Source : EuropeanMarkets
Highlights first nine months of the year 2015
DMG MORI AG completed the first nine months of the financial year 2015 according to plan.
As at 30 September, we were able to increase sales revenues by 6% to € 1,648.8 million (previous year: € 1,562.4 million). We made good on more ground in the third quarter; order intake was slightly higher than in the previous year at € 1,742.0 million (previous year: € 1,740.8 million). EBITDA amounted to € 151.9 million (+4%; previous year: € 145.9 million), EBIT reached € 111.5 million (previous year: € 111.7 million) and EBT climbed to € 108.8 million (+2%; previous year: € 106.7 million). As at 30 September 2015, the group recorded earnings after taxes of € 75.1 million (+2%; previous year: € 73.7 million). Positive impulses were largely received from the Asian markets China and Korea. In Europe, we recorded a rise in the demand for machine tools foremost in Italy and France.
Market developments
The worldwide market for machine tools will decline in the year 2015 according to the latest forecasts. The VDW and the British economic research institute Oxford Economics expect in their latest forecast (status: October 2015) a decline in global consumption by 4.3% to € 59.3 billion (forecast of April 2015: +3.3% to € 64.0 billion). Also consumption in Germany will likely be slightly lower (-0.3%) in the year 2015.
We intend to increase the share of our Services division further with its globally leading service range and thereby ultimately our earning power. Our activities also aim at the advancement of complex services for the improvement of productivity of our installed machine tools, as well as the development of products to raise the scheduled service calls.
The overall economic dynamics in the third quarter have slowed down. In particular, the declines of the growth rates in China as well as the recession in key emerging countries burden the global economy. We believe that the global economic development will remain volatile overall.
Financial Outlook
Due to the difficult market environment and the present postponement of investments we are now planning an order intake from € 2.3 to € 2.4 billion for the current financial year.
We confirm our annual forecast: Sales revenues should amount to around € 2.25 billion. In the fourth quarter, we still expect rising sales and earnings contributions. On the assumption that the market development will continue according to our expectations, we plan to achieve EBIT of around € 165 million and EBT of around € 160 million for the complete year. Furthermore, we continue to assume a positive free cash flow between € 10 million and € 20 million. Provided that these figures are achieved, we plan to pay a dividend for the financial year 2015.
Source : Press Release DMG Mori Seiki AG, Bielefeld (Germany) October 29, 2015
