GERMANY – Dürr AG has increased its share in Homag Group AG by 8% and now holds 63.9% of the capital of the global market leader for woodworking machinery.

Dürr has acquired the additional shares from the Schuler-Klessmann shareholder group. Most of the 8% share package was acquired by exercising a call option for 7.05% of Homag Group’s share capital

The call option had been agreed in 2014 between Dürr and the Schuler-Klessmann shareholder group. The purchase price of the 1,255,040 Homag shares stands at € 34.8 million, equivalent to an average of € 27.73 per share. 

Dürr had acquired 55.9% of the shares in Homag Group AG for € 228.1 million in October 2014. Following the sale of the 8% package, the Schuler-Klessmann shareholder group still holds 14.1% of Homag’s capital. A pooling agreement is in force between Dürr and the shareholder group, providing for both parties to exercise their voting rights jointly at Homag’s annual general meeting to ensure a three-quarters majority where necessary. 

Ralf W. Dieter, CEO of Dürr AG: “Homag made a significant contribution to earnings in 2017 and is continuing to grow substantially, constituting a major pillar within the Dürr Group.” 

Since 2014, the Homag Group’s EBIT has risen by an average of 37% per year. In the record year of 2017, the Homag Group’s order intake increased by 17% to € 1.36 billion. This year, it is targeting new orders of up to € 1.5 billion. Homag’s operating EBIT rose to € 94.4 million in 2017 on sales of € 1.22 billion.