Wood & Panel

HOMAG witnesses steady business growth

 Tuesday, November 15, 2022

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The HOMAG Group continues to record a positive business development and was able to significantly increase sales revenue and earnings in the first nine months of 2022. In the first three quarters of 2022, the HOMAG Group’s order intake increased again slightly year-on-year by 4 percent to EUR 1,418 million (previous year: EUR 1,367 million). “When comparing order intake with the previous year, it must always be taken into account that 2021 was an outstanding year in terms of orders,” explains CEO Dr. Daniel Schmitt. “The fact that we are back at this very high level in the current fiscal year is a great success.” Demand was particularly strong in North America, where the HOMAG Group was able to grow by around 50 percent. Due to the high order intake, the order backlog increased to EUR 1,256 million as of September 30, 2022 (Sept. 30, 2021: EUR 1,003 million).

Sales increased by 20 percent to EUR 1,195 million (previous year: EUR 1,000 million). The HOMAG Group was able to significantly increase its EBIT before extraordinary effects by 38 percent to EUR 92.4 million (previous year: EUR 67.1 million) and already reached the level of 2021 after three quarters. Dr. Daniel Schmitt: “The fact that we were able to increase our earnings so significantly despite the additional expenses due to supply chain problems is mainly due to the efficiency improvements achieved in recent years and the good service business, along with the high capacity utilization. This was also due in particular to the contributions of our employees, who mastered all the challenges with great flexibility.”

“We observe that the steadying of demand in the business with furniture manufacturers, which has been expected for some time, is occurring,” says Dr. Schmitt, summarizing further expectations. “However, we do not expect a slump, but a normalization at a high level. In our business with production technology for timber house construction, we expect the growth momentum to continue in view of the trend towards the construction of prefabricated climate-friendly timber houses.”

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