Maschinenfabrik Berthold Hermle AGMaschinenfabrik Berthold Hermle AG

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Hermle in the financial press.

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Maschinenfabrik Berthold Hermle AG

Udo Hipp / Marketing Manager

Phone: 07426 95-6238

E-mail: udo.hipp@hermle.de

29.04.2016

Group turnover rose 2.8% in 2015 to 356.6 mill. Euro
Group earnings before interest & taxes (EBIT) rose 1.7% to 80.4 mill. Euro

Gosheim, Germany, 29 April 2016 – Maschinenfabrik Berthold Hermle AG successfully maintained its market position in the 2015 financial year, with the Swabian machine tool manufacturer generating new orders of 360.7 mill. Euro (previous year: 332.5) across the Group, a year-on-year increase of 8.5 %. Both the extremely powerful and precise Hermle machining centres and the new high-quality entry-level machines were in strong demand. Incoming orders from the domestic market increased by 11.2 % to 155.8 mill. Euro (previous year: 140.1). An additional 204.9 mill. Euro new orders (6.5 %) were received from abroad (previous year: 192.4), in particular in the second half of the year with a number of unexpected large-scale projects. According to the German Machine Tool Builders' Association (Verein Deutscher Werkzeugmaschinenfabriken, VDW), incoming orders in 2015 grew by 3% in the machine tool engineering industry as a whole. The Hermle Group's order backlog grew year on year as of 31 December 2015 by 3.4% to 123.2 mill. Euro (previous year: 119.1).

Group turnover rose 2.8 % in 2015 to 356.6 mill. Euro (previous year: 346.8). Hermle generated growth in all customer segments, both in its new machine business and in the service area. Overseas turnover grew 4.8 % to 208.7 mill. Euro (previous year: 199.1), while domestic turnover grew by 0.1 % to 147.9 mill. Euro (previous year: 147.7), bringing about an increase in the export rate from 57.4 % to 58.5 %.

Hermle was also able to generate mild improvements in its income situation, despite the profit at the start of the year being reduced by non-recurring exchange rate effects as a result of the sudden increase in the value of the Swiss franc. Group earnings before interest & taxes (EBIT) rose 1.7 % to 80.4 mill. Euro (previous year: 79.0). When including the mildly positive financial income, income from ordinary operations rose 1.6 % to 80.6 mill. Euro (previous year: 79.4), giving rise to a gross profit margin of 22.6 % (previous year: 22.8). Once taxes are deducted, a net profit for the year of 59.2 mill. Euro is reported (previous year: 58.8).

Thanks to the good business performance, the Company's already robust consolidated financial and asset position was improved in 2015, with the operating cash flow increasing slightly to 65.4 mill. Euro (previous year 64.4) and the equity ratio rising year on year to 72.8% (previous year: 71.7).

In the reporting year, Hermle invested 7.1 mill. Euro (previous year: 15.4) in property, plant & equipment and in intangible assets. The focus was on the expansion of machined production using several in-house machining centres. The value from the previous year was high by comparison due to the construction of a new building for the assembly of large-scale machinery and automated equipment at the Gosheim site.

Based on what was once again overall a highly satisfactory performance in 2015, the Board of Directors and Supervisory Board will propose to the Annual General Meeting on 6 July 2016 to distribute a dividend of 0.80 Euro per ordinary share and 0.85 Euro per preferred share with an additional bonus of 10.00 Euro per share, as in the previous year. Accordingly, 10.85 Euro will be distributed for each preferred share.

The employees of Hermle AG will also once again receive a financial share in the Company's success and will receive both a bonus and a one-time payment following the dividend payment. As of the end of the previous financial year, there were 977 employees throughout the Group, a year-on-year increase of 13 persons. There were new appointments in the Service segment in particular. Train-ees who had successfully graduated were also accepted as full employees and the now-open apprenticeship positions were re-filled.

Hermle AG continued its intensive development activities unabated in 2015. The focus was on machining centres and automation solutions strategically fine-tuned to the different needs of customers and market segments. The company's developments include the C 250, a new, smaller version of the high-quality but standardised entrylevel model for 5-axis/5-side machining and the C 62, the second generation of the high-performance Hermle large-scale machining centres. Additional systems for fully automated, digitalised production were also added to the range of Industry 4.0 modules, while new material combinations that enabled extreme levels of heat to be diverted away were developed to market maturity. These materials are produced using Hermle's additive production process (metal/powder application process).

With these innovations and others, which were presented at the Open House exhibition in Gosheim in April 2016, the Company is well-positioned for the future. For 2016 as a whole, Hermle expects turnover to growth in the mid single-digits percentage range based on the good order backlog. Accordingly, the chances are good of the EBIT more or less maintaining the previous year's level, despite anticipated growth in competition and imminent wage increases.

With the aim of securing future growth, further extensive investments are also planned. In addition to further expanding and modernising an existing production building at the Gosheim site, a piece of land measuring around 4 hectares will be procured this year with good autobahn links to the neighbouring district of Rottweil. The new site is located in an exclusively industrial area, which means that unlike the previous sites in Gosheim, it is not subject to any construction-related restrictions. Over the next two years, investments totalling around 8 mill. Euro are planned there for additional capacities.


The full annual financial statements can be accessed at www.hermle.de/finanzberichte.

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