Maschinenfabrik Berthold Hermle (MBH3) Q3 2024 earnings summary

Executive summary

• Nine-month turnover fell 4.5% YoY to €363.8m, with Q3 turnover stabilized at the prior-year level despite a challenging environment.

• Stronger resilience than the German machine-tool industry was supported by automation, service activity and demand growth in North America.

Financial highlights

• Nine-month turnover: €363.8m vs. €380.9m YoY; profits declined more sharply than sales, mainly due to lower capacity utilisation.

• Cash and cash equivalents remained high; equity ratio was 72.4% at September-end vs. 72.5% at year-end 2023.

• Investment in property, plant, equipment and intangible assets rose to €32.9m from €19.9m in the prior-year period.

Outlook and guidance

• FY 2024 turnover expected to decline by at least a high single-digit percentage, or slightly more than 10%; profits forecast to fall disproportionately.

• Further demand slowdown anticipated in Q4; production-free days planned, with short-time working requested for some departments and expected across most production areas in Q1 2025.