Signs of recovery in the third quarter
HOMAG Group: Financial figures for the first nine months of 2020
Schopfloch, November 5, 2020. In the third quarter of 2020, HOMAG Group recorded a significant improvement in order intake (+41%) and an economic recovery compared to the second quarter of 2020. Nevertheless, the nine-month figures are also affected by the corona pandemic.
"Like the entire machinery industry, we are still noticing the effects of the Corona pandemic," explains CEO Pekka Paasivaara. "However, incoming orders recovered significantly in the third quarter. The further course of the pandemic will determine whether this positive development will continue.
In the first nine months of 2020, HOMAG Group's sales revenues fell by 13 percent to EUR 833 million (prior year: EUR 957 million) and order intake by 16 percent to EUR 763 million (prior year: EUR 907 million). The order backlog as of September 30, 2020 was EUR 461 million (December 31, 2019: EUR 546 million). In the first three quarters of 2020, the HOMAG Group generated operating EBIT of EUR 20.8 million (prior year: EUR 58.5 million). As of September 30, 2020, the Group employed 6,482 people (September 30, 2019: 6,615).
According to Paasivaara, business developed differently in the global market regions: "We see a recovery especially in China and in Northern and Eastern Europe. The trend is also positive in other regions, although there we are still below pre-crisis levels".
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 6,600 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. Futureoriented 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