Photo: HOMAG Group
The HOMAG Group saw a record number of orders in the first quarter of 2021.
The HOMAG Group got off to a strong start in 2021, with a new record for order intake in the first quarter. The number of orders increased equally strongly in all regions of the world.
In the first quarter of 2021, the HOMAG Group’s order intake increased significantly by 49 per cent to 448 million euro (previous year: 302 million euro).
Sales increased by seven per cent to 309 million euro (previous year: 290 million euro). As a result of the sharp growth in orders, the order backlog as of March 31, 2021, was 719 million euro, significantly higher than the figure at the previous year’s reporting date (March 31, 2020: 556 million euro), also reaching a record level.
The HOMAG Group generated an operating EBIT of 13.5 million euro (previous year: 16.1 million euro).
“The positive trend of the last months of 2020 has continued in the first quarter of 2021, even though margin quality has not yet reached pre-crisis levels,” says CEO Ralf W. Dieter. “It is now clear that the furniture industry is back in an investment cycle after two weaker years.”
The HOMAG Group benefited from strong demand in the single machine business and growth in service.
As of March 31, 2021, the company had 6,948 employees As a result of the acquisition of HOMAG China Golden Field and System TM in Denmark, approximately 550 new employees have joined the Group.
“We continue to work intensively on optimizing processes and structures and our product range,” Dieter says.
“For example, it is paying off that we have launched several new machines and systems, thus increasing the attractiveness of our product range.”
The HOMAG Group is benefiting from the increase in home furniture purchases during the corona pandemic, which is boosting demand among HOMAG customers.
“The prospects for a successful fiscal year 2021 are very good, which is why we expect growth in order intake, sales and EBIT margin,” Dieter adds.