Friday, February 25, 2022
HOMAG Group records significant improvement in earnings in 2021. The company has even achieved by far the highest order intake in its history in the fiscal year 2021. Sales and earnings also increased compared to the previous year. In addition to high demand in the furniture industry, growing business in production equipment for the construction of sustainable timber houses also contributed to this success.
According to preliminary figures, the HOMAG Group’s order intake in the fiscal year 2021 increased by almost 60 percent to EUR 1,742 million over the previous year (EUR 1,093 million), which had been heavily influenced by the coronavirus pandemic. “The fact that we exceeded the previous record order intake achieved in 2017 by around 28 percent reflects last year’s exceptionally strong demand,” emphasizes CEO Dr. Daniel Schmitt. “This success is all the more impressive given that the underlying conditions were not easy due to the restrictions caused by the coronavirus pandemic. This demonstrates the great commitment of our employees worldwide.”
“In 2021, we performed very well in all regions worldwide, benefiting from the high level of investment in the furniture industry,” explains Dr. Daniel Schmitt. “This particularly applies to the European market with its particularly high growth rates.” The very strong service business with a significant increase in sales also had a positive effect.
With the acquisition of the Danish companies System TM in 2020 and Kallesoe last year, the HOMAG Group has significantly expanded its activities in timber construction. Together with its subsidiary WEINMANN, which is active in timber house construction, the HOMAG Group can offer several technologies from a single source as a system supplier. “This segment made an important contribution to our success in 2021,” says the CEO. “Climate-friendly timber construction is currently experiencing a boom and we are very well positioned in this growth market.”
Dr. Daniel Schmitt is optimistic with respect to the current year. “With our high order backlog, we are confident about 2022, although we expect order intake to return to normal after the exceptional performance in 2021.”
Tags: Dr. Daniel Schmitt, homag, Italy, Weinmann, wood, wood and panel, woodworking and manufacturing, woodworking industry
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