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HOMAG Group AG organises their successful annual general meeting

 Monday, June 3, 2024

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HOMAG Group AG organises their successful annual general meeting

HOMAG Group AG once again held its annual general meeting as an in-person event on May 16. The shareholders approved all items on the agenda by a large majority.

For the second time since the coronavirus pandemic, the annual general meeting of Dürr AG, the parent company of HOMAG Group AG, was held in their administration building in Bietigheim-Bissingen and broadcast via livestream. Approximately 70 shareholders and guests attended, representing around 90 percent of the share capital. The actions of both the Board of Management and the Supervisory Board were approved by a large majority.

For the fiscal year 2023, HOMAG Group AG will pay its shareholders a compensation payment of EUR 1.01 per share. The compensation payment results from the domination and profit and loss transfer agreement concluded with the parent company Dürr.

In his speech, CEO Dr. Daniel Schmitt looked back on the 2023 fiscal year, in which the HOMAG Group once again achieved slight growth in sales and earnings. However, the significant decline in order intake reflected the weak market situation.

The HOMAG Group has responded to the resulting underutilization with a package of measures to adjust capacity and increase efficiency, which Dr. Schmitt explained in detail. “We are thus securing the competitiveness and, above all, the future viability of the HOMAG Group. We are convinced that we will benefit from our improved cost structure and greater flexibility in the medium and long term, and that we will be able to return to profitable growth when the next upturn comes,” concluded Dr. Daniel Schmitt.

The HOMAG Group is the world’s leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 14 specialised 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 over 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.

Source: HOMAG

Read more news on: HOMAG, woodworking, tapio, woodworking digital

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