|   Schopfloch

HOMAG Group gets off to a successful start in 2012

Earnings power improves further in first quarter of 2012 | Sales revenue rises by about 7 percent | Forecasts for 2012 confirmed

EUR m Q1 2012Q1 2011Change
Order intake170.6187.8-9.2%
Sales revenue187.7175.6+6.9%
Operative EBITDA16.714.6+14.4%
EBT6.83.4+98.5%
Net profit (after non-controlling interests)3.21.5+112.3%

HOMAG Group AG, the world’s leading manufacturer of plant and machinery for the woodworking industry and for cabinet makers reported that it had a successful first quarter of 2012. Sales revenue rose by about 7 percent, reaching EUR 187.7 million (prior year: EUR 175.6 million). According to the management board, order intake decreased as expected to EUR 170.6 million (prior year: EUR 187.8 million), as the excellent prior-year figure had been marked by an extraordinary strong project business. The Group substantially increased the order backlog to EUR 208.9 million as of March 31, 2012 compared to year-end 2011 (December 31, 2011: EUR 158.6 million) and thus almost reached the good figure for the prior-year comparative period (EUR 218.5 million).

CEO Dr. Markus Flik is satisfied with the start to the year: “We have further improved our operating performance in the first three months of 2012. We still see ourselves on track and our products are being well received around the world.” In particular, it was possible to further expand business in Asia, in the markets China, Japan, South Korea and parts of South East Asia with order intake in each case significantly above the prior-year level.

“The further increase in productivity is evidenced by the significant improvement in earnings indicators,” CFO Hans-Dieter Schumacher explains. For instance, operative EBITDA before employee participation expenses and before extraordinary expenses increased by 14 percent to EUR 16.7 million (prior year: EUR 14.6 million). EBT after employee participation expenses and after extraordinary expenses almost doubled to EUR 6.8 million (prior year: EUR 3.4 million). The net profit for the period after non-controlling interests came to EUR 3.2 million (prior year: EUR 1.5 million), and leads to earnings per share of EUR 0.21 (prior year: EUR 0.10).

Compared to year-end 2011, the Group’s headcount decreased slightly from 5,141 to 5,104 employees as of March 31, 2012; compared to the level as of the end of the first quarter of 2011 (5,071 employees), the headcount rose significantly less than the sales revenue growth. 

Outlook
Following HOMAG Group AG’s successful start to the year, the management board confirms the forecast made to date for the current fiscal year. This means that the aim is to attain an order intake in 2012 that is roughly at the same level as 2011. As regards sales revenue, the aim is to reach about EUR 750 million in 2012 and thereby roughly match the level of 2011 – adjusted for the special effect of the large-scale project with Mekran. Based on this sales revenue forecast, the management board anticipates for 2012 an operative EBITDA (before employee participation expenses and before extraordinary expenses) for the Group of around EUR 65 million. Owing to significantly reduced extraordinary expenses, HOMAG Group expects a net profit again in 2012.

 

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 announcement, it cannot be guaranteed that the same will hold true in the future.

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