ULTRA Thermal Precision

Transcription

1 Ambient Ambient Temperature Temperature Ȃ Ȃ &'() 0/27 Ȃ * %!" !" #$ #$ After Before %!" 0.994!" #$ #$ ULTRA Thermal Precision Compensated Compensated Accuracy Accuracy

2 Agenda 1. Financial summary of 1 st quarter 2. Business environment 3. Topics from DMG MORI Optimization of global supply-chain Automation, Connected Industries and AI development Innovation Days Initiatives for SDGs (Training program) 1/27

3 Highlights of 1 st quarter Record-high quarterly order intake: JPY bn (JPY term: +34.0%) 2. Uplifted annual order forecast: JPY 470 bn.+ (Y-o-Y +4.8%) 3. Operating profit for the quarter: JPY 6.1bn +52% (previous year 4 bn.) 4. Free cash flow: JPY +4.7bn positive 5. Automation, Connected Industries, AI business development Technology Cycles well-sold 6. SDGs for human resources development (Training program) 7. Enhanced balance sheet (Year-end target: total assets JPY 500bn. or less, Equity ratio 25% or more) 2/27

4 Income statement summary FY2018 Q1 Jan Mar Changes Full-year (Jan - Dec) Changes (JPY bn) (%) forecast (%) Sales revenue % % Operating profit % % % to sales revenue 4.1% 5.4% 6.8% 7.8% Net financial costs (thereof, economic compensation associated with DA) (-2.1) (-2.1) Profit before taxes Net profit % % Net profit attributable to owners Depreciation & amortization Capital expenditure USD/JPY EUR/JPY /27

5 Quarterly financial results 2018Q1 YoY (JPY bn) 14.5 Sales +17% Operating profit +52% 15.0 (JPY bn) Sales revenue (left-axis) Operating profit (right-axis) Operating profit margin % 5.0% 5.6% 11.5% 5.4% 2017Q1 Q2 Q3 Q4 2018Q /27

6 FY2018.Q1 Operating profit bridge - v.s. FY2017.Q1 FY Q FY Q Changes Sales Volume Forex Q Q Currency Rate : USD/JPY EUR/JPY (JPY bn) Operating Profit 4.0 Volume Forex +0.5 Personnel expense -1.5 Evaluation of foreign-currency receivables R&D expense Operating -1.0 Profit 6.1 FY2017.Q1 FY2018.Q1 5/27

7 Cash flows - Starting with positive free cash flow from 1 st quarter (JPY bn) FY 1-3 Cash flow from operation Profit before taxes Depreciation and amortization Changes in working capital Others Cash flow from investments (thereof, acquisition of fixed assets) Free cash flows (JPY bn) / Quarterly free cash flows -

8 Optimizing total assets to improve capital efficiency - summary of financial position Assets Liabilities & equity JPY 567.4bn JPY 536.1bn JPY 567.4bn JPY 536.1bn Short-term financial assets Trade receivables Payables Advance payments Net Debt (interest-bearing debt - short-term financial assets) (JPY bn) Dec Inventories Interest-bearing debts Mar Fixed assets Obligation of AG share purchase Goodwill Other liabilities Dec 2018 Less than 90.0 Intangibles Other assets Shareholders equity Hybrid equity Dec 2017 Mar 2018 Dec 2017 Mar 2018 Total assets of AG (mn EUR) 2, /27 EUR/JPY closing rate

9 Agenda 1. Financial summary of 1 st quarter 2. Business environment 3. Topics from DMG MORI Optimization of global supply-chain Automation, Connected Industries and AI Iga Innovation Days Initiatives for SDGs (Training program) 8/27

10 Worldwide machine tool consumption (VDW/Oxford Economics) - Outlook of 2018 (Bn EUR) forecast As of Oct As of Apr % +4.6% +8.9% -2.6% +4.5% +3.6% +5.9% CY Forex (JPY) EUR E 2018.E /27 Source: Our estimation based on VDW / Oxford Economics, Apr. 2018

11 DMG MORI quarterly consolidated order intake JPY basis (100 mil JPY) EUR basis (million EUR) vs. Jan Mar 2017 JPY basis +34.0% EUR basis +21.7% 1,055 1,063 1,081 1, , ,206 1,123 1, ,385 1,039 Forex (JPY) USD EUR Jan-Mar CY12 Apr-Jun Jul-Sep Oct-Dec Jan-Mar CY13 Apr-Jun Jul-Sep Oct-Dec Jan-Mar CY14 Apr-Jun Jul-Sep Oct-Dec Jan-Mar CY15 Apr-Jun Jul-Sep Oct-Dec Jan-Mar CY16 Apr-Jun Jul-Sep Oct-DecJan-Mar Apr-Jun Jul-Sep Oct-DecJan-Mar CY17 CY /27

12 DMG MORI quarterly consolidated order intake (by region) (JPY bn) Bracket: YoY (+34%) S&P* (+14%) Asia (incl. China) (+22%) Americas (+43%) Japan (+83%) Germany (+41%) *Service & Parts EMEA (+25%) CY EUR/JPY 11/ Q1 Q2 Q3 Q Q

13 DMG MORI quarterly consolidated order intake (by industry) (100 million JPY) YoY in ( ) (+34%) S&P (+14%) Die&mold(+3%) Aerospace (+55%) SMEs (+59%) Others (+3%) Construction machinery (+38%) Medical (+38%) Energy/ Power generation (+38%) Electricity/Precision parts/ Semiconductor (+21%) Automotive (+30%) Machinery (+43%) CY EUR/JPY 12/ Q1 Q2 Q3 Q Q

14 Consolidated order intake - average price (million JPY) *Consolidated order intake : machines only 6-month moving average (thousand EUR) JPY basis(left axis:million JPY) EUR basis(right axis: thousand EUR) CY USD FX (JPY) EUR CY2012 CY2014 CY2016 CY2017 CY2018.1Q 2% 5% 5% 5% 5% 32% 34% 31% 36% 33% 38% 40% 35% 38% 43% Advanced Technologies 5-axis Machine 16% 12% 11% 27% 29% 25% 23% 24% 26% 14% 14% 26% 25% 20% 18% Horizontal Machining Center Millturn Center CMX V series Vertical Machining Center Turning Center 13/27

15 Consolidated stock and production (units) 3,500 3,000 Production 2,500 2,000 Stock at the end of the period 1,690 1,500 1,000 1,704 1,598 1,500 1,498 1,513 1,496 1,396 1,273 1,211 1,248 1,296 1,316 1,141 1,053 1,386 1,391 1,326 1, Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 CY2012 CY2013 CY2014 CY2015 CY2016 CY2017 CY /27

16 Order and sales composition (by region) * Value basis * Machine body only Consolidated machine order intake CY2018.1Q Consolidated machine sales CY2018.1Q Japan 50% Germany Japan 51% Germany USA USA Americas Americas China Asia Korea Taiwan EMEA* Russia Turkey China Asia Korea Taiwan EMEA* Russia Turkey *Europe, the Middle East and Africa 15/27

17 受注構成 CY2017 by industry 5% 1%4% 24% 7% 2% 8% 11% 18% 20% by customers number of employees 17% 4% 21% 23% 35% 4% 26% 16% * Value basis * Machine body only by product type 5% 14% 35% CY2018.1Q Medical Energy/ Power generation Electricity/ Precision parts/ SPE Die & Mold Aerospace 16/27 9% Construction machinery 5% 1%3% Machinery 501~1,000 3% 5% 27% 18% 22% 14% 1~20 CMX V Series 4% 7% 2% 6% SMEs* 22% Others 18% 101~500 Automotive/ Motor Cycle *Small and medium-sized enterprises 22% 1,001 or more Existing & potential users approx. 300 thousand 35% 21~100 Vertical Machining Center Turning Center Millturn Center 25% Advanced Technologies 14% 38% 5-axis Machine Horizontal Machining Center

18 Agenda 1. Financial summary of 1 st quarter 2. Business environment 3. Topics from DMG MORI Optimization of global supply-chain Automation, Connected Industries and AI Iga Innovation Days Initiatives for SDGs (Training program) 17/27

19 For on-time parts procurement - Delivery normalized by the end of June Development in delivery time hit rate 100% 90% Feb Apr -Jun Normalized Catch up with the schedule by March. Maintain planned volume from 2Q Consolidated production volume (unit) 1200 Q1: 2,824 units Q2: 3,294 units Actual result Forecast FY2017 average Jan Feb Mar Apr May Jun 18/27

20 Automation promoted with MATRIS Module Automation Transfer Robot Intelligence System Module Automation Transfer Robot Intelligence System:MATRIS Great modularity for easy installation No complex programming with an in-house E-box MAPPSConnected Flexible retrofit after delivery CMX 600V + MATRIS MATRIS (upper view) 19/27

21 Automation promotion in China Provide automation solutions to meet increasing needs in China Develop local engineers with robot automation expertise (Examples of automation solutions in China) DMU60evo&CMX Robot NLX Robot Pallet transfer system with QR code-equipped AGV(Automated Guide Vehicle) Automatic loading system with a vision sensor 20/27

22 Combined machining technology in Die & Mold - INTERMOLD Osaka (April) Die & Mold solutions with 5-axis and laser machines 5-axis machining 5-axis machining + laser finishing DMC 80 FD duoblock 5-axis machine DMU50 LASERTEC 45 Shape Axle case mold Surface texturing for plastic bottle mold 21/27

23 AI thermal compensation - Iga Innovation Days (May) Compensate thermal displacement in X,Y,Z direction NLX2500 Temperature data AI Deep learning Thermal compensation value 22/27

24 Extended application of in-house MASTER series MASTER spindle series speedmaster powermaster 5X torquemaster compactmaster turnmaster No initial failures 3-year warranty speed MASTER Total 149 models (plan) speed MASTER 23/27 20 power MASTER compact MASTER Total 271 machine models X torque MASTER turn 7 MASTER power MASTER 5X torque MASTER compact MASTER turn MASTER (plan)

25 Partnership and cooperation agreement with Nara and Mie Prefecture - For cultivating technology and skilled operators Planned cooperation fields Support local machining industry Contribute to R&D and operator development by lending machines Promote Connected Industries Mie Prefectural Governor (right) and Dr. Mori, at the conclusion ceremony DMU 50 3rd Gen. to be lent to labs and technical high schools Nara Prefectural Governor (right) and Dr. Mori, at the conclusion ceremony 24/27

26 DMG MORI Childcare Centers (Apr 2018-) Target:Pre-school children of permanent employees Highest-level education Nutrition education and eating manner Iga Nara Nagoya Tokyo Total Capacity Users Iga plant 25/27

27 Germany s best Training Company - HR development in DMG MORI AG Germany s best Training Company awarded by Capital * *German business magazine AG accepts 359 apprentices (as of Dec 2017) 26/27

28 Disclaimer This material contains targets, plans, etc. concerning the future of DMG MORI CO., LTD. and the DMG MORI Group. All predictions concerning the future are judgments and assumptions based on information available to DMG MORI at the time of writing. There is a possibility that the actual future results may differ significantly from these forecasts, due to changes in management policy or changes in external factors. There are many factors which contain elements of uncertainty or the possibility of fluctuation including, but not limited to, the following: Fluctuations in exchange rates Changes to the laws, regulations and government policies in the markets where DMG MORI CO., LTD. conducts its business DMG MORI CO., LTD. s ability to develop and sell new products in a timely fashion Instability of governments in the markets where DMG MORI CO., LTD. conducts its business Operational changes by the competent authorities or regulations related to anti-trust, etc. 27/27