HOMAG Group continues to grow
Schopfloch, March 27, 2017. The HOMAG Group, the world's leading manufacturer of machinery and systems for the woodworking industry and carpenters, continued to grow in the 2016 financial year.
| 2016 | 2015 | |
|---|---|---|
| Incoming orders | EUR 1,165 million | EUR 1,058 million |
| Sales Revenue | EUR 1,082 million | EUR 1,039 million |
| Operating EBIT* | EUR 71 million | EUR 63 million |
| Employees (Dec. 31)** | 6,126 | 5,906 |
* before extraordinary effects | ** incl. apprentices
The company increased its incoming orders in 2016 by around 10 percent to € 1,165 million (previous year: € 1,058 million). Sales revenue were up by a good 4 percent, reaching € 1,082 million (previous year: € 1,039 million). Operating EBIT rose by 13 percent to € 71 million (previous year: € 63 million) and thus at a faster rate than sales revenue. As at December 31, 2016, the HOMAG Group had 6,126 employees (previous year: 5,906).
"We were very successful in the last financial year, especially in China, Central Europe and North America", explains CEO Pekka Paasivaara. "Our good business performance, with incoming orders growing at a double-digit rate, is all the more remarkable given the extensive change process we underwent in 2016. As the leading provider of solutions for the woodworking industry, we are well positioned for our expected future growth, and we want to continue to increase our market share. We made excellent progress throughout this change process, which is also reflected in our increased profitability", emphasizes Paasivaara. "In addition, our R&D ratio was over four percent, which is considerably above the industry average. We want to maintain these high levels of investment in the development of new solutions to offer our customers ongoing innovations."
The HOMAG Group has also started the current financial year with dynamic, double-digit growth. Pekka Paasivaara is optimistic about the LIGNA trade fair, which takes place in Hannover in May 2017: "Here, we will pull out all the stops as a market and technology leader and impress our customers with numerous innovations." The HOMAG Group plans to continue its growth trajectory in 2017 and expects another increase in order intake, sales revenue and earnings.
Disclaimer
This press 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 press release, it cannot be guaranteed that the same will hold true in the future.