HOMAG Group starts successfully into the fiscal year 2021
Quarterly record for incoming orders
Schopfloch, May 11, 2021. The HOMAG Group got off to a good start into the fiscal year 2021, setting a new record for order intake in the first quarter. The number of orders increased equally strongly in all regions of the world.
In the first quarter of 2021, the HOMAG Group’s order intake increased significantly by 49 percent to EUR 448 million (previous year: EUR 302 million). Sales increased by 7 percent to EUR 309 million (previous year: EUR 290 million). As a result of the sharp growth in orders, the order backlog at March 31, 2021, was EUR 719 million, significantly higher than the figure at the previous year’s reporting date (March 31, 2020: EUR 556 million), also reaching a record level. The HOMAG Group generated an operating EBIT of EUR 13.5 million (previous year: EUR 16.1 million).
“The positive trend of the last months of 2020 has continued in the first quarter of 2021, even though margin quality has not yet reached pre-crisis levels,” emphasizes CEO Ralf W. Dieter. “It is now clear that the furniture industry is back in an investment cycle after two weaker years.” The HOMAG Group benefited above all from strong demand in the single machine business and growth in service.
As of March 31, 2021, the company had 6,948 employees (March 31, 2020: 6,613). As a result of the acquisition of HOMAG China Golden Field and System TM in Denmark, approximately 550 new employees have joined the Group.
“We continue to work intensively on optimizing processes and structures and our product range,” explains Dieter. “For example, it is paying off that we have launched several new machines and systems, thus increasing the attractiveness of our product range.” The HOMAG Group is benefiting from the increase in home furniture purchases during the corona pandemic, which is boosting demand among HOMAG customers. “The prospects for a successful fiscal year 2021 are very good, which is why we expect growth in order intake, sales and EBIT margin,” Dieter adds.
The HOMAG Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 14 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.Back to List