HOMAG Group with significant increase in sales revenue and earnings
Positive business development in the first nine months of 2022
Schopfloch, November 10, 2022. The HOMAG Group continues to record a positive business development and was able to significantly increase sales revenue and earnings in the first nine months of 2022.
In the first three quarters of 2022, the HOMAG Group’s order intake increased again slightly year-on-year by 4 percent to EUR 1,418 million (previous year: EUR 1,367 million). “When comparing order intake with the previous year, it must always be taken into account that 2021 was an outstanding year in terms of orders,” explains CEO Dr. Daniel Schmitt. “The fact that we are back at this very high level in the current fiscal year is a great success.” Demand was particularly strong in North America, where the HOMAG Group was able to grow by around 50 percent. Due to the high order intake, the order backlog increased to EUR 1,256 million as of September 30, 2022 (Sept. 30, 2021: EUR 1,003 million).
Sales increased by 20 percent to EUR 1,195 million (previous year: EUR 1,000 million). The HOMAG Group was able to significantly increase its EBIT before extraordinary effects by 38 percent to EUR 92.4 million (previous year: EUR 67.1 million) and already reached the level of 2021 after three quarters. Dr. Daniel Schmitt: “The fact that we were able to increase our earnings so significantly despite the additional expenses due to supply chain problems is mainly due to the efficiency improvements achieved in recent years and the good service business, along with the high capacity utilization. This was also due in particular to the contributions of our employees, who mastered all the challenges with great flexibility.”
As of September 30, 2022, the number of employees in the company had increased to 7,462 (9/30/2021: 7.001). The HOMAG Group has built up its workforce particularly in the strategically important areas of service and timber house construction.
“We observe that the steadying of demand in the business with furniture manufacturers, which has been expected for some time, is occurring,” says Dr. Schmitt, summarizing further expectations. “However, we do not expect a slump, but a normalization at a high level. In our business with production technology for timber house construction, we expect the growth momentum to continue in view of the trend towards the construction of prefabricated climate-friendly timber houses.”
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.