Virtual annual general meeting of HOMAG Group AG
Schopfloch, May 12, 2022. Due to the corona pandemic, the annual general meeting of HOMAG Group AG was held virtually for the third time today. Approximately 91 percent of the share capital was represented. The actions of the Board of Management and the Supervisory Board were approved with a large majority at the annual general meeting.
For the fiscal year 2021, HOMAG Group AG will pay its shareholders a compensation payment of EUR 1.01 per share. The compensation payment results from the domination and profit and loss transfer agreement concluded with the parent company Dürr.
In his speech, CEO Dr. Daniel Schmitt looked back on the successful fiscal year 2021, in which the HOMAG Group achieved a record order intake despite the global supply chain problems. Earnings before special items more than tripled. Following the successful first quarter of 2022 and in view of the high order backlog, Dr. Schmitt is optimistic for 2022: “We aim to continue to grow sales and EBIT before special items, even though challenges have increased in the current environment of political uncertainty, supply chain issues and material price increases.”
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.