DMG MORI raises full-year forecast due to success of MX

August 21, 2023

DMG MORI reported its financial results for the first half of the fiscal year ending December 2023 on August 3, 2023.

Under International Financial Reporting Standards (IFRS), net sales increased 14.4% year-on-year (YoY) to 249.5 billion yen, operating income increased 27.5% YoY to 22.6 billion yen, and net income increased 32.0% YoY to 14.9 billion yen. Although consolidated orders received decreased 7.9% YoY to 275.8 billion yen, the average order value per order increased significantly to 56.8 million yen from 49.8 million yen in the previous year, reflecting the company’s “Machining Transformation (MX),” a series of initiatives including process integration, automation, and digital transformation (DX).

The company also announced a revision to its full-year forecast. It raised its consolidated new orders from 500 billion yen to 520 billion yen, sales from 500 billion yen to 525 billion yen, and operating income from 50 billion yen to 52.5 billion yen. Dr. Masahiko Mori, President of DMG MORI, said: “Orders have declined and are in an adjustment phase, but we haven’t seen a significant recession and there are signs that conditions have bottomed out. Our forecast for fiscal 2024 is for higher growth than in the current fiscal year.”