HOMAG Group AG adjusts earnings expectations
Schopfloch, July 22, 2019 - HOMAG Group AG today adjusted its earnings forecast for the 2019 financial year. From today's perspective, earnings after taxes and before profit transfer are expected to be between EUR 42 and 46 million. Previously, HOMAG Group AG had forecast earnings after taxes and before profit transfer for 2019 above the previous year's figure (EUR 54 million).
Homag Group AG / Key word(s): Change in Forecast
HOMAG Group AG adjusts earnings expectations
22-Jul-2019 / 21:55 CET/CEST
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Schopfloch, July 22, 2019 - HOMAG Group AG today adjusted its earnings forecast for the 2019 financial year. From today's perspective, earnings after taxes and before profit transfer are expected to be between EUR 42 and 46 million. Previously, HOMAG Group AG had forecast earnings after taxes and before profit transfer for 2019 above the previous year's figure (EUR 54 million).
Due to its function as a holding company, HOMAG Group AG's earnings depend on the earnings of its subsidiaries. These are determined by income from investments and profit and loss transfer agreements.
The main reason for the reassessment is that the subsidiaries of HOMAG Group AG are recording a market downturn in business with the furniture industry. Their results are burdened by declining margins due to the declining market volume. In addition, there will be a significant decline in sales in the higher-margin Chinese business and a disproportionate increase in material and personnel costs compared with sales. In the second half of the year, sales at HOMAG Group AG should be lower than previously expected.
WKN: 529720
ISIN: DE0005297204
HOMAG Group AG
Homagstraße 3-5
72296 Schopfloch
Germany
www.homag.com
Jens Fahlbusch
Communication
Phone: +49 7443 13-2796
jens.fahlbusch@homag.com
Company Background
The HOMAG Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 14 specialized production sites, 23 Group-owned sales and service companies and approximately 60 exclusive sales partners worldwide make the company a unique system provider. Backed by a workforce of some 6,600 employees the HOMAG Group offers its customers solutions for digitized production, based on digital data continuity from point of sale through the entire production process, combined with a comprehensive software suite. In addition, the open ecosystem "tapio" (open Internet-of-Things platform) maps the data flow along the entire value chain of the timber industry. The HOMAG Group has been majority-owned by the Dürr Group since October 2014.
Disclaimer
This release contains certain statements relating to the future. Futureoriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as "believes", "estimates", "assumes", "forecasts", "intend", "may", "will", "should" or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this release, it cannot be guaranteed that the same will hold true in the future.
22-Jul-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Homag Group AG, Homagstr. 3-5, 72296 Schopfloch, Germany
Phone: +49 (0)7443 / 13 – 0
Fax: +49 (0)7443 / 13 – 2300
E-mail: info@homag.com
Internet: www.homag.com
ISIN: DE0005297204
WKN: 529720
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 844921