DMG MORI Report Record Year in 2022
“2022 was a year of TOP performance for DMG MORI – and at the same time, a year of major global challenges: DMG MORI was able to reinforce and partly further expand its market position worldwide under again more difficult conditions and achieve a very successful financial year 2022. Thanks to the consistent implementation of our strategic focus on automation, digitization and sustainability, we were able to reach and in some parts exceed the forecasts that were increased during the course of the year” stated Chairman of the Executive Board Christian Thönes. The DMG MORI group is one of the largest manufacturers of metal cutting machines and a leading global manufacturer of CNC-controlled turning centers and milling machines.
Order Intake At All-Time High
In 2022, the global market for machine tools was characterized by numerous exogenous factors. DMG MORI was able to reinforce and in some parts further expand its market position worldwide under again more difficult conditions. Order intake in the core business with machine tools and services rose by +15% to an all-time high of € 2,904.2 million (previous year: € 2,516.7 million). Both the new machine business and the service business contributed to this positive development. New machine business performed well at +15% and reflects the increased demand for our integrated and sustainable automation and digitization solutions. Service business also grew by +15% and reached a new record level. Domestic orders increased by +20% to € 894.4 million. International orders rose by +14% to € 2,009.8 million. The share of international orders thus amounted to 69% (previous year: 70%).
Sales Revenues – Growth Despite Continued Difficulties
Sales revenues increased by +15% to € 2,365.7 million despite the continued difficult materials and logistics situation (previous year: € 2,052.9 million). The export ratio was 67% (previous year: 68%). DMG MORI was able to avoid production interruptions through consistent supplier and supply chain management as well as thanks to the stable, long-standing network of partners.
Results of operations also developed successfully despite more difficult market and general conditions. The sustainable optimization of our cost structure and stringent implementation of our efficiency improvement measures paid off: EBITDA increased by +56% to € 297.8 million (previous year: € 190.8 million). EBIT rose by +75% to € 216.5 million (previous year: € 123.8 million). EBIT margin also marked an all-time high at 9.2% (previous year: 6.0%). EAT grew by +79% to € 153.4 million (previous year: € 85.6 million).
The financial position developed encouragingly: Free cash flow amounted to € 171.7 million and was thus below the record level of the previous year (-5%; € 179.9 million), but slightly above the pre-corona level 2019 (€ 168.8 million).
Research and Development – Focus on Shopfloor
DMG MORI keeps the research and development budget stable at a high level and presented 23 innovations in 2022 together with DMG MORI COMPANY LIMITED – there were 3 world premieres, 6 automation solutions and 12 digital innovations including 8 technology cycles as well as 2 DMG MORI Components.
Confidence In 2023 Forecast
2023 remains challenging. DMG MORI is looking ahead to the current financial year with confidence despite a highly volatile market environment. The reasons for this are, on the one hand, the solid order backlog of over € 1.6 billion from the previous year and, on the other hand, the successful start to the year with the Open House in Pfronten. At this traditional exhibition, DMG MORI already presented 7 world premieres to more than 6,000 international trade visitors.
For more information: www.dmgmori.com