www.woodandpanel.com : WoodWorking Digital Magazine

Wood & Panel Europe

Menu Close Menu

HOMAG happy with a successful start into the 2021 financial year

Published on :Wednesday, May 12, 2021

The HOMAG Group got off to a good start in the 2021 financial year and achieved a new record for incoming orders in the first quarter. Orders rose equally strongly in all regions of the world. In the first quarter of 2021, the HOMAG Group’s incoming orders increased significantly by 49 percent to EUR 448 million (previous year: EUR 302 million). Sales rose by 7 percent to EUR 309 million (previous year: EUR 290 million). Due to the strong increase in orders, the order backlog as of March 31, 2021 was EUR 719 million, well above the value on the previous year’s reporting date (March 31, 2020: EUR 556 million) and also reached a record level. The HOMAG Group achieved an operating EBIT of EUR 13.5 million (previous year: EUR 16.1 million).

“The positive trend of the last months of 2020 continued in the first quarter of 2021, even if the margin quality has not yet reached the pre-crisis level,” emphasizes CEO Ralf W. Dieter. “It confirms that the furniture industry is back in an investment cycle after two weaker years.” The HOMAG Group benefited above all from strong demand in the individual machine business and growth in service.

As of March 31, 2021, the company had 6,948 employees (March 31, 2020: 6,613). Around 550 new employees have been added from the acquisition of the companies HOMAG China Golden Field and System TM in Denmark.

“We are still working intensively on optimizing processes and structures and our product range,” explains Dieter. “It pays off, for example, that we have brought several new machines and systems onto the market and thus made our range more attractive.” The HOMAG Group is benefiting from the increase in furniture purchases for their own homes during the corona pandemic, which has increased demand stimulate HOMAG customers. “The prospects for a successful business year 2021 are very good, which is why we are expecting growth in incoming orders, sales and the EBIT margin,” Dieter continued.

Tags: , , , , , , ,

Comments are closed.