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Annual general meeting of HOMAG Group AG in-person again

Bietigheim-Bissingen / Schopfloch, May 11, 2023. HOMAG Group AG held its annual general meeting today as an in-person event again for the first time since the start of the coronavirus pandemic.

The annual general meeting was held at the administrative building of Dürr AG, the parent company of HOMAG Group AG, in Bietigheim-Bissingen and was broadcast via livestream. A total of around 100 shareholders and guests attended the meeting – 89 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. Klaus Achtelik, Human Resources Manager of the Dürr Group, was newly elected to the Supervisory Board. He replaces Dr. Hans Schumacher, who has resigned from the Supervisory Board.

For the 2022 fiscal year, 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 2022, in which the HOMAG Group saw new record levels of sales and earnings. Another topic dealt with the upcoming industry-leading trade fair LIGNA in Hanover, where HOMAG will be presenting numerous innovations. Looking ahead to the current fiscal year 2023, Schmitt said: “After the very good previous years, we expect order intake to normalize. This is particularly true for the furniture sector; we continue to see excellent opportunities for growth in timber construction.”

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.

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.

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