Published on : Monday, November 13, 2017
In the first nine months of 2017, the HOMAG Group, the world’s leading manufacturer of machines and systems for the woodworking industry and trade, continued its positive performance and recorded significant increases, especially in incoming orders and earnings.
The HOMAG Group’s incoming orders rose by 26 percent to € 1,079 million (previous year: € 858 million). On September 30, 2017, it recorded an order backlog of € 578 million (September 30, 2016: € 381 million), while sales were up 12 percent, reaching € 901 million (previous year: € 804 million). Operating EBIT rose by 47 percent to € 71.1 million (previous year: € 49.6 million). As at September 30, 2017, the HOMAG Group had 6,316 employees (previous year: 6,072 employees).
“We are still seeing a high level of demand for our solutions”, highlights CEO Pekka Paasivaara. “And we are successful in all regions around the world.” CFO Franz Peter Matheis sees the disproportionately strong increase in earnings as a validation of the measures taken to achieve efficiency gains. “We have standardized and optimized our processes and systems and made our production more efficient. Although we have already achieved a lot, we want to keep on getting better. This is why we have initiated a comprehensive Operational Excellence Program.” Pekka concluded.
Paasivaara expects further growth, mainly as a result of the customer trend toward digitization and automation. By offering end-to-end solutions, the HOMAG Group sees itself as a long-term partner to its customers. With this in mind, the HOMAG Group expects 2017 to be a successful year overall, and it remains confident for 2018, not least given the high order backlog.
Tags: 2017, first nine month, Homag group, incoming orders and earnings, positive performance, record, significant increases, woodworking industry and trade, world's leading manufacturer of machines and systems