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Hermle turnover up 15 % in Q1 2018 Incoming orders up by about a third 2018 full-year forecast reaffirmed
Hermle turnover up 15 % in Q1 2018
Incoming orders up by about a third
2018 full-year forecast reaffirmed
Gosheim, 15 May 2018 – Maschinenfabrik Berthold Hermle AG achieved growth in line with expectations in the first quarter of 2018. Group turnover of the Swabian machine tool manufacturer increased 14.8 % against the corresponding previous year period to € 99.9 million (previous year: € 87.0 million). Of that total, € 39.7 million was generated within Germany (previous year: € 44.5 mil-lion) and € 60.2 million on international markets (previous year: € 42.5 million). Earnings improved slightly over last year, though, as forecast, at a lesser rate than turnover, owing to price increases on some raw materials and the weaker US Dollar rate.
Hermle's Group-wide incoming orders increased by 32.7 % to € 126.9 million (previous year: € 95.6 million) in the period from January to March 2018. In Germany, incoming orders were up 43.7 % at € 56.6 million (previous year: € 39.4 million), while new orders on the international market increased by 25.1 % to € 70.3 million (previous year: € 56.2 million). There was particularly strong demand for the Performance Line C 650 machining centre launched in 2017, as well as for automation and software modules. The backlog of orders at the end of March 2018 was up 48.6 % year-on-year at € 152.0 million (previous year: € 102.3 million). The backlog was 21.6 % higher than the 2017 year-end figure of € 125.0 million.
The financial and asset position of the Hermle Group also remained solid as per the end of the first quarter. Capital investments in the reporting period were again slightly above the previous year comparative, and related primarily to sheet metal working, chip removal manufacturing and mineral casting.
At the end of March 2018 the Hermle Group had 1,198 employees, 90 more than at the end of last year (previous year: 1,108). This figure also includes the employees of automation solutions specialist Hermle-Leibinger Systemtechnik GmbH, which was fully acquired by Hermle with effect from January 1, 2018. The previous year's figure has been adjusted for the sake of better comparability. Recruitment was mainly for the new site in Zimmern ob Rottweil, where Hermle launched in-house production of machine beds made from mineral casting in mid-2017, as well as in the Automation division and at various international subsidiaries.
Hermle's healthy business growth has been maintained into the second quarter, despite the declining trend in early economic indicators. The company's Open House held at the end of April at the corporate headquarters attracted a record attendance of more than 2,900 visitors from over 30 countries. Automation and manufacturing digitalisation solutions were a particular focus of interest at the event.
Trends in the year to date are reaffirming the company's full-year forecast. For 2018 Hermle expects to see growth in turnover and earnings in the mid to upper single-digit percentage range, though earnings growth is likely to be less strong than the rate of rise in turnover owing to the increase in collective pay rates, price rises on procurement markets and the continuing weakness of the Dollar.
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