DMG MORI Q1 EBIT Declines; Increases 2021 Forecast – Quick Facts

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(RTTNews) – DMG MORI reported first quarter earnings after tax 8.0 million euros compared to 17.2 million euros, prior year. EBIT was 11.8 million euros compared to 25.3 million euros. EBIT margin was 2.8%, down from 5.5%, last year.

First quarter sales revenues were 421.6 million euros, down 8% from prior year. The company said the decline is due particularly to the lower order backlog at the beginning of the year and the continued travel restrictions. Order intake was 589.8 million euros, up 34% from last year.

The company increased its 2021 forecast significantly. Order intake is now expected to reach around 2.0 billion euros (previously: around 1.7 billion euros). The company assumes sales revenues of around 1.8 billion euros (previously: around 1.7 billion euros). The company currently expects EBIT of around 60 million euros, compared to around 30 million euros previously.