DMG Mori increases order intake by 34% in Q1

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?DMG Mori has reported it recorded a dynamic course of business in the 1st quarter of 2021 – in particular due to the favourable development in order intake.

At €589.8m (+34%), the company saw significantly more orders than in the comparable quarter of the previous year. Sales revenues in the first three months reached €421.6m. EBIT amounted to €11.8m under continued difficult conditions. EBIT margin was 2.8%. Free cash flow improved significantly and was already clearly positive in the 1st quarter at € 39.6m (+208%).

Chairman of the executive board Christian Th?nes: “We started the year well and look forward with confidence to the further course of business. We continue to innovate and invest and are focusing on our strategic fit of automation, digitization and sustainability. It is already clear that our strategy is paying off. For 2021, we have a lot of tailwind and are therefore raising our forecast significantly.”

The global machine tool market showed signs of recovery in the 1st quarter 2021, the company reported. At DMG Mori, orders increased favourably in almost all industries. Order intake rose to €589.8m and was thus +34% above the previous year’s quarter (€440.2m).

DMG Mori also recorded strong product interest in holistic automation and end-to-end digitization solutions. Domestic orders increased to €174.6m (previous year: €143.3m). International orders rose to €415.2m (previous year: €296.9m). The share of international orders was 70% (previous year: 67%).

Sales revenues in the first three months reached €421.6m (-8%; previous year: €458m). The decline is due particularly to the lower order backlog at the beginning of the year and the continued travel restrictions, which continue to influence the service business. In addition, the recovery in order intake will only be reflected in sales revenues time delayed. The export ratio was 68% (previous year: 64%).

The DMG Mori forecasts that due to the good business development in the 1st quarter, it is raising the 2021 forecast significantly and order intake is now expected to reach around €2bn (previously: around €1.7bn) and sales revenues of around €1.8bn (previously: around €1.7bn).

The company expects EBIT of around €60m, compared with around €30m previously. Free cash flow is assumed to be around €70m (previously: around €20m).