HOMAG Group AG suspends its guidance for the current financial year

The previous targets for 2020 are likely out of reach due to the COVID-19 pandemic.

Schopfloch, March 30, 2020. The HOMAG Group AG will probably not be able to achieve the results previously forecasted for the financial year 2020 due to the worldwide COVID-19 pandemic. Owing to the immense uncertainty with regard to the duration and consequences of the COVID-19 pandemic, at this time the Board of Management cannot provide a reliable sales and earnings forecast for the current year. For this reason, its guidance for 2020 has been suspended.

Disclaimer

This notification contains certain forward-looking statements. Forward-looking statements are all statements not relating to historical facts or events, as well as forward-looking wording, such as “believes”, estimates”, “anticipates”, “expects”, “assumes”, “projects”, “intends”, “might”, “will”, “should” or similar wording. Such forward-looking statements are subject to risks and uncertainties because they relate to future events and are based on current assumptions of the company; and these events may not occur at all or not as anticipated. The company notes that such forward-looking statements are not a guarantee for future performance; the actual results, including the financial position and profitability of HOMAG Group, as well as the development of the economic and regulatory framework conditions, may be very different from (and, in particular, may not be as good as) those which are explicitly or implicitly assumed or described in these statements. Even if the actual results of HOMAG Group, including the financial position and profitability of HOMAG Group, as well as the development of the economic and regulatory framework conditions, match the forward-looking statements made in this notification, there is no guarantee that this will continue to apply in the future.

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