Monday, May 15, 2017
HOMAG Group AG, the world’s leading manufacturer of plant and machinery for the woodworking industry and for cabinet makers, made a good start to the fiscal year 2017 and further strengthen market position. The HOMAG Group was able to substantially increase order intake, sales revenues and earnings.
In the first quarter of 2017, the HOMAG Group’s sales revenue climbed 31 percent to EUR 401 million (prior year: EUR 306 million). Order backlog reached its highest level in the company’s history with EUR 520 million as of March 31, 2017 (March 31, 2016: EUR 373 million) and sales revenue increased 14 percent to EUR 296 million (prior year: EUR 260 million). The operating EBIT climbed to EUR 23.2 million (prior year: EUR 16.5 million). As of March 31, 2017, the HOMAG Group had 6,083 employees (prior year: 5,946).
“We had an extraordinarily good first quarter,” CEO Pekka Paasivaara emphasizes. “In all major regions, particularly in North America, Europe and China, we were able to increase our order intake substantially.” Pekka concluded.
Pekka Paasivaara also looks to the remainder of the fiscal year with optimism, and he anticipates further impulses from the industry’s leading trade fair LIGNA, which starts on May 22, 2017 in Hanover. “We are confident that our innovations are going to resonate extremely well with customers there. In addition, we are presenting “tapio”, a powerful IoT-platform for the wood processing sector at LIGNA. This signals our entry to the second stage of Industry 4.0. And we are not stopping there: our aim is to lead the entire market into the digital future. Due to the growing individualization, the complexity in the production process and the corresponding data volumes of our customers are constantly increasing. Therefore, they want to work with the HOMAG Group as a partner, because we can master this complexity and deliver everything from a single source.”
Tags: cabinet makers, CEO Pekka Paasivaara, fiscal year 2017, further strengthen market position, good start, HOMAG Group AG, plant and machinery, woodworking industry, world's leading manufacturer
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