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DMG MORI AG FY18 Results Up; Warns On Continued Uncertainties In FY19

DMG MORI AKTIENGESELLSCHAFT, a German manufacturer of cutting machine tools, reported Tuesday that fiscal 2018 EBIT climbed 21% to 217.1 million euros from 180.1 million euros last year. This corresponds to an EBIT margin of 8.2%.

Sales revenues increased 13% to 2.66 billion euros from 2.35 billion euros a year ago. Order intake grew 8% to 2.98 billion euros from previous year's 2.75 billion euros.

Looking ahead for fiscal 2019, the company noted that the global economy continues to be marked by worldwide uncertainties, such as the trade conflict between the US and China, the possible disorderly EU exit from the UK as well as the current debt situation in Italy.

According to forecasts by VDW and Oxford Economics from October 2018, worldwide machine tool consumption is expected to grow at a slower rate of +3.6% in 2019, compared to previous year's +8.5%. The trend of decreasing dynamics which has already begun to emerge in autumn of 2018 is thus continuing.

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