0/31. LASERTEC 30 SLM Additive manufacturing with powder bed. NVX nd Generation. DMU 503rd Generation IR Conference 2017/8/8

Transcription

1 LASERTEC 30 SLM Additive manufacturing with powder bed NVX nd Generation Ultra-high spec machining center from Japan DMU 503rd Generation 0/31 The latest version of world best selling 5-axis machine

2 Agenda 1)Financial summary of 2 nd quarter 2)Business environment 3)Topics from DMG MORI Development of solution business Actions as leading company in the industry 1/31

3 Highlights of 2 nd quarter 2017 Strong order intake (JPY term :+24%(Apr-Jun), +16%(Jan - Jun)) JPY 5bn Operating profit in the 2 nd quarter (YoY 4.3x) Upward revision of annual forecast (Previous) (Revised) Order intake JPY 385bn JPY 410bn or more Sales revenue 380bn 403bn Operating profit 22bn 26bn Operating profit margin 5.8% 6.5% Great acceptance of Open House, Chicago (May) and Iga (Jun) Stronger presence with solution offering at EMO (Sep) 2/31

4 2017 Q2 Income statement summary Jan Mar Changes Apr Jun Changes Forecast Changes (JPY bn) (%) (%) Previous Now (amount) Sales revenue % % Operating profit % % Operating profit margin (%) 2.4% 4.1% 1.3% 5.0% 5.8% 6.5% Net financial cost (economic compensation associated with DA) (-2) (-2) Net profit attributable to owners of the parent company Depreciation & Amortization Capex USD/JPY EUR/JPY *Forex for the 2 nd half USD/JPY EUR/JPY /31

5 2017H1 (Jan - Jun) Operating profit bridge vs 2016H1 (JPY 100m) 2016.H H1 USD/JPY EUR/JPY Clean-up of non-core Material cost businesses reduction(synergies) Volume Forex -4 Cost increase in US -15 R&D -20 US headcount Mar Mar Jun thereof US subsidiary /31 34 FY2016.H1 Net improvement in US +29 FY2017.H1

6 2017Full Year (Jan - Dec) Operating profit bridge vs FY2016 and 2017/2 forecast (JPY 100m) USD/JPY EUR/JPY Clean-up of non-core businesses Turnaround of US subsidiary +35 Synergies +15 Fixed Cost (thereof personnel cost - 15~20) -25 Volume +60 Forex +8 R&D FY2016 FY2017 FY2017 5/31 (actual) (2017/2 forecast) (2017/8 forecast)

7 Cash flows (JPY bn) FY FY H1 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 *After consolidation of AG (Apr 2015) as comparable period /31 - Quarterly free cash flows

8 Financial position Short-term financial assets Trade receivables Inventories JPY 558bn Assets JPY 543bn Liabilities & Equities JPY 558bn JPY 543bn Payables Debt Net Debt Dec 31, 2016 Flee cash flows Dividend payout Payment to hybrid equity FX translation etc. Net increase (JPY bn) Mar 31, Fixed assets Goodwill Other liabilities Obligation of AG share purchase Free cash flows FX translation etc. Purchase of treasury stock Net reduction Intangibles Shareholders equity Jun 30, Other assets Hybrid equity Dec 31, 2017 below Dec 2016 Jun 2017 Dec 2016 Jun /31

9 Agenda 1)Financial summary of 2 nd quarter 2)Business environment 3)Topics from DMG MORI Development of solution business Actions as leading company in the industry 8/31

10 (billion JPY) 10,000 8,000 6,000 Worldwide machine tool consumption(vdw/oxford Economics) / DMG MORI consolidated order intake +2.1% 7, % 7, Machine tool industry worldwide JPY basis (left axis :billion JPY) +9.5% -13.4% +13.3% 8, % +4.2% 9, % -12.7% 8, % Machine tool DMG MORI industry worldwide Consolidated (billion EUR) order intake (100 million JPY) % 8, % ,000 3,006 Machine tool consumption worldwide EUR basis (right axis :billion EUR) 4,060 4,100 or more 3,838 3,670 3, % or more 40 2,000 DMG MORI consolidated order intake JPY basis (right axis :100 million JPY) 20 Exchange rate (JPY) 0 CY EUR E /31 * Source : VDW / Oxford Economics, Jul. 2017; 2017 without exchange rate effects; Total market (cutting and forming); DMG MORI AKTIENGESELLSCHAFT

11 DMG MORI quarterly consolidated order intake (100 million JPY) 1,200 1, JPY basis (left-axis :100 million JPY) 1,022 1, , , YoY change Jan-Jun Apr-Jun JPY basis +16.3% +24.0% EUR basis +19.1% +23.8% (million EUR) 1,121 1,200 1,034 1, EUR basis (right-axis:million EUR) Exchange rate (JPY) USD EUR 10/31 Jan-Mar CY12 Apr-Jun Jul-Sep Oct-DecJan-Mar CY13 Apr-Jun Jul-Sep Oct-Dec Jan-Mar CY14 Apr-Jun Jul-Sep Oct-DecJan-Mar CY15 Apr-Jun Jul-Sep Oct-DecJan-Mar CY16 Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun CY

12 Overview (by region & by industry) Region CY2016 CY2017 CY2017 (As at May 2017) (As at Aug 2017) Down Flat UP Down Flat UP Down Flat UP CY2016 CY2017 CY2017 (As at May 2017) (As at Aug 2017) Down Flat UP Industry Down Flat UP Down Flat UP Japan Automobile Europe USA Americas China Asia (ex. China) Aerospace Machinery Medical Die & Mold Energy Construction Electronics 11/31

13 Consolidated stock and production (units) 3,500 Production 3,000 2,500 2,000 1,500 Stock at the end of the period 1,704 1,690 1,598 1,500 1,498 1,513 1,496 1,396 1,386 1,391 1,273 1,211 1,248 1,296 1,316 1,326 1,249 1,141 1,053 1, Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 CY2012 CY2013 CY2014 CY2015 CY2016 CY /31

14 Consolidated order intake - average price (million JPY) *machine body only 6-month moving average (thousand EUR) JPY basis (left axis: million JPY) EUR basis (right axis :thousand EUR) CY USD/JPY EUR/JPY CY2012 CY2014 CY2016 CY2017.H1 2% 5% 5% 5% 34% 36% 38% 32% 31% 33% 35% 40% Advanced Technologies 5-axis Machine 16% 12% 11% 13% 27% 29% 25% 27% Horizontal Machining Center Milturn Center 23% 24% 26% 20% CMX V series Vertical Machining Center Turning Center 13/31

15 Order and sales composition (by region) * Value basis * Machine body only *Europe, the Middle East and Africa Consolidated machine order intake CY2017.H1 Consolidated machine sales CY2017.H1 USA Japan 15% 13% 47% 19% Germany USA Japan 19% 13% 54% 22% Germany Americas China 3% 9% Asia アジア 7% 34% EMEA* Russia Americas China 2% 8% Asia 6% 30% EMEA* Russia 14/31

16 Order composition (by industry) * Value basis * Machine body only *Small and medium-sized enterprises CY2016 CY2017.H1 Construction Medical machinery Others 1% 1% 4% 5% Energy/ Power generation Electricity/ Precision parts/ SPE 8% 24% Machinery Medical Energy/ Power generation Electricity/ Precision parts/ SPE Construction machinery 1% 2% 5% 4% 9% Others 24% Machinery Die & Mold 11% Die & Mold 8% Aerospace 11% 17% SMEs* 18% Automotive/ Motor Cycle Aerospace 11% 18% SMEs* 18% Automotive/ Motor Cycle 15/31

17 Order composition (by customers number of employees) * Value basis * Machine body only CY2016 CY2017.H1 1,001 or more employees 1,001 or more employees 501~1, ~1,000 15% 2% 1~20 24% 14% 3% 26% 1~20 23% 20% Existing + potential customers worldwide Approx. 300, ~500 36% 101~500 37% 21~100 63% 21~100 16/31

18 Order composition (by product type) * Value basis * Machine body only CY2016 CY2017.H1 Vertical Machining Center Turning Center ECOLINE CMX V series (From Sep 2016) 9% 1% 25% Millturn Center 16% Advanced Technologies 5% 11% 33% 5-axis Machine Horizontal Machining Center Vertical Machining Center Turning Center CMX V series Millturn Center 4% 27% 16% Advanced Technologies 5% 13% 35% Horizontal Machining Center 5-axis Machine 17/31

19 Agenda 1)Financial summary of 2 nd quarter 2)Business environment 3)Topics from DMG MORI Development of solution business Actions as leading company in the industry 18/31

20 Transition of technologies and competitors among machine tool industry 1960 s 70 s 80 s 90 s 2000 s 10 s 20 s - Technology Car Calculator Computer Office Computer Personal Computer Internet Mobile phone Smartphone Cloud computing Sensing technology VR AI Machine tools Universal Lathe NC Lathe Vertical MC Horizontal MC Mill-turn 5-axis machining Additive manufacturing Data-based IoT, Industry4.0 No. of makers No. of machine tool makers Time 19/31

21 DMG MORI s total solution High-spec machine Software Open innovation Technology Cycles Sensing Connectivity 20/31 System solution

22 Chicago Open House, May 2017 YoY +20% order intake both in volume and value System solution with US manufactured machines is well-received Order intakes during the open house (by factory) Europe 26% Value basis North America 28% CMX 1100 V NHX nd Generation NHX nd Generation NHX 6300 DMU 50 CMX 1100 V with robot module system Japan 46% NHX nd Generation 21/31

23 Iga Open House (Japan), June 2017 Packaged systems exhibited Loader + 4 robots CMX600V + Robot module system DMG MORI Loader <Robots> YASUKAWA FANUC NACHI DENSO NG Shooter Positioning equipment Conveyor Robot + Hand MAPPS-Connected We are the largest manufacturer and solution provider of machine tools 22/31

24 Benefit of 5-axis machine and value composition - a case from a customer in Japan Innovative productivity 3 machines 1 machine Value composition of 5-axis machine Portal 5-axis machines 3 Machine body 55% 45% Open Innovation DMU 600 G linear 1 Process time Half 23/31

25 Promotion of automation Future growth is expected, with strong demands Robot module system LPP RPP Loader module system (unis) 1,200 Delivery of system-integrated machines ( domestic production) 25% 1, Delivery (column) 7% 9% % of system machines 12% 16% 20% 20% 15% 10% 200 3% 4% 4% 5% E % 24/31

26 EMO 2017 Hannover, September 2017 The largest exhibition in the world. DMG MORI will present 80 machines and system solutions. Hannover Period :18-23 September, 2017 Venue :Hannover (Germany) <Main features> Digitalization Additive Manufacturing Automation Technology Excellence Automobile, Aerospace Medical, Die and mold 8 World premiers 25/31

27 Grand opening of Shanghai solution center November axis Excellence Center Transition of manufacturing in China from labor-intensive to knowledge-intensive The largest test-cutting site in China 26/31

28 The future of additive manufacturing Powder bed Present Future Quick delivery LASERTEC 30 SLM Powder nozzle Complex shape LASERTEC 65 3D Huge & heavy LASERTEC D 27/31

29 GREEN mode -New standard of energy consumption of machine tools Energy savings with 4 technologies Monitoring Idle reduction 1997 model Comparison of energy consumption 53.7 Power consumption Cutting Other factors Coolant Oil controller Cutting Flexed part Oil pressure NLX2500MC % saving (KWh) *Comparison with same workpiece and same quantity 0 Control 送り軸 主軸 k. Wh 0 Device Reduction of CO2 emission 2,650kg per year *Calculated from saved energy 28/31

30 70th anniversary event Set-up of internal day-care center for children Support work-life balance of employees and promote the active role of women April 2018 (Plan) Tokyo Nagoya 10 Iga 50 Nara 50 Total children Nagoya Tokyo Eligible employees Female employees with children under age of 6 approx.100 staffs Image (Iga campas) As of July 1, 2017 December Opened day-care center on holidays Iga Nara 29/31

31 Grand opening of Emerging Technologies Laboratory A6 In-company post graduate school, aiming to create a professional team of next generation technologies Artificial Intelligence IoT Net work Cloud computing Block chain Language (English) To continuously create customer value in the coming decades 30/31

32 スライド 31 A6 Press release の表現に合わせた Admin, 2017/08/06

33 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. 31/31