Fiscal year 2021: Record orders and significant improvement in earnings
Schopfloch, February 24, 2022. The HOMAG Group achieved by far the highest order intake in its history in the fiscal year 2021. Sales and earnings also increased significantly compared to the previous year. In addition to high demand in the furniture industry, growing business in production equipment for the construction of sustainable timber houses also contributed to this success.
According to preliminary figures, the HOMAG Group’s order intake in the fiscal year 2021 increased by almost 60 percent to EUR 1,742 million over the previous year (EUR 1,093 million), which had been heavily influenced by the coronavirus pandemic. “The fact that we exceeded the previous record order intake achieved in 2017 by around 28 percent reflects last year’s exceptionally strong demand,” emphasizes CEO Dr. Daniel Schmitt. “This success is all the more impressive given that the underlying conditions were not easy due to the restrictions caused by the coronavirus pandemic. This demonstrates the great commitment of our employees worldwide.”
Sales improved by 25 percent to EUR 1,389 million (previous year: EUR 1,112 million), also reaching a record level despite supply chain constraints. The strong demand also led to a significant increase in the order backlog, which stood at EUR 1,002 million as of December 31, 2021 (December 31, 2020: EUR 581 million). The HOMAG Group increased its operating EBIT more than three-fold to EUR 92.1 million (previous year: EUR 27.0 million). As of December 31, 2021, the company had 7,477 employees (December 31, 2020: 6,942). Roughly 110 employees joined the company for acquisition-related reasons.
“In 2021, we performed very well in all regions worldwide, benefiting from the high level of investment in the furniture industry,” explains Dr. Daniel Schmitt. “This particularly applies to the European market with its particularly high growth rates.” The very strong service business with a significant increase in sales also had a positive effect.
With the acquisition of the Danish companies System TM in 2020 and Kallesoe last year, the HOMAG Group has significantly expanded its activities in timber construction. Together with its subsidiary WEINMANN, which is active in timber house construction, the HOMAG Group can offer several technologies from a single source as a system supplier. “This segment made an important contribution to our success in 2021,” says the CEO. "Climate-friendly timber construction is currently experiencing a boom and we are very well positioned in this growth market.”
Dr. Daniel Schmitt is optimistic with respect to the current year. “With our high order backlog, we are confident about 2022, although we expect order intake to return to normal after the exceptional performance in 2021.”
The HOMAG Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 15 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.