Hermle’s incoming orders volume grows by 58%

Hermle’s incoming orders volume grows by 58% in the first six months of 2022
Turnover rose 51% to 210 million euros

Operating result increases to 30.3 million euros (previous year 18.4 million euros)
Forecast for the full year unchanged due to high risks, chances of better development increased

Gosheim, 31 August 2022 – Maschinenfabrik Berthold Hermle AG saw continued strong demand across the board in the first half of 2022: The incoming orders of the Swabian automation and machine tool specialist increased across the Group by 58.0% to €285.0 million (previous year: €180.4 million) compared to the same period of the previous year which was still greatly affected by the Corona pandemic. In Germany, new orders increased by 54.2 % to €100.7 million (previous year: €65.3 million) and abroad by 60.1 % to €184.3 million (previous year: €115.1 million). Business developed particularly well with automation solutions for Industry 4.0 production which can be individually adapted to customer requirements and which Hermle offers for the entire range of machines from a single source. The backlog of orders increased to €182.8 million across the Group as of 30 June 2022. This corresponded to an increase of 69.4% compared to the turn of the year (31.12.2021: €107.9 million) and of 112.8% compared to the previous year's reporting date (previous year: €85.9 million). 

The turnover of the Hermle Group increased by 50.9 % to €210.2 million in the first six months of 2022 (previous year: €139.3 million). Of this amount, €81.9 million was generated in Germany (+37.6 %, previous year €59.5 million) and €128.3 million abroad (+60.8 %, previous year €79.8 million). The export ratio was 61.0 % (previous year 57.3 %). The increasing disruptions in the supply chain were largely compensated for by internal measures which were implemented very well and quickly by the workforce. On 30 June 2022, Hermle employed 1,322 people across the Group, 22 more than on the previous year's reporting date. 

As the additional expenditure for the special measures as well as increased material and energy costs were more than offset by positive effects from the considerably improved capacity utilisation, the operating result of the Hermle Group increased disproportionately to the turnover from €18.4 million to €30.3 million in the reporting period. The result from ordinary business activities increased to €30.1 million (previous year €18.3 million) so that the gross margin on turnover climbed from 13.1 % to 14.3 %. After taxes, a net profit of €20.6 million was reported in the first half of 2022, compared to €13.3 million in the previous year.

The financial and asset position of the Hermle Group was further consolidated in the first six months of 2022. The operating cash flow increased by 63.7 % to €31.1 million (previous year: €19.0 million). Liquid assets increased to €131.4 million compared to the same reporting date (31.12.2021: €109.4 million). On 30 June 2022, the company reported an equity ratio of 72.5% compared to 73.5% at the end of 2021.

Hermle invested €3.7 million in property, plant and equipment and intangible assets across the Group in the first half of 2022 (previous year: €2.9 million). Investments focused on the areas of production, information technology, quality assurance, service and generative manufacturing. In addition, the initial measures of the capacity expansion and modernisation programme were launched at the beginning of 2022 for the two sites in Gosheim and Zimmern ob Rottweil; investments of around €60 million are planned for this programme over the next five years. The company's investment programme is a response to the fundamentally high demand for high-quality automation solutions for 24/7 production.

In view of the good business performance to date, Hermle would, in normal times, expect an increase in turnover of 20 % and more for the whole of 2022. For the coming months, however, the company sees unusually high risks from external factors; these risks are likely to weaken the previously dynamic development. These include, above all, increasing supply bottlenecks on the supplier side, rising material and energy costs as well as the first signs of a declining willingness to invest on the part of the industry. For this reason, Hermle continues to adhere to the previous forecast, not taking into account a possible gas supply quota. Accordingly, an increase in turnover of at least around 10 % and a disproportionately low earnings development are expected for the whole of 2022. The operating result is expected to reach at least the previous year's level, depending on the Group turnover ultimately achieved and the further development of material and energy costs.

The dynamic business development in the first half of the year and at the beginning of the third quarter have increased the chances of a better performance. If the global supply bottlenecks ease more quickly than expected, Hermle would be well prepared for this thanks to its solid backlog of orders.

Press contact: Redaktionsbüro tik GmbH, Gabriele Rechinger,
T 0911 988 170 72, E-Mail: info@tik-online.de 

Image material: Maschinenfabrik Berthold Hermle AG, Udo Hipp,
T 07426 95 6238, E-Mail: udo.hipp@hermle.de 

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