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MarketScreener Homepage  >  Equities  >  Xetra  >  Homag Group AG    HG1   DE0005297204

HOMAG GROUP AG

(HG1)
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1st quarter 2019: HOMAG Group increased sales

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05/20/2019 | 03:53am EDT

Schopfloch, May 17, 2019. The HOMAG Group further increased its sales in the 1st quarter of 2019. The world's leading supplier of integrated solutions for production in the woodworking industry and woodworking shops with order intake on a solid level, despite the more challenging economic climate.

In the 1st quarter of 2019, the HOMAG Group increased its sales by eight percent to € 319 million (previous year: € 295 million). At € 335 million, order intake reached the level of the previous quarters but fell below the extraordinary strong 1st quarter of the previous year (€ 415 million). Previous years Q1 was influenced by a large order from Poland amounting to around € 60 million. The order backlog was worth € 622 million as at March 31, 2019 (3/31/2018: € 676 million). Operating EBIT decreased slightly to € 20.5 million (previous year: € 21.9 million), due to higher material and personnel costs. As at March 31, 2019, the HOMAG Group reported 6,633 employees (3/31/2018: 6,484 employees).

'We have seen a weaker economic development over the last few months. Thus, our customers were more cautious. Nevertheless we can look back on a respectable 1st quarter of 2019', explains CEO Pekka Paasivaara. 'Meanwhile, the slowdown of the Chinese market from the previous year continued, while in the United States, in many European countries and in Asia we saw a good level of incoming orders.'

At LIGNA, the industry's most important trade fair, which will take place in Hanover at the end of May, the HOMAG Group wants to impress customers with its innovative strength as the world market leader. 'Our exhibition area of 5,000 m² will feature an extremely broad range of solutions. We will show machines, cells, systems, software and service for wood processing', says Paasivaara. 'We will present integrated cell concepts in different performance classes. We are thus also opening the door to digitization for woodworking shops. Plus we will showcase the smart factory using automated guided vehicles and robots.' Innovative solutions in the fields of surface processing, building components and timber frame house construction will also be on show.

Disclaimer

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.

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Disclaimer

Homag Group AG published this content on 20 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 May 2019 07:52:08 UTC

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Capitalization 576 M
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NameTitle
Pekka Paasivaara Chief Executive Officer & Director-Human Resources
Ralf W. Dieter Chairman-Supervisory Board
Franz Peter Matheis Chief Financial Officer
Carmen Hettich-Günther Member-Supervisory Board
Ernst Esslinger Member-Supervisory Board
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