Bielefeld // For DMG MORI AKTIENGESELLSCHAFT 2019 was a very successful year with new record values – and that in a difficult market environment. We achieved best figures in sales revenues, earnings and free cash flow. Whereas the machine tool industry in part suffered significantly higher losses, our order intake performed better and reached € 2,563.1 million as planned. Sales revenues increased by +2% to € 2,701.5 million. EBIT rose to € 221.7 million. This corresponds to an EBIT margin of 8.2%. Free cash flow improved by +9% to € 168.8 million.
All figures are provisional and subject to audit and the approval of the financial statements by the Supervisory Board.
Chairman of the Executive Board Christian Thönes: “DMG MORI has fulfilled its forecasts – and this with increasing economic headwind. The record levels in sales revenues, earnings and free cash flow confirm our course. Even in challenging times we keep pushing the gas. We consistently develop from a machine tool builder to an integrated solution provider in the manufacturing environment. With dynamic and excellence we are actively advancing our future fields automation, digitization and Additive Manufacturing.
In a difficult market environment order intake reached € 2,563.1 million and thus was below the record value of the previous year (€ 2,975.6 million). In the fourth quarter orders amounted to € 554.7 (previous year’s quarter: € 705.0 million). Domestic orders were € 714.8 million (previous year: € 882.6 million). International orders amounted to € 1,848.3 million (previous year: € 2,093.0 million). Thus, the share of international business was 72% (previous year: 70%).
At € 2,701.5 million, sales revenues rose to a new record high in the company’s history. They were up € 46.4 million or +2% compared to the previous year (€ 2,655.1 million). In the fourth quarter sales revenues increased by € 11.5 million to € 808.9 million (+1%; previous year: € 797.4 million).
Results of operations also increased further and reached new record values: EBITDA rose by 7% to € 299.8 million (previous year: € 280.8 million). EBIT reached € 221.7 million (+2%; previous year: € 217.1 million). The EBIT margin was 8.2% as in the previous year. EBT amounted to € 219.3 million (+2%; previous year: € 214.8 million). The group reports an EAT of € 154.6 million as of 31 December 2019 (+3%; previous year: € 149.5 million).
In the fourth quarter EBITDA amounted to € 87.1 million (previous year: € 96.6 million). EBIT was € 67.3 million (previous year: € 74.0 million). EBT reached € 67.0 million (previous year: € 73.1 million). In the fourth quarter the group reports an EAT of € 47.3 million (previous year: € 50.2 million).
Alongside the good earnings performance, the financial position once again developed positively in the financial year: free cash flow increased by +9% to the record figure of € 168.8 million (previous year: € 154.2 million).
Forecast 2020 //
Also 2020 will be a challenging year. The market environment will become noticeably more difficult. According to the Association of German Machine Tool Builders (VDW) and the British economic research institute Oxford Economics the machine tool consumption in Germany at -14.5% should decline noticeably stronger than in many other countries (previous year: +6.5%).
Global consumption of machine tools should also continue to decline in 2020. The VDW and Oxford Economics are forecasting a -0.6% decline to € 71.7 billion (previous year: -2.8%; € 72.1 billion). In view of the existing global uncertainties, these forecasts are likely to be revised during the course of the year.
DMG MORI traditionally started the new financial year with the Open House Pfronten. At this industry highlight, DMG MORI presents 8,000 international customers innovative solutions from the future fields automation, digitization and Additive Manufacturing as well as 4 world premieres right at the beginning of the year: DMU/DMC 65 H monoBLOCK, the modular PH CELL pallet system as well as the LASERTEC 400 Shape for laser texturing and LASERTEC 30 DUAL SLM for additive manufacturing. With dynamic and excellence, we consistently develop from a machine tool manufacturer to an integrated solution provider in the manufacturing environment. On the occasion of the annual press conference on 10 March 2020, we will publish further information on business development.
DMG MORI AKTIENGESELLSCHAFT
The Executive Board
Press release from DMG MORI AKTIENGESELLSCHAFT