GERMANY – In the third quarter of 2024, Homag Group reported a 12.2% increase in order intake, reaching EUR 332.7 million, compared to EUR 296.6 million in the same period of 2023.

However, sales declined by 13.8%, falling to EUR 349.5 million from EUR 405.5 million in the previous year. The group’s EBIT dropped significantly by 61.9%, down to EUR 12.0 million from EUR 31.5 million in the same quarter of 2023. Consequently, the EBIT margin also fell from 7.8% to 3.4%, a decrease of 4.3 percentage points.

“Although our order intake has slightly increased from a low level, we do not yet see an end to the market weakness,” says CEO Dr. Daniel Schmitt. “This is especially evident in the ongoing subdued demand for individual machines from the furniture industry, while the situation for large-scale projects is somewhat better, and the service business is experiencing slight growth despite the challenging environment.”

For the first nine months of 2024, order intake increased by 6.5%, reaching EUR 1,031.4 million compared to EUR 968.1 million in 2023. Sales decreased by 13.7%, from EUR 1,222.2 million to EUR 1,055.3 million. EBIT in the period fell by 64.1%, down to EUR 30.3 million from EUR 84.5 million in the previous year, and the EBIT margin declined from 6.9% to 2.9%, a drop of 4 percentage points.