Despite this, and what DMG MORI has described as other “stringent and sustainable cost management” decisions made during Q1 2021, its EBITDA still fell from the €43.2 million achieved in Q1 2020 to €27.7 million. In terms of operational spending, the company was able to cut its expenditure on personnel from €141 million in Q1 2020 to €127 million in Q1 2021, without dramatically reducing its headcount. The firm’s overall revenue was also hampered by its low order backlog at the start of the year, and it now anticipates a “time lag” before its resurgent demand is reflected in turnover. Given that 70% of DMG MORI’s orders came from international clients in Q1 2021, such travel bans will have affected its wider growth prospects, although it still generated €415 million from customers abroad, 40% more than in Q1 2020. By contrast, the firm also said that its services business continued to struggle during Q1 2021, due largely to COVID-19 restrictions, many of which remain in effect. Image via DMG MORI.ĭMG MORI doesn’t break down its earnings by segment, but it says that in Q1 2021 its orders increased “in almost all industries,” and that its automation and end-to-end digitization products (including its Lasertec 3D printers), performed particularly well.
“For 2021, we have a lot of tailwind and are therefore raising our forecast significantly.” DMG MORI has reported a 34% increase in orders between Q1 2020 and Q1 2021. It is already clear that our strategy is paying off.” “We continue to innovate and invest and are focusing on our strategic fit of automation, digitization and sustainability. “We started the year well and look forward with confidence to the further course of business,” Christian Thönes, Chairman of DMG MORI’s Executive Board.
Despite this, DMG MORI’s shares only fell by 2% after the results were published, indicating an understanding among investors that the company is now progressing towards a return to annual growth. In response, DMG MORI has raised its order forecast for 2021 from €1.7 billion to €2 billion, and its overall revenue guidance from €1.7 billion to €1.8 billion.Ĭompared to the €708 million in orders the firm achieved back in Q1 2019, it’s still 17% off the pace, and its consolidated revenue of €422 million in Q1 2021, remains 8% short of the €458 million reported in Q1 2020. Thanks to renewed demand from the company’s core target markets, its order intake rose significantly in Q1 2021, from the €440 million generated in Q1 2020 to €590 million. Leading machine tool manufacturer DMG MORI AKTIENGESELLSCHAFT (ETR: GIL) has announced that it saw a 34% increase in customer orders during Q1 2021.
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