DMG MORI AG

Quarterly Report • Jul 31, 2024

DEAR SHAREHOLDERS,

DMG MORI AG performed well in the first half of 2024 in a persistently difficult market environment, characterized in particular by ongoing geopolitical uncertainties. The second half of the year will also remain challenging for us. A recovery in the subdued demand for capital goods and the machine tool market is not in sight for the time being.

DMG MORI AG is meeting these challenges with a consistent strategic focus on MX - Machining Transformation, based on Process Integration, Automation, Digital Transformation (DX) and Green Transformation (GX). We are also making targeted investments in our young talent and in the modernization and expansion of our production capacities.

01 // KEY FIGURES

in € million	30 June 2024	30 June 2023**		Changes 2024 against 2023
Order Intake	1,228.6	1,441.7	$-233.1$	$-16 \%$
Domestic	385.8	455.9	$-70.1$	$-15 \%$
International	842.8	1,005.8	$-163.0$	$-16 \%$
\% International	69	69
Sales Revenues	1,104.2	1,188.6	$-84.4$	$-7 \%$
Domestic	461.0	426.6	34.4	8\%
International	643.2	762.0	$-118.8$	$-16 \%$
\% International	58	64
Order Backlog*	1,588.8	1,780.0	$-191.2$	$-11 \%$
Domestic	450.1	597.0	$-146.9$	$-25 \%$
International	1,138.7	1,183.0	$-44.3$	$-4 \%$
\% International	72	66
EBITDA	142.3	107.5	34.8	32\%
EBIT	105.6	74.0	31.6	43\%
EBT	112.8	78.0	34.8	45\%
EAT from continuing operations	80.0	55.2	24.8	45\%
EAT from discontinued operations	$-91.9$	0.6	$-92.5$	$>-100 \%$
EAT	$-11.9$	55.8	$-67.7$	$>-100 \%$
Free cash flow	$-47.4$	34.9	$-82.3$	$>-100 \%$
Employees	30 June 2024	31 Dec. 2023		Changes 2024 against 2023
Employees*	7,427	7,515	$-88$	$-1 \%$
incl. trainees	218	294	$-76$	$-26 \%$
* reporting date 30 June ** Adjusted previous year's figures

The Interim Consolidated Financial Statements of DMG MORI AKTIENSESELLSCHAFT were prepared in accordance with the International Financial Reporting Standards (IFRS), as applicable in the European Union. The interim financial statements have not been audited; they refer exclusively to DMG MORI AKTIENSESELLSCHAFT and its subsidiaries (hereinafter referred to as the Group or DMG MORI AG). DMG MORI AG is part of the DMG MORI Group (hereinafter referred to as DMG MORI or Global One Company), whose group parent company is DMG MORI COMPANY LIMITED (hereinafter referred to as DMG MORI CO. LTD.).

Further explanations on the EAT can be found in the notes to the interim consolidated statements on page 24 et seqq.

TABLE OF CONTENTS

A GROUP INTERIM BUSINESS REPORT
05 Overall Conditions
05 Business Development
05 Order Intake
06 Sales Revenues
06 Order Backlog
06 Results of Operations,
Financial Position and Net Worth
09 Investments
09 Segment Report
10 Machine Tools
11 Industrial Services
12 Corporate Services
12 Employees
13 Research \& Development
15 Opportunities and Risk Report
16 Forecast
17 Group Structure

A NNUAL REPORT 2023

Click here to get to the PDF of the Annual Report 2023 dmgmori.com/gb-en-2023

A GROUP INIERIM
BUSINESS REPORT
05 Overall Conditions
05 Business Development
05 Order Intake
06 Sales Revenues
06 Order Backlog
06 Results of Operations, Financial Position and Net Worth
09 Investments
09 Segment Report
10 Machine Tools
11 Industrial Services
12 Corporate Services
12 Employees
13 Research \& Development
15 Opportunities and Risk Report
16 Forecast
17 Group Structure

GROUPINIERIM

BUSINESS REPORT

GROUP INTERIM BUSINESS REPORT

OVERALL CONDITIONS

Overall economic development remained subdued in the second quarter of 2024. Geopolitical uncertainties, in particular the ongoing war in Ukraine, restrictive monetary policy and the global increase in industrial and trade policy interventions weighed on the economy - especially in Europe. However, the US economy also lost momentum and there was little stimulus from China due to structural problems.

Demand for capital goods declined again in the first half of 2024 following a moderate trend in the previous year. Looking at the worldwide market for machine tools, this trend is expected to continue for the rest of the year. In the current April forecast by the German Machine Tool Builders' Association (VDW) and the British economic research institute Oxford Economics, Machine tool consumption is expected to fall by $-1.1 \%$ to $€ 80.8$ billion (previous year: $+1.6 \% ; € 81.7$ billion).

A decline of $-6.0 \%$ is currently forecast for the German machine tool market. In Europe, machine tool consumption is expected to fall by $-2.2 \%$ and in the USA by as much as $-7.5 \%$. A noticeable decline of $-10.6 \%$ is forecast for Japan. Machine tool consumption in Germany and Japan thus remains well below the pre-corona level. Growth forecasts for China are rather moderate at $+2.1 \%$.

In view of the difficult geopolitical situation, continued high commodity prices, increased inflation rates and high interest rates, it cannot be ruled out that these forecasts will be adjusted in the association's regular forecast in October.

BUSINESS DEVELOPMENT

ORDER INTAKE

The worldwide market for machine tools continued to be significantly characterized by the ongoing geopolitical uncertainties. The ongoing war in Ukraine, restrictive monetary policy and the global increase in industrial and trade policy interventions weighed on the economy - particularly in Europe - and led to a decline in demand for capital goods.

In this still challenging market environment, DMG MORI AG achieved an order intake of $€ 570.4$ million in the second quarter ( $-15 \%$; previous year: $€ 674.3$ million). In the first half of the year, orders amounted to $€ 1,228.6$ million ( $-16 \%$; previous year: $€ 1,461.7$ million).

Orders in the "Machine Tools" segment totaled $€ 654.7$ million ( $-22 \%$; previous year: $€ 836.3$ million). The "Industrial Services" segment recorded order intake of $€ 573.8$ million ( $-8 \%$; previous year: $€ 625.3$ million). This includes order intake from our original service business totalling of $€ 397.6$ million ( $-2 \%$; previous year: $€ 404.7$ million) and orders for machines from DMG MORI COMPANY LIMITED amounting to $€ 176.2$ million ( $-20 \%$; previous year: $€ 220.6$ million).

Domestic orders totaled $€ 385.8$ million (-15\%; previous year: $€ 455.9$ million). International orders amounted to $€ 842.8$ million (-16\%; previous year: $€ 1,005.8$ million). As in the previous year, the share of international orders was $69 \%$.

SALES REVENUES

Sales revenues in the second quarter totaled $€ 552.7$ million (-8\%; previous year: $€ 602.4$ million). In the first half of the year, sales revenues amounted to $€ 1,104.2$ million (-7\%; previous year: $€ 1,188.6$ million). Sales revenues in the "Machine Tools" segment were $€ 600.9$ million (previous year: $€ 633.2$ million). Sales revenues in the "Industrial Services" segment totaled $€ 503.2$ million (previous year: $€ 555.3$ million). Of this, $€ 370.2$ million was attributable to our original service business ( $+5 \%$; previous year: $€ 352.9$ million) and $€ 133.0$ million to trade sales with machines from DMG MORI COMPANY LIMITED (previous year: $€ 202.2$ million).

Domestic sales revenues increased by $+8 \%$ to $€ 461.0$ million (previous year: $€ 426.6$ million). International sales revenues fell by $-16 \%$ to $€ 643.2$ million (previous year: $€ 762.0$ million). The export ratio was $58 \%$ (previous year: $64 \%$ ).

ORDER BACKL06

The order backlog amounted to $€ 1,588.8$ million as at 30 June 2024 (31 December 2023: $€$ 1,535.5 million) - a calculated range of six months on average. The individual production companies have different capacity utilization rates. We continue to work on the ongoing optimization of supply chains as well as production and assembly processes, also in order to reduce delivery times for our customers. International orders accounted for $72 \%$ of the current order backlog (previous year: $66 \%$ ).

RESULTS OF OPERATIONS, FINANCIAL POSITION AND NET WORTH

EBITDA amounted to $€ 142.3$ million in the first half of 2024 (previous year: $€ 107.5$ million). EBIT increased to $€ 105.6$ million (previous year: $€ 74.0$ million). The EBIT margin improved to $9.6 \%$ (previous year: $6.2 \%$ ). EBT increased to $€ 112.8$ million (previous year: $€ 78.0$ million). Income taxes amounted to $€ 32.8$ million (previous year: $€ 22.8$ million). This resulted in earnings after taxes from continuing operations of $€ 80.0$ million (previous year: $€ 55.2$ million).

By a decree published on 19 February 2024, the Russian Federation has brought our shareholding in Ulyanovsk Machine Tools ooo, Ulyanovsk (Russia), under state control. The DMG MORI AG Group has thus lost the ability to control and influence the company in Ulyanovsk. The loss of control over Ulyanovsk Machine Tools ooo led to the derecognition of this company from the consolidated financial statements of DMG MORI AG. The disposal of our production company in Russia and the Executive Board's subsequent decision to discontinue our "ECOLINE" product line resulted in earnings after taxes from discontinued operations of $€-91.9$ million (previous year: $€ 0.6$ million). The DMG MORI AG group's earnings after taxes amounted to $€-11.9$ million (previous year: $€ 55.8$ million). Further explanations can be found in the notes to the Consolidated Financial Statements on

DMG MORI AG group's results of operations developed very positively in the second quarter: EBITDA reached $€ 76.3$ million in the second quarter (previous year: $€ 45.5$ million). EBIT amounted to $€ 58.0$ million (previous year: $€ 29.8$ million). The EBIT margin was $10.5 \%$ (previous year: $4.9 \%$ ). EBT totaled $€ 63.0$ million (previous year: $€ 32.8$ million).

Sales revenues totaled $€ 552.7$ million in the second quarter (previous year: $€ 602.4$ million). Sales revenues amounted to $€ 1,104.2$ million in the first half of the year (previous year: $€ 1,188.6$ million).

The change in inventories of finished goods and work in progress amounted to $€ 1.0$ million (previous year: $€ 75.9$ million). Total work done amounted to $€ 1,107.6$ million (previous year: $€ 1,270.2$ million). The cost of materials fell to $€ 525.4$ million (previous year: $€ 691.4$ million) with a reduction in total work done. The materials ratio improved to $47.5 \%$ (previous year: $54.5 \%$ ), in particular due to developments in changes in inventories and improved gross profit margins. Personnel expenses amounted to $€ 314.8$ million (previous year: $€ 320.4$ million). The personnel ratio increased to $28.4 \%$ (previous year: $25.2 \%$ ) despite lower total work done.

The balance of other operating expenses and income decreased to $€-125.1$ million (previous year: $€-150.9$ million) due to the lower total work done. The decline was mainly due to lower sales commissions, freight and packaging expenses as well as advertising and trade fair expenses. Depreciation and amortization increased slightly to $€ 36.7$ million (previous year: $€ 33.5$ million). The financial result improved significantly to $€ 7.2$ million (previous year: $€ 4.0$ million). EBT increased to $€ 112.8$ million (previous year: $€ 78.0$ million).

A. 01 // NET WORTH

in $€$ million	30 June 2024	31 Dec. 2023	30 June 2023
Long-term assets	902.1	926.7	936.5
Short-term assets	$1,600.9$	$1,841.0$	$1,823.3$
Equity	$1,414.1$	$1,382.2$	$1,444.3$
Outside capital	$1,088.9$	$1,385.5$	$1,315.5$
Balance sheet total	$\mathbf{2 , 5 0 3 . 0}$	$\mathbf{2 , 7 6 7 . 7}$	$\mathbf{2 , 7 5 9 . 8}$

The balance sheet total decreased by $€ 264.7$ million to $€ 2,503.0$ million (31 December 2023: $€ 2,767.7$ million). The equity ratio improved to $56.5 \%$ (31 December 2023: $49.9 \%$ ).

Under assets, long-term assets decreased by $€ 24.6$ million to $€ 902.1$ million. Tangible and intangible assets amounted to $€ 722.8$ million (31 December 2023: $€ 757.1$ million); the decline relates in particular to property, plant and equipment ( $€ 20.7$ million) in connection with the disposal of our production company in Russia and the Executive Board's subsequent decision to discontinue our "ECOLINE" product line. Financial assets amounted to $€ 132.8$ million (31 December 2023: $€ 124.8$ million).

Short-term assets decreased by $€ 240.1$ million to $€ 1,600.9$ million (31 December 2023: $€ 1,841.0$ million). Inventories decreased slightly by $€ 2.0$ million to $€ 780.0$ million. Raw materials and supplies increased by $€ 4.1$ million to $€ 338.6$ million and work in progress by $€ 13.9$ million to $€ 177.5$ million. Finished goods and products decreased by $€ 20.0$ million to $€ 263.9$ million. Trade account

receivables increased slightly by $€ 7.5$ million to $€ 127.9$ million. Receivables from other related parties decreased by $€ 179.8$ million to $€ 444.7$ million (31 December 2023: $€ 624.5$ million). This decline mainly resulted from a repayment ( $€ 150.0$ million) by DMG MORI Europe Holding GmbH for its loan. Cash and cash equivalents amounted to $€ 95.9$ million (31 December 2023: $€ 158.7$ million).

Under equity and liabilities, equity increased by $€ 31.9$ million to $€ 1,414.1$ million. The equity ratio improved to $56.5 \%$ (31 December 2023: $49.9 \%$ ). Liabilities decreased by $€ 296.6$ million to $€ 1,088.9$ million (31 December 2023: $€ 1,385.5$ million).

Advance payments received decreased by $€ 49.9$ million to $€ 305.5$ million due to weaker order intake. Trade accounts payable amounted to $€ 187.1$ million (previous year: $€ 185.7$ million). Liabilities to other related parties decreased by $€ 222.3$ million to $€ 45.8$ million. The decline is mainly due to the payment of the profit transfer for 2023 in the amount of $€ 147.5$ million to DMG MORI Europe Holding GmbH.

A. 02 // CASH FLOW

in $€$ million	$\begin{gathered} 2024 \ 1^{1 / 2} \text { half year } \end{gathered}$	$\begin{gathered} 2023 \ 1^{1 / 2} \text { half year } \end{gathered}$
Cash flow from operating activities	$-34.0$	81.1
Cash flow from investment activity	133.9	49.3
Cash flow from financing activity	$-164.9$	$-135.4$
Changes in cash and cash equivalents	$-62.8$	$-13.2$
Liquid funds at the start of the reporting period	158.7	177.4
Liquid funds at the end of the reporting period	95.9	164.2

Overall, the financial position developed in line with our expectations: the cash flow from operating activities amounted to $€-34.0$ million (previous year: $€ 81.1$ million). Based on earnings after taxes of $€-11.9$ million (previous year: $€ 55.8$ million), depreciation and amortization in the amount of $€ 36.7$ million contributed to the cash flow (previous year: $€ 34.5$ million). In addition, the decline in inventories by $€ 0.9$ million (previous year increase: $€ 104.4$ million) led to an increase in cash flow. The decline in provisions by $€ 50.3$ million, trade accounts payable by $€ 20.6$ million (previous year increase: $€ 28.6$ million) and the decline in advance payments received by $€ 47.9$ million (previous year increase: $€ 6.2$ million) as well as the decrease in trade accounts receivables by $€ 6.1$ million (previous year increase: $€ 8.7$ million) led to a reduction in cash flow.

The cash flow from investing activities was positive at $€ 133.9$ million (previous year: $€ 49.3$ million). Cash outflows for investments in property, plant and equipment and intangible assets amounted to $€-16.1$ million (previous year: $€-46.3$ million); cash inflows from disposals amounted to $€ 2.7$ million (previous year: $€ 0.1$ million). The repayment of DMG MORI Europe Holding GmbH for its loan resulted in cash inflows of $€ 150.0$ million (previous year: $€ 100.0$ million).

The cash flow from financing activities amounted to $€-164.9$ million (previous year: $€-135.4$ million). The cash flow mainly results from the payment of the profit transfer 2023 to DMG MORI Europe Holding GmbH in the amount of $€ 147.5$ million (previous year: $€ 146.5$ million) and payments for lease liabilities in the amount of $€ 7.8$ million (previous year: $€ 7.9$ million).

Free cash flow amounted to $€-52.4$ million in the second quarter (previous year: $€ 1.7$ million). Free cash flow amounted to $€-47.4$ million in the first half of the year (previous year: $€ 34.9$ million). The discontinued operations in Russia has no material impact on the financial position.

INVESTMENTS

Investments in property, plant and equipment and intangible assets totaled $€ 22.1$ million in the first half of the year as planned (previous year: $€ 54.7$ million). The additions from rights of use in accordance with IFRS 16 "Leases" included in this figure were $€ 5.9$ million (previous year: $€ 8.5$ million). Investments in financial assets amounted to $€ 0.2$ million (previous year: $€ 3.2$ million). Investments therefore totaled $€ 22.3$ million (previous year: $€ 57.9$ million).

We have started construction of the new training centre at our production site in Pfronten. By 2026, 150 state-of-the-art training places will be created here. The new premises will enable us to place an even greater focus on future technologies, automation and digitization in our training.

We have begun targeted modernization and expansion measures in Bielefeld and Stipshausen. These include infrastructural modernization and capacity expansions in the areas of logistics and assembly. Completion of the measures at both locations is planned for 2025.

Construction of the new assembly hall at our site in Tortona (Italy) has been completed. In the third quarter of 2024, we plan to finish the interior work, including the implementation of a state-of-theart assembly concept based on driverless AGV (automated guided vehicle) transport systems for efficient and flexible assembly.

We are also continuing to invest in a self-sufficient, sustainable power supply for our production plants with additional photovoltaic systems. The expansion at our production site in Pleszew (Poland) will begin in the current financial year.

We are also continuing to invest in our ERP project "GLOBE - Global One Business Excellence" to standardize and optimize systems and processes.

SEGMENT REPORT

Our business activities comprise the segments "Machine Tools" and "Industrial Services". "Corporate Services" mainly comprises DMG MORI AKTIENGESELLSCHAFT with its group-wide holding functions.

The selected machines of DMG MORI COMPANY LIMITED which we produce under license are included in "Machine Tools". The trade and services for these machines are recognized under "Industrial Services".

A. 03 // SEGMENT KEY FIGURES

in € million	30 June 2024	30 June 2023*		Changes 2024 against 2023
Order intake	1,228.6	1,461.7	$-233.1$	$-16 \%$
Machine Tools	654.7	836.3	$-181.6$	$-22 \%$
Industrial Services	573.8	625.3	$-51.5$	$-8 \%$
Corporate Services	0.1	0.1	0.0	$0 \%$
Sales revenues	1,104.2	1,188.6	$-84.4$	$-7 \%$
Machine Tools	600.9	633.2	$-32.3$	$-5 \%$
Industrial Services	503.2	555.3	$-52.1$	$-9 \%$
Corporate Services	0.1	0.1	0.0	$0 \%$
EBIT	105.6	74.0	31.6	$43 \%$
Machine Tools	5.7	22.6	$-16.9$	$-75 \%$
Industrial Services	118.1	83.0	35.1	$42 \%$
Corporate Services	$-18.1$	$-31.7$	13.6	$43 \%$

• Adjusted previous year's figures

MACHINE TOOLS

The "Machine Tools" segment includes the group's new machine business with the divisions Turning and Milling, Advanced Technologies (Ultrasonic / Lasertec) and Additive Manufacturing as well as Digital Solutions.

The worldwide market for machine tools continued to be significantly impacted by continued geopolitical uncertainties. The ongoing war in Ukraine, the restrictive monetary policy and the global increase in industrial and trade policy interventions weighed on the economy - particularly in Europe - and led to declining demand for capital goods. In this still challenging market environment, DMG MORI AG achieved order intake of $€ 299.1$ million in the "Machine Tools" segment in the second quarter ( $-22 \%$; previous year: $€ 381.6$ million). In the first six months, orders amounted to $€ 654.7$ million ( $-22 \%$; previous year: $€ 836.3$ million). Domestic order intake was $€ 182.2$ million (previous year: $€ 254.8$ million). International orders totaled $€ 472.5$ million (previous year: $€ 581.5$ million). $53 \%$ of all orders received were for "Machine tools" (previous year: 57\%). On 30 June 2024, the order backlog amounted to $€ 823.1$ million (31 December 2023: $€ 832.6$ million).

Sales revenues in the second quarter reached $€ 309.6$ million ( $-3 \% ; € 319.5$ million). In the first half of the year, sales revenues amounted to $€ 600.9$ million ( $-5 \%$; previous year: $€ 633.2$ million). The "Machine Tools" segment accounted for $54 \%$ of sales revenues (previous year: 53\%). EBIT amounted to $€ 5.7$ million (previous year: $€ 22.6$ million). The EBIT from discontinued operations of $€-91.9$ million (previous year: $€ 0.6$ million) is attributable to the "Machine Tools" segment.

As at 30 June 2024, the number of employees in the "Machine Tools" segment was 4,475 (31 December 2023: 4,616).

A.04 // KEY FIGURES FOR THE "MACHINE TOOLS" SEGMENT

in € million	30 June 2024	30 June 2023**		Changes 2024 against 2023
Order intake	654.7	836.3	$-181.6$	$-22 \%$
Domestic	182.2	254.8	$-72.6$	$-28 \%$
International	472.5	581.5	$-109.0$	$-19 \%$
\% International	72	70
Sales revenues	600.9	633.2	$-32.3$	$-5 \%$
Domestic	282.7	249.6	33.1	$13 \%$
International	318.2	383.6	$-65.4$	$-17 \%$
\% International	53	61
Order backlog*	823.1	1,021.4	$-198.3$	$-19 \%$
Domestic	47.7	228.9	$-181.2$	$-79 \%$
International	775.4	792.5	$-17.1$	$-2 \%$
\% International	94	78
EBIT	5.7	22.6	$-16.9$	$-75 \%$
	30 June 2024	31 Dec. 2023		Changes 2024 against 2023
Employees	4,475	4,616	$-141$	$-3 \%$
incl. trainees	216	244	$-28$	$-11 \%$
* reporting date 30 June ** Adjusted previous year's figures

INDUSTRIAL SERVICES

The "Industrial Services" segment mainly comprises the business activities of the Services division. Here we bundle the marketing activities and LifeCycle Services for both our machines as well as those of DMG MORI COMPANY LIMITED. DMG MORI LifeCycle Services allow our customers to maximize the productivity of their machine tools over the entire life cycle - from commissioning to trade-in as a used machine. The wide range of service contracts, repair and training services enables our customers to achieve high cost efficiency for their machine tools. Our online customer portal my DMG MORI digitizes service processes.

In the "Industrial Services" segment, order intake in the second quarter reached $€ 271.3$ million ( $-7 \%$; previous year: $€ 292.7$ million). In the first half of the year, order intake amounted to $€ 573.8$ million ( $-8 \%$; previous year: $€ 625.3$ million). This includes order intake from our original service business of $€ 397.6$ million ( $-2 \%$; previous year: $€ 404.7$ million) as well as orders for machines from DMG MORI COMPANY LIMITED of $€ 176.2$ million ( $-20 \%$; previous year: $€ 220.6$ million). "Industrial Services" accounted for $47 \%$ of orders in the group (previous year: $43 \%$ ). The order backlog at the end of the first half year totaled $€ 765.7$ million ( 31 Dec. 2023: $€ 702.9$ million).

Sales revenues amounted to $€ 243.1$ million in the second quarter ( $-14 \%$; previous year: $€ 282.9$ million). In the first half of the year, sales revenues fell by $-9 \%$ to $€ 503.2$ million in this still challenging market environment (previous year: $€ 555.3$ million). Of this, $€ 370.2$ million were attributable to our original service business ( $+5 \%$; previous year: $€ 352.9$ million) as well as $€ 133.0$ million to trade sales revenues with machines from DMG MORI COMPANY LIMITED ( $-34 \%$; previous year: $€$ 202.2 million). "Industrial Services" accounted for $46 \%$ of group sales revenues (previous year: $47 \%$ ). EBIT was $€ 118.1$ million (previous year: $€ 83.0$ million).

The number of employees in the "Industrial Services" segment was 2,847 as of 30 June 2024 (31 Dec. 2023: 2,789).

A. 05 // KEY FIGURES FOR THE "INDUSTRIAL SERVICES" SEGMENT

in € million	30 June 2024	30 June 2023		Changes 2024 against 2023
Order intake	573.8	625.3	$-51.5$	$-8 \%$
Domestic	203.5	201.0	2.5	$1 \%$
International	370.3	424.3	$-54.0$	$-13 \%$
\% International	65	68
Sales revenues	503.2	555.3	$-52.1$	$-9 \%$
Domestic	178.2	176.9	1.3	$1 \%$
International	325.0	378.4	$-53.4$	$-14 \%$
\% International	65	68
Order backlag*	765.7	758.6	7.1	$1 \%$
Domestic	402.4	368.1	34.3	$9 \%$
International	363.3	390.5	$-27.2$	$-7 \%$
\% International	47	51
EBIT	118.1	83.0	35.1	$42 \%$
	30 June 2024	31 Dec. 2023		Changes 2024 against 2023
Employees	2,847	2,789	58	$2 \%$
incl. trainees	2	50	$-48$	$-96 \%$

• reporting data: 30 June

CORPORATE SERVICES

The "Corporate Services" segment mainly comprises DMG MORI AKTIENGESELLSCHAFT with its group-wide holding functions. EBIT amounted to $€-18.1$ million (previous year: $€-31.7$ million).

A. 06 // KEY FIGURES FOR THE "CORPORATE SERVICES" SEGMENT

in $€$ million	30 June 2024	30 June 2023	Changes 2024 against 2023
Order intake	0.1	0.1	0.0
Sales revenues	0.1	0.1	0.0
EBIT	$-18.1$	$-31.7$	13.6
	30 June 2024	31 Dec. 2023	Changes 2024 against 2023
Employees	105	110	$-5$

EMPLOYEES

Our committed, highly qualified employees are the backbone of our success. As at 30 June 2024, 7,427 employees, including 218 trainees, were employed in the DMG MORI AG Group (31 December 2023: 7,515). Personnel expenses amounted to $€ 314.8$ million (previous year: $€ 320.4$ million). The personnel ratio was $28.4 \%$ (previous year: $25.2 \%$ ). We make targeted investments in training and further education, promote open, trusting dialogue and want to grow even closer together worldwide as a "Global One Company".

RESEARCH AND DEVELOPMENT

By interlinking the four pillars of our "Machining Transformation" (MX) strategy - Process Integration, Automation, Digital Transformation (DX) and Green Transformation (GX) - as closely as possible, we offer our customers perfectly fitted solutions for modern, sustainable and efficient production. We are consistently developing these further: expenditure on research and development totaled $€ 43.9$ million in the first half of 2024 (previous year: $€ 40.1$ million). 690 employees worked on the development of our new products. This corresponds to $16 \%$ of the workforce at the plants.

In the financial year 2024, together with our parent company DMG MORI COMPANY LIMITED, we will present 27 innovations - including 13 world premieres, 2 automation solutions, 4 digital innovations, a new technology cycle and 4 DMG MORI Components as well as 3 innovations for even greater sustainability.

DMG MORI showcased its latest developments and innovations at the traditional Open House in Pfronten at the beginning of the year. A special highlight in machine-related digitization was the presentation of the new ERGOline X human-machine interface with CELOS X. CELOS X is a digital, data-based ecosystem for the integrated management, planning, control, operation, monitoring and interoperation of machines, automation solutions and processes in the industrial manufacturing environment. We added 3 world premieres to our diversified product portfolio in the first half of the year:

DMF 400|11 - Based on our pioneering travelling column concept, the currently largest model in our newly developed DMF series impresses with 400 mm more X -travel and 150 mm more travel in the Z -axis compared to the previous model. The robust design results from the cast-iron machine bed, three linear guides in the X -axis and ground and cooled ball screws, among other things. This is what makes the travelling column machine perfect for machining complex large components - from structural parts and long beams to components for die and mold making. With travels of $4,000 \times 1,100 \times 1,050 \mathrm{~mm}$, the DMF 400111 offers many possibilities for machining. The optional, quick-to-integrate separating wall divides the machining area into two workspaces if required, enabling components to be set up during machining. The modular system is complemented by an FD rotary table for demanding milling and turning operations.

CTX 75012000 - The CTX 75012000 universal lathe with its large working area is designed in particular for the production of long components and shafts and expands the new CTX series. Thanks to the main and counter spindles as well as a Y-axis with now 170 mm travel for milling with driven tools, 6 -sided complete machining of demanding workpieces up to $2,040 \mathrm{~mm}$ in length is possible. In addition, the CTX 75012000 can be equipped with a wide range of options and is easy to automate, for example with the Robo2Go Max. In the top performance option, for example, a VDI 50 turret with direct-drive enables high-speed milling of even the most demanding components.

LASERTEC 30 SLM $3^{\text {rd }}$ Gen. - The third generation of the LASERTEC 30 SLM, which can be equipped with up to four lasers, has a thermo-symmetrically designed casting frame for maximum rigidity and precision, similar to the structure of classic machine tools. The process chamber is floating within the casting frame and can therefore expand freely if the temperature changes. Together with the active temperature compensation and other measures such as the intelligent design of the Z-axis, this ensures maximum component accuracy. The exchangeable building container with a $34 \%$ larger volume also ensures greater efficiency and sustainability. Covers stored in the work area close the build container during removal and maintain the inert gas atmosphere in the machine. The next building job can therefore be started without renewed inert gas flooding.

In our MX strategy, automation is an essential key to greater efficiency, productivity and even faster amortisation - and therefore to greater competitiveness and sustainability for our customers. We have added the PH Cell 500 to our innovative and comprehensive automation portfolio consisting of over 50 solutions for workpiece, pallet and tool handling.

This innovation extends the range of modular pallet handling systems with a compact model for transfer weights of up to 500 kg . The PH Cell 500 offers space for up to 32 pallets. The maximum workpiece dimensions are $500 \times 500 \times 750 \mathrm{~mm}$. Like the other models in the series, the PH Cell 500 is ergonomic and easy to operate thanks to sophisticated software. The new pallet automation enables highly flexible automated production of small batch sizes and individual parts. The modularity of the system enables highly customised configurations.

Our focus on holistic Machining Transformation (MX) will continue to characterise the rest of the year. At AMB in September, we will be presenting 6 world premieres - all of which can be automated and have a clear focus on process integration - as well as a large number of innovations for Digital Transformation (DX) and Green Transformation (GX). We are consistently aligning our entire portfolio with our claim to be the holistic solution provider for our customers in the manufacturing environment.

OPPORTUNITIES AND RISK REPORT

Annual Report 2023, pages 92 et seqq.

Our opportunity and risk management is described in detail in the "Annual Report 2023 on pages 92 et seqq. The ongoing war in Ukraine continues to have a significant impact on the risk situation. In February 2024, the loss of control over our production plant in Russia led to the disposal of the discontinued operation. We hope to receive cash outflows from the existing federal investment guarantee in the current financial year, but the application is currently still under review. The overall risk has decreased slightly. We continue to categorize the risks as manageable at all times.

We see strategic opportunities particularly in our focus on technical innovations, process integration and automation.

Strategic and operational risks arise from geopolitical uncertainties, in particular the ongoing war in Ukraine, the conflict in the Middle East and tensions between China and Europe, the USA and Taiwan. In addition, a renewed rise in interest rates could influence our customers' willingness to invest. We have recently seen a further slight easing of exogenous factors such as global supply bottlenecks, material shortages, high inflation and high raw material costs. However, this could worsen again at any time. Production, purchasing and logistics risks resulting from geopolitical uncertainties can lead to delivery delays and possible business interruptions. DMG MORI AG's holistic supply chain risk management system uses digital tools to identify risks in the supply chain at an early stage and enables suitable countermeasures to be initiated in good time. In addition to our proven global double sourcing strategy, we are reorganizing our supply chains and strengthening our resilience through further increasing regionalization. We are increasingly producing core components ourselves through our DMG MORI Components.

FORECAST

2024 remains challenging - the global economy is showing signs of recovery, but only at a moderate pace. Geopolitical uncertainties, in particular the ongoing war in Ukraine and international trade conflicts, continued high inflation rates and high interest rates continue to weigh on the global economy. According to the June forecast by the Kiel Institute for the World Economy (IfW), global production is expected to grow by $+3.2 \%$ in 2024 (March forecast: $+2.8 \%$ ).

The international market for machine tools is expected to recover only slightly in the second half of the year and will probably not be able to compensate for the very weak start to the year. In the current April forecast by the German Machine Tool Builders' Association (VDW) and the British economic research institute Oxford Economics, a decline in machine tool consumption of $-1.1 \%$ to $€ 80.8$ billion is expected for the year as a whole (previous year: $+1.6 \% ; € 81.7$ billion).

A decline of $-6.0 \%$ is currently forecast for the German machine tool market. Machine tool consumption is expected to fall by $-2.2 \%$ in Europe and by as much as $-7.5 \%$ in the USA. A noticeable decline of $-10.6 \%$ is forecast for Japan. Machine tool consumption in Germany and Japan thus remains notably below the pre-corona level. The growth forecasts for China are rather moderate at $+2.1 \%$.

In view of the difficult geopolitical situation, high commodity prices and continued high inflation, it cannot be ruled out that these forecasts will have to be adjusted in the association's regular forecast in October.

DMG MORI AG performed well in the first half of 2024 in what remains a difficult market environment, meaning that we generally again confirm our forecasts for the year as a whole. Order intake is expected to remain unchanged at around $€ 2.3$ billion. Sales revenues are still forecast to amount to around $€ 2.4$ billion. We continue to expect EBIT of around $€ 200$ million. Free cash flow is estimated to remain unchanged at around $€ 150$ million. The forecasts do not take into account the effects of discontinued operations and possible compensation from the investment guarantee, the amount of which cannot currently be estimated.

DMG MORI continues to focus on innovative, technological solutions that are optimally tailored to the needs of our customers. With our Machining Transformation (MX) strategy and its four pillars of Process Integration, Automation, Digital Transformation (DX) and Green Transformation (GX), we are systematically increasing the productivity, resource and energy efficiency of our machine tools. We also expect positive stimulus from AMB Stuttgart in September (10-14 September), which will be all about transformation.

A. 07 // GROUP STRUCTURE (as of: July 2024)

DMG MORI COMPANY LIMITED, Tokyo

Group parent company

DMG MORI AKTIENGESELLSCHAFT

CORPORATE SERVICES

DMG MORI AKTIENGESELLSCHAFT, Bielefeld

MACHINE TOOLS

GILDEMEISTER Beteiligungen GmbH, Bielefeld; Development and Production

TURNING	MILLING	ADVANCED TECHNOLOGIES	DIGITAL SOLUTIONS
DMG MORI Bielefeld GmbH (Bielefeld)	DMG MORI Pfronten GmbH (Pfronten)	DMG MORI Ultrasonic Lasertec GmbH (Pfronten, Idar-Oberstein)	DMG MORI Digital GmbH (Bielefeld)
DMG MORI Bergamo S.r.l. (Bergamo/Italy)	DMG MORI Seebach GmbH (Seebach)	DMG MORI Additive GmbH (Bielefeld)
	DMG MORI Manufacturing Solutions Co., Ltd. (Pinghu/China)
DMG MORI Poland Sp. z o. o. ${ }^{1)}$ (Pleszew/Poland)	DMG MORI Tortona S.r.l. (Tortona/Italy)
INDUSTRIAL SERVICES DMG MORI Sales and Service Holding GmbH, Bielefeld SALES AND SERVICES
DMG MORI $\mathrm{DACH}^{2)}$	DMG MORI EMEA ${ }^{3)}$	DMG MORI China	DMG MORI Services
MARKETS OF DMG MORI COMPANY LIMITED ${ }^{4)}$
DMG MORI Japan	DMG MORI Asia ${ }^{5)}$	DMG MORI USA	DMG MORI Americas

[^0]
[^0]: 1) until March 2024, HANDT Plausese Sp. z o. o.
2) Germany, Austria, Switzerland
3) Europe, Middle East, Africa
4) These markets are consolidated by DMG MORI COMPANY LIMITED.
5) incl. India

B INTERIM CONSOLIDATED FINANCIAL STATEMENTS

19 Consolidated Income Statement
20 Consolidated Statement of other Comprehensive Income
21 Consolidated Balance Sheet
23 Consolidated Cash Flow Statement
24 Development of Group Equity
24 Group Segment Report
25 Selected Explanatory Notes to the Interim Consolidated Financial Statements
32 Responsibility Statement

INTERIM

CONSOLIDATED FINANCIAL STATEMENTS

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED INCOME STATEMENT

FIRST HALF YEAR 2024 (01 JAN-30 JUNE)

in € million	2024		2023		Changes 2024 against 2023
Sales revenues	1,104.2	99.7\%	1,188.6	93.6\%	$-84.4$	7.1\%
Changes in finished goods and work in progress	1.0	$0.1 \%$	75.9	$6.0 \%$	$-74.9$	$98.7 \%$
Own work capitalized	2.4	$0.2 \%$	5.7	$0.4 \%$	$-3.3$	$57.9 \%$
Total work done	1,107.6	100.0\%	1,270.2	100.0\%	$-162.6$	12.8\%
Cost of materials	$-525.4$	$-47.5 \%$	$-691.4$	$-54.5 \%$	166.0	$24.0 \%$
Gross profit	582.2	52.5\%	578.8	45.5\%	3.4	0.6\%
Personnel costs	$-314.8$	$-28.4 \%$	$-320.4$	$-25.2 \%$	5.6	$1.7 \%$
Other income and expenses	$-125.1$	$-11.2 \%$	$-150.9$	$-11.8 \%$	25.8	$17.1 \%$
Depreciation, amortization and impairment losses	$-36.7$	$-3.4 \%$	$-33.5$	$-2.7 \%$	$-3.2$	$9.6 \%$
Operating result	105.6	9.5\%	74.0	5.8\%	31.6	42.7\%
Financial result	7.2	0.7\%	4.0	0.3\%	3.2	80.0\%
Earnings before taxes	112.8	10.2\%	78.0	6.1\%	34.8
Income taxes	$-32.8$	$-3.0 \%$	$-22.8$	$-1.8 \%$	$-10.0$
Earnings after taxes from continuing operations	80.0	7.2\%	55.2	4.3\%	24.8
Earnings after taxes from discontinued operations	$-91.9$	$-8.3 \%$	0.6	$0.0 \%$	$-92.5$
Annual profit	$-11.9$	$-1.1 \%$	55.8	4.3\%	$-67.7$
Of which attributed to the shareholders of DMG MORI AKTIENGESELLSCHAFT	$-15.2$	$-1.4 \%$	52.0	$4.0 \%$	$-67.2$
Of which attributed to non-controlling interests	3.3	$0.3 \%$	3.8	$0.3 \%$	$-0.5$

The previous year's figures have been adjusted. Further explanations can be found in the section "Discontinued operations" on * page 26

CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME

FIRST HALF YEAR 2024 (01 JAN-30 JUNE)

B. 02

In C million	2024	2023
Annual profit	$-11.9$	55.8
Other comprehensive income
Remeasurement of benefit-oriented pension plans	1.2	1.6
FVOCl - Equity instruments - net change of fair value	6.6	$-15.4$
Income taxes	$-0.5$	$-0.3$
Sum of items never reclassified to the income statement	7.3	$-14.1$
Differences from currency translation	41.2	$-9.2$
Reclassification of differences from currency translation from discontinued operations	2.8	$-14.7$
Changes in market value of hedging instruments	0.8	$-0.5$
Market value of hedging instruments - reclassification to profit or loss	$-0.4$	0.1
Net investments	$-11.3$	6.6
Income taxes	3.4	$-2.2$
Sum of items reclassified to the income statement	36.5	$-19.9$
Other comprehensive income for the period after taxes	43.8	$-34.0$
Total comprehensive income for the period	31.9	21.8
Of which attributed to the shareholders of DMG MORI ANTIENGESELLSCHAFT	28.5	19.5
Of which attributed to non-controlling interests	3.4	2.3

CONSOLIDATED BALANCE SHEET

B. 03

in € million	30 June 2024	31 Dec. 2023	30 June 2023
ASSETS
LONG-TERM ASSETS
Goodwill	136.4	136.4	136.4
Other intangible assets	109.7	110.8	98.5
Tangible assets	474.7	509.9	505.0
Equity accounted investments	45.7	44.4	44.9
Other equity investments	87.1	80.4	93.7
Trade receivables from third parties	2.4	0.8	1.5
Other long-term financial assets	10.8	10.6	17.7
Other long-term assets	1.3	1.8	5.9
Deferred tax assets	32.0	31.6	30.9
	902.1	926.7	936.5
SHORT-TERM ASSETS
Inventories	780.0	782.0	785.0
Trade receivables from third parties	125.5	119.6	148.1
Receivables from at equity accounted companies	8.2	7.6	7.7
Receivables from other related companies	444.7	624.5	548.4
Receivables from other equity investments	1.3	0.1	0.0
Receivables from down payment invoices	12.3	14.1	15.9
Other short-term financial assets	33.7	38.8	43.9
Other short-term assets	88.3	86.9	107.2
Income tax receivables	5.9	3.6	2.9
Cash and cash equivalents	95.9	158.7	164.2
Long-term assets held for sale	5.1	5.1	0.0
	1,600.9	1,841.0	1,823.3
Balance sheet total	2,503.0	2,767.7	2,759.8

B. 03

in € million	30 June 2024	31 Dec. 2023	30 June 2023
EQUITY AND LIABILITIES
Equity
Subscribed capital	204.9	204.9	204.9
Capital reserves	498.5	498.5	498.5
Retained earnings and other reserves	687.1	658.6	717.8
Total equity of shareholders of DMG MORI AKTIENGESELLSCHAFT	1,390.5	1,362.0	1,421.2
Non-controlling equity interests	23.6	20.2	23.1
Total equity	1,414.1	1,382.2	1,444.3
Long-term debts
Long-term financial debts	21.4	22.3	17.2
Long-term lease liabilities	27.5	32.0	34.2
Provisions for pensions	25.5	27.8	24.4
Other long-term provisions	33.6	36.5	35.2
Contract liabilities from performance obligations	3.0	3.1	5.7
Other long-term liabilities	7.7	8.1	5.9
Deferred tax liabilities	9.2	8.5	8.5
	127.9	138.3	131.1
Short-term debts
Short-term financial debts	6.8	6.7	6.2
Short-term lease liabilities	14.0	11.2	7.6
Other short-term provisions	221.2	267.8	277.5
Contract liabilities from payments received on account	305.5	355.4	431.4
Trade payables to third parties	187.1	185.7	229.3
Liabilities to at equity accounted companies	2.9	3.4	3.4
Liabilities to other related companies	45.8	268.1	70.5
Liabilities to other equity investments	43.0	0.0	1.2
Contract liabilities from performance obligations	37.9	38.0	42.4
Contract liabilities from down payment invoices	12.3	14.1	15.9
Other short-term financial liabilities	23.6	31.9	25.6
Other short-term liabilities	38.9	42.2	51.1
Tax liabilities	22.0	22.7	22.3
	961.0	1,247.2	1,184.4
Balance sheet total	2,503.0	2,767.7	2,759.8

CONSOLIDATED CASH FLOW STATEMENT

FIRST HALF YEAR 2024 (01 JAN-30 JUNE)

No e million	2024	2023
OPERATING ACTIVITIES
Annual profit	$-11.9$	55.8
Monetary loss from the application of IAS 29	$-1.7$	1.3
Depreciation, amortization and impairment losses	36.7	34.5
Change in deferred taxes	3.3	$-0.8$
Change in provisions	$-50.3$	$-4.5$
Other income and expenses not affecting payments	90.7	$-0.9$
Result from the disposal of fixed assets	$-0.6$	0.0
Dividends received	1.2	0.5
Changes in inventories, trade debtors and other assets	$-20.8$	$-61.4$
Changes in trade creditors and other liabilities	$-80.6$	56.6
CASH FLOW FROM OPERATING ACTIVITIES	$-34.0$	81.1
thereof from discontinued operations	$-0.1$	$-0.6$
INVESTMENT ACTIVITY
Amounts received from the disposal of tangible assets and intangible assets	2.7	0.1
Amounts paid out for investments in intangible and tangible assets	$-16.1$	$-46.3$
Cash flow from the disposal of subsidiaries	$-2.4$	0.0
Amounts paid out for investments in financial assets	$-0.3$	$-3.2$
Amounts received from disposal in financial assets	0.0	0.1
Repayments paid out for loans	150.0	98.6
CASH FLOW FROM INVESTMENT ACTIVITY	133.9	69.3
thereof from discontinued operations	$-2.4$	0.0
FINANCING ACTIVITY
Cash inflows from borrowings obtained	$-1.0$	19.0
Repayment of lease liabilities	$-7.8$	$-7.9$
Profit transfer to DMG MORI Europe Holding GmbH	$-147.5$	$-146.5$
Dividend paid to non-controlling interests in subsidiaries	$-8.6$	0.0
CASH FLOW FROM FINANCING ACTIVITY	$-164.9$	$-135.4$
thereof from discontinued operations	0.0	0.0
INFLATION ADJUSTMENT OF THE CASH FLOW FROM OPERATING ACTIVITY, FROM INVESTMENT ACTIVITY AND FROM FINANCING ACTIVITY (IAS 29)	$-0.4$	$-2.9$
Changes affecting payments	$-65.4$	$-7.9$
Effects of exchange rate changes on financial securities	0.5	$-6.9$
Effects of inflation on financial securities (IAS 29)	2.1	1.6
Cash and cash equivalents as of 1 January	158.7	177.4
Cash and cash equivalents as of 30 June	95.9	164.2

DEVELOPMENT OF GROUP EQUITY

B. 05

in € million	Subscribed capital	Capital reserve	Retained earnings and other reserves	Total equity of shareholders of DMS MORI AKTEN- GESELLSCHAFT	Non- controlling equity interests	Total equity
As at 01 January 2024	204.9	498.5	658.6	1,362.0	20.2	1,382.2
Total comprehensive income	0.0	0.0	28.5	28.5	3.4	31.9
Consolidation measures / Other changes	0.0	0.0	0.0	0.0	0.0	0.0
As at 30 June 2024	204.9	498.5	687.1	1,390.5	23.6	1,414.1
As at 01 January 2023	204.9	498.5	698.3	1,401.7	20.8	1,422.5
Total comprehensive income	0.0	0.0	19.5	19.5	2.3	21.8
Consolidation measures / Other changes	0.0	0.0	0.0	0.0	0.0	0.0
As at 30 June 2023	204.9	498.5	717.8	1,421.2	23.1	1,444.3

GROUP SEGMENT REPORT
part of the Selected Explanatory Notes

B. 06

in $€$ million	Machine Tools	Industrial Services	Corporate Services	Transition	Group
FIRST HALF YEAR 2024
Sales revenues	600.9	503.2	0.1	0.0	1,104.2
EBIT	5.7	118.1	$-18.1$	$-0.1$	105.6
Investments	14.7	7.3	0.3	0.0	22.3
Employees	4,475	2,847	105	0	7,427
in $€$ million	Machine Tools	Industrial Services	Corporate Services	Transition	Group
FIRST HALF YEAR 2023
Sales revenues	633.2	555.3	0.1	0.0	1,188.6
EBIT*	22.6	83.0	$-31.7$	0.1	74.0
Investments	48.6	8.9	0.4	0.0	57.9
Employees	4,500	2,709	140	0	7,349

• Adjusted previous year's figures

SELECTED EXPLANATORY NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

APPLICATION OF REGULATIONS

The consolidated financial statements of DMG MORI AKTIENGESELLSCHAFT as at 31 December 2023 have been prepared in accordance with the International Financial Reporting Standards (IFRS) and their interpretations as applicable at the reporting date and as adopted by the European Union. The interim consolidated financial statements as at 30 June 2024 have been prepared on the basis of IAS 34 on Interim Financial Reporting. The interim consolidated financial statements as at 30 June 2024 and the interim management report for the period from 1 January to 30 June 2024 have not been audited or subject to a review under Section 37w of the German Securities Trading Act (WpHG). All interim financial statements of the companies included in the interim consolidated financial statements have been prepared in accordance with the uniform accounting and valuation principles, which also formed the basis for the consolidated financial statements as of 31 December 2023. In view of the purpose of interim reporting as an information tool based on the consolidated financial statements and in accordance with IAS 1.112, we refer to the Notes to the Consolidated Annual Financial Statements. These set out in detail the accounting, valuation and consolidation methods applied and the right of choice under IFRS that has been exercised.

The accounting and valuation principles as well as the consolidation methods applied are the same as used in financial year 2023 (for further explanations, please refer to the Notes to the Consolidated Financial Statements as of 31 December 2023 in the "Annual Report on page 114 et seqq.)

Business activities of the DMG MORI AG group that can be clearly distinguished from other business activities for accounting purposes are reported as discontinued operations if they have been disposed of or are classified as held for sale and represent a separate major line of business or geographical area of operations.

Discontinued operations are not included in the profit/loss from continuing operations and are presented in a separate item in the consolidated income statement as profit/loss from discontinued operations after tax. If an operation is classified as a discontinued operation, the consolidated income statement and the consolidated cash flow statement for the comparative year are adjusted as if the operation had been classified as such from the beginning of the comparative year.

In addition, all IFRS amendments and new standards that are required to be applied as of 1 January 2024 were also adopted.

All IFRS amendments and IFRS new standards required to be applied from 1 January 2024 onwards have no material effect on the reporting.

SEASONAL EFFECTS

As a globally operating company, the DMG MORI AG Group is subject to various economic developments. The economic influences in the reporting period are described in detail in the chap-
page 5. ter " $\Rightarrow$ Overall conditions". In the first half of 2024, the worldwide market for machine tools continued

to be significantly impacted by ongoing geopolitical uncertainties. The ongoing war in Ukraine, restrictive monetary policy and the global increase in industrial and trade policy interventions weighed on the economy - particularly in Europe - and led to declining demand for capital goods. Other factors influencing business performance continued to be high commodity prices, increased inflation rates and high interest rates. Industry-related seasonal fluctuations are common over the course of the year and can lead to varying sales revenues and thus different earnings.

CONSOLIDATION GROUP

The DMG MORI AG Group comprised 74 companies including DMG MORI AKTIENGESELLSCHAFT as of 30 June 2024. In addition to DMG MORI AKTIENGESELLSCHAFT, 65 companies were included in the interim financial statements as part of the full consolidation process. Compared to 31 December 2023, the number of fully consolidated subsidiaries decreased by two companies. In March 2024, ISTOS GmbH, Bielefeld, was merged with DMG MORI Digital GmbH, Bielefeld. By decree published on 19 February 2024, the Russian Federation brought our investment in Ulyanovsk Machine Tools ooo, Ulyanovsk (Russia), under state control. The DMG MORI AG Group has thus lost the ability to control and influence the company in Ulyanovsk. The company was disposed of in February 2024 and will be managed as an associated company from this date.

In addition to the fully consolidated subsidiaries, DMG MORI Finance GmbH, Wernau, INTECH DMLS PRIVATE LIMITED, Bangalore (India), Pragati Automation Pvt. Ltd., Bangalore (India), Vershina Operation, LLC., Narimanov (Russia), DMG MORI HEITEC Digital Kft., Budapest (Hungary), DMG MORI India Private Ltd., Bangalore (India), RUN-TEC GmbH, Niedenstein, the German-Egyptian Company for Manufacturing Solutions (GEMAS), Cairo (Egypt), and CCP Services GmbH, Mülheim an der Ruhr, are classified as associated companies. In the interim consolidated financial statements, these companies are accounted for "at equity".

Discontinued operations

By a decree published on 19 February 2024, the Russian Federation has brought our shareholding in Ulyanovsk Machine Tools ooo, Ulyanovsk (Russia), under state control. The DMG MORI AG Group has thus lost the ability to control and influence the company in Ulyanovsk.

The loss of control over Ulyanovsk Machine Tools ooo led to the derecognition of this company from the consolidated financial statements of DMG MORI AG. As the decision to discontinue the "ECOLINE" product line was made at a later date, the loss on disposal is reported as "Earnings after taxes from discontinued operations" in accordance with IFRS 5. In our assessment, a separate, major line of business has been disposed.

Financial information on the discontinued operation for the period up to the date of disposal (February 19, 2024) is presented below. The information presented on the results of operations relates to the period January 1 to February 19, 2024 (column 2024) and January 1 to June 30, 2023 (column 2023).

8.07 // PROFIT AND LOSS FROM DISCONTINUED OPERATIONS

in € million	2024	2023
Sales revenues	0.0	0.0
Income	0.1	4.1
Expenses	$-0.2$	$-3.6$
Loss from disposal	$-91.8$	0.0
EBIT	$-91.9$	0.5
Financial result	0.0	0.1
Earnings before taxes	$-91.9$	0.6
Income taxes	0.0	0.0
Earnings after taxes	$-91.9$	0.6

Earnings after taxes from discontinued operations for the financial year 2024 in the amount of $€-91.9$ million (previous year: $€ 0.6$ million) are attributable in full to the shareholders of DMG MORI AG.

Due to the disposal of the division, assets amounting to $€ 67.5$ million and liabilities amounting to $€ 1.7$ million were derecognized. The assets included $€ 2.4$ million in cash and cash equivalents and $€ 43.0$ million in receivables from DMG MORI AG Group companies. Differences from currency translation previously recognized in equity in the amount of $€ 37.4$ million and net investments in the amount of $€ 11.4$ million were reclassified to the income statement. Discontinued operations resulted in total expenses of $€-91.8$ million. No pro rata goodwill was disposed of.

The amount of assets and liabilities disposed of is shown in the following table:

8.08
in $€$ million	Ulyanovsk Machine Tools 200
Tangible assets	20.7
Trade debtors	43.0
Other assets	1.4
Cash and cash equivalents	2.4
Discontinued assets	67.5
Provisions	0.5
Trade creditors	1.1
Other liabilities	0.1
Discontinued liabilities	1.7
Discontinued net assets	65.8
Consideration received	0
Fair value of remaining interests	0
Other comprehensive income	$-26.0$
Non-controlling equity interests	0
Loss from disposal	$-91.8$

As part of an investment guarantee provided by the Federal Republic of Germany for this direct investment internationally, we are currently pursuing compensation for the loss of investment that has occurred. A receivable for this has not yet been recognized.

EARNINGS PER SHARE

In accordance with IAS 33, earnings per share are calculated by dividing earnings after tax from continuing operations by the weighted average number of shares. Earnings after tax are reduced by the earnings of minority interests.

As in the previous year, there were no diluted earnings as of 30 June 2024.

B. 09
	2024	2023
Average weighted number of shares (pieces)	78,817,994	78,817,994
Earnings after taxes from continuing operations excluding annual net income attributable to non-controlling interests	€ K 76,655	€ K 51,359
Earnings per share from continuing operations	0.97 €	0.65 €
Earnings after taxes from discontinued operations excluding annual net income attributable to non-controlling interests	€ K -91,854	€ K 633
Earnings per share from discontinued operations	$-1.17 €$	0.01 €

INCOME STATEMENT, BALANCE SHEET, CASH FLOW STATEMENT

The table below provides a reconciliation of sales revenues for the period 1 January 2024 to 30 June 2024 and the corresponding period of the previous year by sales region as well as key product and service lines for the reportable segments.

B. 09 // BREAKDOWN OF REVENUES FROM CONTRACTS WITH CUSTOMERS

	30 June 2024						30 June 2023
in € million	Machine Tools	Industrial Services	Corporate Services	Group	Machine Tools	Industrial Services	Corporate Services	Group
Sales area
Germany	282.7	178.2	0.0	460.9	249.6	176.9	0.0	426.5
EU (excl. Germany)	129.4	233.8	0.0	363.2	165.7	232.6	0.0	398.3
USA	3.8	7.6	0.0	11.4	1.9	10.6	0.0	12.5
Asia	137.0	30.0	0.0	167.0	167.0	107.1	0.0	274.1
Other countries	48.0	53.6	0.0	101.6	49.0	28.1	0.0	77.1
Total	600.9	503.2	0.0	1,104.1	633.2	555.3	0.0	1,188.5
Important product / service lines
Machine Tools sales	600.9	0.0	0.0	600.9	633.2	0.0	0.0	633.2
Sales revenues from trade with products of DMG MORI
CO. LTD.	0.0	133.0	0.0	133.0	0.0	202.2	0.0	202.2
Original service business	0.0	370.2	0.0	370.2	0.0	352.9	0.0	352.9
Other	0.0	0.0	0.0	0.0	0.0	0.2	0.0	0.2
Total	600.9	503.2	0.0	1,104.1	633.2	555.3	0.0	1,188.5
Revenue from contracts with customers	600.9	503.2	0.0	1,104.1	633.2	555.3	0.0	1,188.5
Other sales revenues	0.0	0.0	0.1	0.1	0.0	0.0	0.1	0.1
External sales revenues	600.9	503.2	0.1	1,104.2	633.2	555.3	0.1	1,188.6

The original service business mainly comprises the LifeCycle services for our machines (including spare parts, maintenance, repairs and training).

Further explanations on the application of IFRS 15 to sales revenues from the sale of goods and the provision of services are presented in the Notes to the Consolidated Financial Statements as of 31
Annual Report 2023, December 2023 on page 139 et seq. in the "Annual Report.

Income tax expense in the interim period is calculated for the full year based on the currently expected effective tax rate in accordance with IAS 34.30(c) and is calculated using an economic approach.

Pursuant to IAS 34.16A, all types of financial assets and liabilities must be measured at fair value. In the notes to the consolidated financial statements as of 31 December 2023, the carrying amounts of the financial instruments are explained in detail. The accounting as of 30 June 2024 is unchanged. As of 30 June 2024, there are differences between the carrying amounts and fair values of long-term and short-term financial debt and other long-term and short-term financial assets. The carrying amount of long-term and short-term financial debt is $€ 28.2$ million, while the fair value is $€ 29.6$ million. The carrying amount of other long-term and short-term financial assets is $€ 44.5$ million, the fair value is $€ 44.6$ million. The application of IFRS 9 had only immaterial effect in the first half of the year.

In application of IFRS 16 "Leases", rights of use amounting to $€ 47.1$ million (31 Dec. 2023: $€ 49.1$ million) as well as lease liabilities of $€ 41.5$ million ( 31 Dec. 2023: $€ 43.2$ million) were recognized as of 30 June 2024. Further explanations on the application of IFRS 16 are provided in the Notes to the Consolidated Financial Statements as of 31 December 2023 in the "Annual Report on page 125 et seq.

MATERIAL EVENTS AFFECTING THE FINANCIAL STATEMENTS

Due to the ongoing war in Ukraine, the recoverability of significant assets, in particular tangible assets, is continuously reviewed at our Russian subsidiary. The impairment test is carried out in each case at the level of our subsidiary in Russia, which we consider to be independent cash-generating unit.

Due to the disposal of Ulyanovsk Machine Tools ooo, Ulyanovsk (Russia), from the DMG MORI AG Group, the impairment test of material assets has only been carried out at the level of one subsidiary, DMG MORI Rus ooo, Moscow (Russia), since 19 February 2024.

Based on expected cash flows, the uncertainties and risks caused by the war in Ukraine were taken into account in the cash flow projection of the underlying Russian operations in the form of several scenarios with different probabilities of occurrence. The scenarios relate to expected effects on the economic development of DMG MORI in Russia.

The pre-tax discount rate used to determine the value in use was $15.7 \%$ (31 December 2023: 16.1\%). The recoverable amount of the cash-generating unit amounted to $€ 6.7$ million (31 December 2023: $€ 4.3$ million).

Based on the scenario analyses, there was no need for adjustment as of 30 June 2024. There were unchanged impairment losses on assets (buildings) totaling $€ 12.3$ million.

Further details and explanations on the implementation of the impairment test are presented in

Annual Report 2023, pages 161
the notes to the consolidated financial statements as of 31 December 2023 in the "Annual Report on page 161 .

Financial reporting in hyperinflationary economies - IAS 29

The financial statements of subsidiaries in hyperinflationary economies are translated in accordance with IAS 29 "Financial Reporting in Hyperinflationary Economies". Since the financial year 2022, this applies to DMG MORI ISTANBUL MAKINE TICARET VE SERVIS LIMITED SIRKETI based in Istanbul (Turkey). Due to hyperinflation, the activities in Turkey are no longer accounted for on the basis of historical acquisition and production costs but adjusted for the effects of inflation. In addition, the expense and income items corresponding to the changed purchasing power ratios, including annual net income, are adjusted for inflation. The carrying amounts of the company's non-monetary balance sheet items as well as the income and expense items have been adjusted to reflect the changes in prices that occurred during the financial year prior to translation into euros based on the Consumer Price Index Turkey (CPI Turkey) used to measure purchasing power. The CPI Turkey was at 1,859 points as of 31 December 2023 and at 2,319 points as of 30 June 2024.

Gains and losses from the ongoing hyperinflation of non-monetary assets and liabilities, equity as well as items in the income statement were recognized in other financial result in the amount of $€ 1,659 \mathrm{~K}$.

STATEMENT OF COMPREHENSIVE INCOME

Total comprehensive income as of 30 June 2024 of $€ 31.9$ million comprises earnings after taxes ( $€-11,9$ million) as well as "Other comprehensive income after taxes" ( $€ 43.8$ million). Earnings after taxes, the change in the fair value of an investment recognized directly in equity as well as currency translation differences mainly increased total comprehensive income. Expenses and income attributable to seasonal factors or unevenly distributed during the financial year had no significant impact.

STATEMENT OF CHANGES IN EQUITY

Total equity increased by a total of $€ 31.9$ million to $€ 1,414.1$ million. Non-controlling interests in equity increased by $€ 3.4$ million to $€ 23.6$ million.

The consolidated result of $€-11.9$ million reduced equity. The change in the fair value of an investment, the currency changes recognized directly in equity and the remeasurement of defined benefit plans recognized directly in equity increased equity.

SEGMENT REPORT

For segment reporting purposes, the business activities of the DMG MORI AG group are divided into the business segments "Machine Tools", "Industrial Services" and "Corporate Services" in accordance with the requirements of IFRS 8. The segmentation reflects internal management and reporting based on different products and services.

Machines of DMG MORI COMPANY LIMITED which we produce under license are included in "Machine Tools". Trade with products of DMG MORI COMPANY LIMITED is included in "Industrial Services". Compared to 31 December 2023, there was no change in the definition of the segments or the determination of the segment results. The business activities of the segments are explained in detail on page 208 et seqq. in the # Notes to the Consolidated Financial Statements as of 31 December 2023.

RELATED PARTY DISCLOSURES

As presented in the Notes to the Consolidated Financial Statements as of 31 December 2023, the group continues to have numerous business relationships with related parties, which continue to be conducted on standard market terms and conditions. Related parties according to IAS 24.9 (b) are all companies that belong to the group of DMG MORI COMPANY LIMITED or in which DMG MORI COMPANY LIMITED has an interest. In line with the consolidated financial statements as at 31 December 2023, relationships with related companies are shown separately on the balance sheet.

CCP Services GmbH, Mülheim an der Ruhr, RUN-TEC GmbH, Niedenstein, German-Egyptian Company for Manufacturing Solutions (GEMAS), Cairo (Egypt), DMG MORI Finance GmbH, Wernau, INTECH DMLS PRIVATE LIMITED, Bangalore (India), Pragati Automation Pvt. Ltd, Bangalore (India), Vershina Operation, LLC., Narimanov (Russia) as well as DMG MORI HEITEC Digital Kft., Budapest (Hungary), and DMG MORI India Private Ltd., Bangalore (India), are classified as associated companies. Other related parties to the DMG MORI AG group are all other companies that belong to the consolidated group of DMG MORI COMPANY LIMITED.

DMG MORI AKTIENGESELLSCHAFT has granted a loan to DMG MORI Europe Holding GmbH. The loan amounts to $€ 351.4$ million including interests as of 30 June 2024 (31 Dec. 2023: € 503.7 million). The conditions are unchanged. The agreement was concluded at standard market terms conditions. It is disclosed in the balance sheet under receivables from other related parties.

DMG MORI Manufacturing Solutions Pinghu Co., Ltd., Pinghu (China), a subsidiary of DMG MORI AG, has received a loan of $€ 9.0$ million ( 31 Dec. 2023: $€ 8.9$ million) from DMG MORI (TIANJIN) Manufacturing CO., Ltd., another related party. The agreement was concluded at standard market terms and conditions.

A domination and profit transfer agreement pursuant to Sections 291 et seqq. AktG is in place between DMG MORI Europe Holding GmbH (controlling company) and DMG MORI AKTIENGESELLSCHAFT (controlled company).

EVENTS OCURRING AFTER THE BALANCE SHEET DATE

There were no significant events after the end of the reporting period of the interim financial statements.

RESPONSIBILITY STATEMENT

To the best of our knowledge, and in accordance with the applicable accounting and reporting principles for interim financial reporting, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the group, and the interim management report of the group includes a fair review of the development and performance of the business and the position of the group, together with a description of the material opportunities and risks associated with the expected development of the group for the remaining months of the financial year.

Bielefeld, 31 July 2024
DMG MORI AKTIENGESELLSCHAFT
The Executive Board

Dipl.-Ing. (FH) Alfred Geißler

Hirotake Kobayashi

E ADDITIONAL INFORMATION

34 List of Graphs and Tables
35 Forward-Looking Statements
35 Financial calendar
36 Contact

ADDITIONAL

INFORMATION

LIST OF GRAPHS AND TABLES

No.		page
	Key Figures	02
	GROUP INTERIM BUSINESS REPORT
A. 01	Net worth	07
A. 02	Cash flow	08
A. 03	Segment key figures	10
A. 04	Key figures for the "Machine Tools" segment	11
A. 05	Key figures for the "Industrial Services" segment	12
A. 06	Key figures for the "Corporate Services" segment	12
A. 07	Group structure	17
	INTERIM CONSOLIDATED FINANCIAL STATEMENTS
B. 01	Consolidated Income Statement	19
B. 02	Consolidated Statement of other Comprehensive Income	20
B. 03	Consolidated Balance Sheet	21
B. 04	Consolidated Cash Flow Statement	23
B. 05	Development of Group Equity	24
B. 06	Group Segment Report	24

FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements, which are based on current estimates of the management regarding future developments. Such statements are based on the management's current expectations and specific assumptions. They are subject to risks, uncertainties and other factors, as well as to the effects of the war in Ukraine or of other geopolitical conflicts, that could cause the actual circumstances including the results of operations, financial position and net worth of DMG MORI AKTIENGESELLSCHAFT to differ materially from or be more negative than those expressly or implicitly assumed or described in these statements. The business activities of DMG MORI AKTIENGESELLSCHAFT are subject to a range of risks and uncertainties, which may likewise render a forwardlooking statement, estimate or forecast inaccurate.

DMG MORI AKTIENGESELLSCHAFT is strongly affected, in particular, by changes in general economic and business conditions (including margin developments in the most important business areas as well as the consequences of a recession) as these have a direct effect on processes, suppliers and customers. Due to their differences, not all business areas are affected to the same extent by changes in the economic environment; significant differences exist with respect to the timing and extent of the effects of any such changes. This effect is further intensified by the fact that, as a global entity, DMG MORI AKTIENGESELLSCHAFT operates in various markets with very different economic rates of growth. Uncertainties arise inter alia from the risk that customers may delay or cancel orders or they may become insolvent or that prices become further depressed by a persistently unfavorable market environment than that which we are expecting at the current time; developments on the financial markets, including fluctuations in interest rates and exchange rates, in the price of raw materials, in borrowing and equity margins as well as financial assets in general; growing volatility on the capital markets and a deterioration in the conditions for the credit business as well as a deterioration in the future economic success of the core business areas in which we operate; challenges in integrating major acquisitions and in implementing joint ventures and achieving the expected synergy effects and other essential portfolio measures; the introduction of competing products or technology by other companies or the entry onto the market of new competitors; a change in the dynamics of competition (primarily on developing markets); a lack of acceptance of new products and services in customer target groups of DMG MORI; changes in corporate strategy; interruptions in the supply change, including the inability of a third party, for example due to natural catastrophes, to supply pre-fabricated parts, components or services on schedule; the outcome of public investigations and associated legal disputes as well as other measures of public bodies; the potential effects of these investigations and proceedings on the business of DMG MORI AKTIENGESELLSCHAFT and various other factors.

Should one of these factors of uncertainty or other unforeseeable event occur, or should the assumptions on which these statements are based prove incorrect, the actual results may differ materially from the results stated, expected, anticipated, intended, planned, aimed at, estimated or projected in these statements. DMG MORI AKTIENGESELLSCHAFT neither intends to nor does DMG MORI AKTIENGESELLSCHAFT assume any separate obligation to update any forward-looking statements to reflect any change in events or developments occurring after the end of the reporting period. Forward-looking statements must not be understood as a guarantee or as assurances of future developments or events contained therein.

There are two companies using the name "DMG MORI": DMG MORI AKTIENGESELLSCHAFT with registered office in Blockild, Germany, and DMG MORI COMPANY LIMITED with registered office in Tokyo, Japan. DMG MORI AKTIENGESELLSCHAFT is an affiliated company of DMG MORI COMPANY LIMITED. This report refers exclusively to DMG MORI AKTIENGESELLSCHAFT. If reference is made in this report to the "group" or "DMG MORI AC", this refers exclusively to DMG MORI AKTIENGESELLSCHAFT and its controlled companies within the meaning of Section 17 of the German Stock Corporate Act (Aktiengesetz - AktG). If reference is made to "DMG MORI" or "Global One Company", this refers to the joint activities of DMG MORI COMPANY LIMITED and DMG MORI AKTIENGESELLSCHAFT including all subsidiary companies.

FINANCIAL CALENDAR

Release for the $3^{\text {rd }}$ quarter 2024 [1 January to 30 September] 04.11.2024
Annual Press Conference
Publication Annual Report 2024
Analysts' Conference
19.03.2025

Release for the $1^{\text {st }}$ quarter 2025 [1 January to 31 March] 25.04.2025
$123^{\text {rd }}$ Annual General Meeting
09.05.2025

Subject to alteration

RESOURCE CONSERVATION

For sustainability reasons, DMG MORI AKTIENGESELLSCHAFT has been offering annual and interim reports only digitally since 2021. All financial reports are available at:
"en.dmgmori-ag.com/investor-relations/financial-reports

We will also gladly send you the interactive PDF file, please let us
know your e-mail address at: " press@dmgmori.com

CONTACT

DMG MORI AKTIENGESELLSCHAFT
Gildemeisterstraße 60
D-33689 Bielefeld
Local Court Bielefeld HRB 7144
ISIN: DE0005878003

Phone: +49 (0) 52 05/74-0
Fax: +49 (0) 52 05/74-3273
E-Mail: ${ }^{\text {info@dmgmori.com }}$

Global Corporate Communication
Walter-Gropius-Str. 7
DE-80807 Munich

Phone: +49 (0) 89248835921
E-Mail: "press@dmgmori.com

www.dmgmori.com