DMG MORI’s Q3: Sales and profits up, success in MX

November 17, 2023

On October 25, DMG MORI announced its financial results for the third quarter (January-September) of the fiscal year ending December 2023. According to International Financial Reporting Standards (IFRS), consolidated orders received declined 7.5% year-on-year to 399.5 billion yen. Nevertheless, net sales increased 14.2% YoY to 380.2 billion yen, operating income increased 33.1% YoY to 35.6 billion yen, and net income increased 38.9% YoY to 23.0 billion yen, representing significant increases in both sales and income (see table).

The company’s recent emphasis on the “Machining Transformation (MX)” strategy has proven successful, contributing to the upturn in sales and profits. In the third quarter of fiscal 2023, the average unit order price increased significantly to 59.5 million yen from 49.8 million yen a year earlier. MX is a concept consisting of four key elements: process integration, automation, digital transformation (DX), and green transformation (GX).

For the full year, the company maintained its forecasts: orders received of 520 billion yen (down 4.1% YoY), net sales of 525 billion yen (up 10.6% YoY), operating income of 52.5 billion yen (up 27.4% YoY), and net income of 33.5 billion yen (up 31.9% YoY). If these targets are achieved, the company expects to achieve all-time highs in net sales and net income.