DMG MORI (GIL) Q4 2024 earnings summary

Executive summary

• Order intake declined 13% year-over-year to €2,256.6m; sales revenues fell 11% to €2,228.3m.

• EBIT rose 7% to €245.4m, with EBIT margin improving to 11.0% from 9.2% year-over-year.

• EAT from continuing operations was €179.4m; EAT from discontinued operations was €-91.9m due to Russian asset loss.

• Free cash flow increased 25% to €117.0m; equity ratio improved to 57.0%.

• All adjusted full-year forecasts were achieved despite challenging global conditions.

Financial highlights

• EBITDA increased 7% to €326.0m; EBT up 7% to €254.7m year-over-year.

• Net income (EAT) dropped 46% to €87.5m, mainly due to the discontinued Russian operations.

• Sales backlog at year-end was €1,452.0m, down 5% from prior year.

• Cash and cash equivalents at year-end were €136.2m; net financial liabilities at €-115.2m.

• Market capitalization at year-end was €3.59bn; EPS from continuing operations was €2.16.

Outlook and guidance

• 2025 order intake forecast: €2.4–2.5bn; sales revenues: €2.2–2.3bn.

• EBIT expected between €150–160m; free cash flow between €110–130m.

• Segment guidance: Machine Tools sales €1.2–1.3bn, Industrial Services €1.0–1.1bn.

• Planned investments of ~€65m, R&D expenses to remain stable at ~€88m.

• Effects of possible compensation for Russian asset expropriation not included in forecasts.