HOMAG Group generates record sales revenue in 2014
Strong increase in order intake and order backlog | Improvement in operative earnings indicators | Substantial reduction in net liabilities to banks
|in Mio. EUR||2014||2013|
|Net profit (after non-controlling interests)||18.9||18.4|
|Net liabilities to banks||28.5||69.2|
|Headcount as of December 31||5,606||5,064|
*New calculation method: Order intake and order backlog now contain own machines, merchandise of production companies and the after-sales Segment
**Earnings before interest, taxes, depreciation and amortization as well as before employee profit participation and before extraordinary expenses
HOMAG Group AG, the world’s leading manufacturer of plant and machinery for the woodworking industry and cabinet makers, was able to substantially increase sales revenue and order intake, and further improve its operative earnings indicators in fiscal year 2014. A member of the Dürr Group, the company's sales revenue increased by about 16 percent to EUR 914.8 million (prior year: EUR 788.8 million) based on preliminary figures. Somewhat more than half of the growth is attributable to the US sales and service company Stiles Machinery, Inc., which the HOMAG Group had acquired at the beginning of 2014. Order intake, which is not affected by the Stiles acquisition, climbed 9.3 percent to EUR 802.6 million (prior year: EUR 734.3 million). At EUR 307.3 million as of December 31, 2014, the Group closed the year with a record order backlog (prior year: EUR 207.6 million).
“We have resolutely remained on our course for growth in 2014 and gained additional market shares,” CEO Ralph Heuwing emphasizes. “We were also able to significantly improve our operative results of operations, although we continue to see potential here that can be captured in the years ahead.”
Outpacing sales revenue growth, operative EBITDA before employee participation expenses and before extraordinary expenses of the HOMAG Group rose 23.0 percent to EUR 93.2 million (prior year: EUR 75.8 million). Net profit after non-controlling interests increased slightly to EUR 18.9 million (prior year: EUR 18.4 million). Net profit was burdened by some special effects, mainly attributable to the Stiles acquisition.
“Our positive business development and our good operative results of operations in fiscal year 2014 are reflected in the substantial reduction in net liabilities to banks”, CFO Hans-Dieter Schumacher emphasizes. This had decreased as of December 31, 2014 by about 59 percent to EUR 28.5 million (prior year: EUR 69.2 million), despite the cash outflow for the Stiles acquisition, increased investment and the larger dividends distributed.
As of December 31, 2014, the HOMAG Group's headcount rose to 5,606 employees (prior year: 5,064 employees). This includes 329 employees from the acquired Stiles Machinery, Inc. Apart from this, the build-up in headcount is mainly attributable to the foreign production facilities in Poland and China.
The detailed results of the fiscal year 2014 of the HOMAG Group together with an updated forecast for 2015 will be published on March 31, 2015.
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 announcement, it cannot be guaranteed that the same will hold true in the future.
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