Thursday, July 29, 2021
Recently the HOMAG Group happily reported a new record level of orders, and this order level is substantially high after the pandemic pause. HOMAG Group benefits from higher investments in living spaces in the first half of 2021. This positive development is partly attributable to the new Solid Wood Processing business unit, through which HOMAG is strongly pushing ahead with its solid wood activities for timber frame house construction.
Compared to the first half year of 2020, which was marked by the effects of the pandemic, order intake at the HOMAG Group was up substantially by 80 percent, increasing to € 887 million (previous year: € 493 million). The company thus exceeded its previous record level of € 734 million, achieved in 2017, by around 20 percent. Sales increased by 19 percent to € 657 million (previous year: € 552 million), while orders on hand also reached an all-time high of € 844 million on June 30, 2021 (June 30, 2020: € 480 million). The HOMAG Group improved its operating EBIT to € 39.6 million (previous year: € 10.7 million).
“We are at the beginning of a new investment cycle. Plus, our customers around the world are benefiting from the fact that people are increasingly investing in their living spaces,” highlights CEO Ralf W. Dieter. “This, in turn, leads to dynamic demand for efficient machines, like the ones used for producing kitchens and furniture – and these innovative solutions are what we are offering our customers.” The stand-alone machine business, along with the service business, saw a particularly positive development at the HOMAG Group in the first six months of 2021. But the company’s systems business involving large systems is also on the road to recovery, part of which almost came to a standstill in the same period of the previous year due to the coronavirus pandemic.
“We are particularly pleased that our investments in the new solid wood segment are already paying off,” explains Dr. Daniel Schmitt, responsible for this area on the Board of Management. “We are observing a rise in demand for sustainable and climate-friendly timber houses, which is working in our favor.”
Tags: homag, pandemic, pandemic recovery, woodworking and manufacturing, woodworking industry, woodworking machinery
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