DMG Mori Announce Record 1st Qtr Financial Results
DMG Mori has reported order intake rose to €861.6m, a 46% increase over the previous year €589.8) and sales revenue increased to €561m which represented a 33% increase over the previous year €421.6m) in the first quarter of 2022.
Chairman of the executive board Christian Thönes said: “We had an excellent start to the year and 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.”
The new machines business in particular contributed to this with an increase of 50%. Domestic orders grew by 40% to €243.6m while international orders increased by 49% to €618m (previous year. The share of international orders grew from 70% in 2021 to 72% in 2022.
Sales revenues rose 33% to €561m 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 said it 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.
DMG Mori said 2022 will remain challenging – particularly due to the war in Ukraine of which the duration, extent and global economic impact can hardly be estimated.
The company continued: “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 €2.5bin.”
“Sales revenues are estimated to be around €2.3bn. We expect EBIT of around €180m. Free cash flow is to be around €130m. 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.”
For more information: www.dmgmori.com