HOMAG Group sales increase in the first quarter of 2023
Schopfloch, May 9, 2023. The HOMAG Group increased sales by 10 percent in the first quarter of 2023. As expected, order intake weakened in the first quarter of 2023 after two exceptionally strong years.
Order intake amounted to EUR 353 million (previous year: EUR 574 million) in the first quarter of 2023. “We anticipated this slowdown in order intake,” emphasized CEO Dr. Daniel Schmitt. “We look back on two years of exceptionally high investments by our customers – with an absolute record level in the first quarter of 2022. We have seen a normalization of orders since mid-2022. It is encouraging, however, that order intake in the first three months of 2023 is above the level of the subdued fourth quarter of 2022.” The order backlog decreased to EUR 1,036 million as of March 31, 2023 (March 31, 2022: EUR 1,213 million), but remains at a high level.
As a result of this high order backlog, HOMAG Group sales rose by 10 percent to EUR 404 million (previous year: EUR 367 million). At EUR 27.0 million, EBIT before special items was slightly above the previous year’s level (EUR 26.8 million). It includes, among other things, increased expenditure on research and development for new product innovations that will be presented at the industry’s leading trade fair, LIGNA. As of March 31, 2023, the HOMAG Group had 7,570 employees (March 31, 2022: 7,274).
“We are now very much looking forward to the personal encounters at LIGNA in Hanover, which starts on Monday,” says Dr. Schmitt. “That is where we want to impress customers with our innovations, our service, and our unique offering.”
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, about 20 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 7,000 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 press release contains certain statements relating to the future. Future oriented 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.