexible and innovative working environments as well as training and personnel development. As a “Leading Employer 2022”, DMG MORI is among the TOP 1% of a total of 160,000 evaluated companies in Germany.
Research and development // Technology leadership and sustainability in harmony
Expenditure on research and development remained stable at a high level of € 18.3 million (previous year: € 16.3 million). In 2022, we will present 36 innovations together with DMG MORI COMPANY LIMITED – thereof 5 world premieres, 7 automation solutions, 19 digital innovations including 10 technology cycles and 5 DMG MORI Components.
Our traditional Open House in Pfronten will take place for the first time for two weeks from 9-21 May 2022 – live and digitally. We expect over 5,000 participants at this industry highlight to get informed about our latest technological developments.
Technology leadership and sustainability are in harmony at DMG MORI. The internationally renowned institute EcoVadis has awarded DMG MORI the Platinum Medal in the Sustainability Rating. This means that we are among the TOP 1% of over 35,000 companies rated worldwide. The use of holistic automation and end-to-end digitization solutions makes our machines even more efficient and thus even more sustainable.
Forecast 2022 // Forecasts for the full year confirmed
2022 will remain challenging – particularly due to the war in Ukraine of which the duration, extent and global economic impact can hardly be estimated. Already at the end of February, DMG MORI immediately stopped all sales and service activities in Russia as well as production in Ulyanovsk. This also included all deliveries of machines, spare parts, components and services to Russia. In addition, the global economy is being impacted by the ongoing corona pandemic, rising inflation, more difficult material supplies as well as high raw material, transportation and energy costs.
Nevertheless, the 1st quarter of 2022 has once again shown: DMG MORI is a stable and reliable partner even under difficult external conditions. We therefore confirm our forecasts for the full year: We plan order intake of around € 2.5 billion. Sales revenues are estimated to be around € 2.3 billion. We expect EBIT of around € 180 million. Free cash flow is to be around € 130 million. Our forecasts are subject to the condition that the global market and general conditions do not change significantly due to the war in Ukraine and the lockdown in parts of China.
DMG MORI is keeping up a high speed – both operationally and strategically – in particular with the expansion of our digital subscription business model PAYZR for Software-as-a-Service and Equipment-as-a-Service and with new production plants. The opening of the highly automated and fully digitized production plant DMG MORI Manufacturing Solutions in Pinghu near Shanghai is planned for 2023.
DMG MORI AKTIENGESELLSCHAFT
The Executive Board
Company Profile // DMG MORI
DMG MORI AKTIENGESELLSCHAFT is a worldwide leading manufacturer of machine tools with sales revenues of over € 2.0 billion and more than 6,800 employees. In the “Global One Company”, around 12,000 employees are in direct contact with over 100,000 customers from 55 industries. DMG MORI is present in 87 countries worldwide – with 16 production plants, 111 sales and service locations – and is actively advancing the future fields of automation, digitization and sustainability.
High-precision machine tools and technologies from DMG MORI are at the beginning of global value chains. Integrated automation and end-to-end digitization solutions extend our core business with turning and milling machines, Advanced Technologies and Additive Manufacturing. With modular products, we enable an easy, fast, scalable entry into digital manufacturing as well as end-to-end digitization. With PAYZR – PAY with Zero Risk – for Equipment-as-a-Service and Software-as-a-Service, DMG MORI is also implementing a completely digital subscription business model. Customers benefit from fast innovation cycles without risk – with maximum planning security, cost and price transparency and full flexibility. Our mission: Empower our customers in manufacturing and digitization!
Our technology excellence is bundled within the main sectors of Aerospace, Automotive, Die & Mold as well as Medical and Semiconductor. With the DMG MORI Qualified Products (DMQP) partner program, we offer perfectly matched peripheral products from a single source. Our customer-oriented services cover the entire life cycle of a machine tool – including training, repair, maintenance and spare parts service. With our online customer portal my DMG MORI, we enable digital, direct access to our service experts and digitize all service processes.
Sustainability at DMG MORI is globally and holistically oriented. Both our “Company Carbon Footprint” and “Product Carbon Footprint” are climate-neutral already today – and that along the entire supply up to the customer. Our vision: Be the most attractive global machine tool manufacturer with digitized and sustainable products!