DMG MORI (GIL) Q3 2024 earnings summary

Executive summary

• Solid Q3 performance amid challenging economic conditions, with positive feedback at AMB 2024 and continued focus on innovation and transformation strategy.

• Sales revenues and order intake declined year-over-year due to subdued demand and delivery delays, but EBIT and EBIT margin improved.

Financial highlights

• Order intake for the first nine months: €1,733.6 million, down 16% year-over-year; Q3 order intake: €505.0 million, down 16%.

• Sales revenues for the first nine months: €1,604.3 million, down 11% year-over-year; Q3 sales: €500.1 million, down 18%.

• EBIT for the first nine months: €149.0 million, up 7%; EBIT margin improved to 9.3% from 7.7%.

• EAT for the first nine months: €18.3 million, down 82% due to discontinued operations; EAT from continuing operations: €110.2 million, up 7%.

• Free cash flow for the first nine months: €-10.6 million, compared to €24.5 million last year.

Outlook and guidance

• Order intake for 2024 expected between €2.2–2.3 billion (previously ~€2.3 billion).

• Sales revenues forecasted at €2.2–2.3 billion (previously ~€2.4 billion).

• EBIT guidance unchanged at around €200 million; free cash flow expected at €100 million (previously €150 million).

• No significant recovery expected in Q4 due to ongoing delivery delays and subdued demand.