HOMAG Group reports highest order backlog since the end of 2008
Sales revenue increases by 3.7 percent in the second quarter of 2013 | Net profit for the period improved significantly | Forecasts for 2013 confirmed
|EUR million||Q2 2013||Q2 2012|
|Net profit for the period (after non-controlling interests)||2.2||-0.2|
The HOMAG Group, the world’s leading manufacturer of plant and machinery for the woodworking industry and cabinet makers, has reached, with the order backlog of EUR 249.1 million as of June 30, 2013 (prior year: EUR 223.6 million), the highest figure since the end of 2008. Among other factors, this is due to the strong project business with longer processing times in production. CEO Dr. Markus Flik is satisfied: “This high order backlog reflects our good order intake in the first half of the year and gives us a sound basis for the second half of the year.” Based on the current more modest propensity to invest, which is affecting the field of mechanical engineering as a whole, order intake decreased to EUR 148.6 million in the second quarter of 2013 (prior year: EUR 156.6 million). By contrast, sales revenue at the HOMAG Group rose by 3.7 percent between April and June 2013 to EUR 195.3 million (prior year: EUR 188.3 million).
Operative EBITDA before employee profit participation expenses and before extraordinary expenses decreased to EUR 13.7 million (prior year: EUR 14.2 million), although the ratios of personnel expenses and cost of materials to total operating performance were both down. CFO Hans-Dieter Schumacher explains this with the increase in other operating expenses of EUR 4.4 million. “Above all, this amount relates to trade fair costs for LIGNA, which is only held every second year.” Based on the significantly improved financial result and lower employee profit participation expenses, EBT after employee profit participation expenses and after extraordinary expenses improved to EUR 3.8 million (prior year: EUR 1.6 million). A further decrease in the tax expense ratio results in net profit for the period after non-controlling interests of EUR 2.2 million (prior year: EUR -0.2 million), and leads to earnings per share of EUR 0.14 (prior year: EUR -0.01).
The Group’s headcount decreased slightly to 5,019 as of June 30, 2013 compared to the prior year (5,038 employees).
At LIGNA, the world’s leading trade fair for the woodworking industry, which was held in May in Hanover, the HOMAG Group was again the largest single exhibitor. Dr. Flik is very pleased with the results: “We were able to inspire customers with our innovations. Especially with our new operating and control systems powerTouch/powerControl, we have taken the lead in networked production in our industry.” In addition, LIGNA yielded high-quality customer contacts and the HOMAG Group won a large number of orders. These will not appear in order intake until the third quarter.
First six months of 2013
At EUR 330.9 million, the HOMAG Group’s order intake improved slightly in the first half of 2013 contrary to the trend in the industry (prior year: EUR 327.2 million). Sales revenue decreased slightly to EUR 372.0 million (prior year: EUR 376.0 million). Operative EBITDA before employee profit participation expenses and before extraordinary expenses decreased to EUR 27.1 million (prior year: EUR 30.9 million). EBT after employee profit participation expenses and after extraordinary expenses decreased to EUR 7.4 million (prior year: EUR 8.3 million). As a result of the improved tax rate, net profit for the period after non-controlling interests rose to EUR 4.1 million (prior year: EUR 3.0 million), leading to earnings per share of EUR 0.26 (prior year: EUR 0.19).
The management board confirms its forecasts so far for 2013. Subject to the condition that there are no major disruptions in the global economy, the Group aims to exceed the prior-year order intake figure in 2013 and generate sales revenue for the Group of around EUR 800 million. The Group anticipates an operative EBITDA before employee profit participation expenses and before extraordinary expenses of around EUR 75 million and expects to return a net profit of the Group for the year of around EUR 15 million.
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.