DMG MORI has announced that it recorded a dynamic course of business in the 1st quarter of 2021 – in particular due to the favourable development in order intake. €589.8m ($825.7) of new orders were recorded (+34%) representing a significant increase than in the comparable 2020 quarter. Sales revenues for the first three months reached €421.6m ($590.2). 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 Thönes: “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 DMG MORI reported in the statement with orders increasing favorably in almost all industries. DMG MORI also recorded strong product interest in holistic automation and end-to-end digitization solutions.
Domestic orders increased to €174.6 million (previous year €143.3 million). International orders rose to € 415.2 million (previous year €296.9 million). The share of international orders was 70% (previous year 67%).
The decline in sales revenue in the 1st quarter was due specifically to the lower order backlog at the beginning of the year and the continued travel restrictions, which continue to influence the service business.
DMG Mori forecasts that due to the good business development in the 1st quarter, it is raising its full year 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).
For more information: www.dmgmori.com
HOME PAGE LINK