Photo: HOMAG Group
The HOMAG Group has reported a successful year of strong growth – both in sales and earnings - for 2022.
According to preliminary figures, the HOMAG Group’s order intake of 1.7 billion euro matched the record level of the previous year.
Thanks to those strong results, we are looking at a second consecutive year of exceptionally high orders said CEO Dr. Daniel Schmitt.
“We are almost 30 per cent above previous record levels.”
The HOMAG Group recorded particularly high demand in North America in 2022, with an increase of around 45 per cent. The order book increased to 1.1 billion as of Dec. 31, 2022 (previous year: 996 million euro).
An increase in sales by 17 percent to 1.6 billion (previous year: 1.36 billion) represents a new record level in the company’s history.
EBIT before special items increased by 36 per cent to 124.8 million euro (previous year: 92.0 million euro) also at an all-time high despite the difficult supply chain situation and high material prices.
Schmitt attributes the increase in earnings in particular to the high capacity utilization as well as to the efficiency improvements of recent years, and a growing service business. As of Dec. 31, the number of employees in the company had increased to 7,525 as a result of that growth.
“In the furniture production sector, demand was once again exceptionally high in the first half of the year and subsequently declined as expected,” said Schmitt, summarizing the course of the fiscal year.
“The business with production equipment for climate-friendly timber houses continues to develop positively, with its share of sales increasing to almost 15 per cent.”
The HOMAG Group continues to see good prospects for growth especially in the area of timber construction, which is mainly due to the trend towards sustainable construction. Commenting on the outlook for 2023, Schmitt says: “Due to the declining demand in the furniture sector, we expect order intake to normalize in the current fiscal year after the two outstanding previous years.” In terms of sales and profit, the he expects the positive development to continue: “We have a high order backlog. On this basis, we aim to achieve further growth in sales and earnings in 2023.”
The HOMAG Group is a world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. The HOMAG Group has been majority-owned by the Dürr Group since October 2014.