DMG Mori Machine tool giant reports strong growth from Jan.-March

The first quarter of 2014 has met expectations, according to DMG Mori Seiki.

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The company said order intake rose 16% to €601 million versus the year-earlier period. Sales revenues rose to €505 million from € 466 million.

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The company noted earnings continued to develop positively, with EBITDA reaching €39.5 million versus € 28.1 million in Q1 2013. As at 31 March 2014, the group reported earnings after taxes of €18.0 million, a sharp rise from €10.4 million last year.

Domestic orders surged to €223 million from €164 million, and international orders gained slightly to €379 million from €355 million. “Thus, the proportion of foreign business amounted to 63%,” the company said, noting that this represented a decline from 68% in the first quarter of last year. On 31 March 2014, order backlog within the group was € 1,128 million, the company reported.

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