GERMANY - The Homag Group, the world's leading manufacturer of machinery and systems for the woodworking industry and carpenters, continued to grow in the 2016 financial year.

The company increased its incoming orders in 2016 by around 10 percent to € 1,165 million (previous year: € 1,058 million). Sales revenue were up by a good 4 percent, reaching € 1,082 million (previous year: € 1,039 million). Operating EBIT rose by 13 percent to € 71 million (previous year: € 63 million) and thus at a faster rate than sales revenue. As at December 31, 2016, the Homag Group had 6,126 employees (previous year: 5,906).

 "We were very successful in the last financial year, especially in China, Central Europe and North America", explains CEO Pekka Paasivaara. "Our good business performance, with incoming orders growing at a double-digit rate, is all the more remarkable given the extensive change process we underwent in 2016. As the leading provider of solutions for the woodworking industry, we are well positioned for our expected future growth, and we want to continue to increase our market share. We made excellent progress throughout this change process, which is also reflected in our increased profitability", emphasizes Paasivaara. "In addition, our R&D ratio was over four percent, which is considerably above the industry average. We want to maintain these high levels of investment in the development of new solutions to offer our customers ongoing innovations."

The Homag Group has also started the current financial year with dynamic, double-digit growth. Pekka Paasivaara is optimistic about the LIGNA trade fair, which takes place in Hannover in May 2017: "Here, we will pull out all the stops as a market and technology leader and impress our customers with numerous innovations." The Homag Group plans to continue its growth trajectory in 2017 and expects another increase in order intake, sales revenue and earnings.

Homag Group – Durr Woodworking Machinery Systems, Results

January – December. Million EUR