Gildemeister AG Has Reported Both Orders and Sales up Year on Year

German machine tool maker Gildemeister AG, parent of sales and service organisation DMG, has reported both orders and sales up year on year for the first nine months of the year, by 49% and 39% respectively. As of 30 September 2011, order intake reached 512.3 million, with sales revenues at, 194.3 million. Profitability also grew, in line with plans, with the EBITDA figure (earnings before interest, tax, depreciation and amortisation) reaching €9.6 million versus the previous year's €0.2 million, with EBIT rising to €6.5 million versus €.1 million last year. EBT amounted to €6.6 million versus -€8.3 million. Therefore, as of 30 September 2011, the group reported net income after taxes of €8.1 million, compared to a los of -€3.6 million last year. The EMO 2011 (19-24 September) was particularly successful for Gildemeister, with the company taking its highest ever order intake at a trade fair - sales of 847 machines valued at €07.6 million were booked. This boosted its third quarter business significantly, compared to last year - order intake grew by 76%, to €87.0 million, compared to last year's same quarter's €20.4 million. For the 2011 as a whole, the company is raising its order intake forecast to more than €1.9 billion, while, on the sales side, the company says it is increasing this to €.6 billion. The order backlog for the group, as of 30 September 2011, amounted to €90.1 million. Note: The economic associations VDW and Oxford Economics have forecast (October 2011) that growth in worldwide machine tool consumption for 2011 will be 16.9%, reaching €2.6 billion (the forecast in April 2011 was 19.6%). The associations are also anticipating growth in the global machine tool market for 2012, with consumption expected to rise by 15.5%, to €0.8 billion. Source: machinery.co.uk