GERMANY – The Homag Group can look back at 2017 as a successful financial year.

The world’s leading supplier of integrated solutions for production in the woodworking industry and woodworking shops substantially increased its incoming orders and sales, and further boosted its earnings. Preliminary figures show that the Homag Group’s sales were up 13 percent, reaching EUR 1,224 million and EBIT rose by 32 percent to EUR 94.4 million.

The Homag Group saw strong demand in its project business in networked systems for the production of furniture, flooring and doors. “Our end-to-end solutions with systems and software from a single source are unique in this industry”, emphasizes Homag CEO, Pekka Paasivaara. “Our customers appreciate how we can offer them innovative and sustainable products to support them on their journey into the digital age. One milestone is our open IoT platform tapio, which we established on the market in 2017.”

“Despite the increased investments in innovation and digitization, we were able to achieve the pleasing improvement in earnings,” explains CFO Franz Peter Matheis. “By standardizing our processes and systems, we have further increased our productivity. For this reason, the number of our employees increased only slightly, despite the significant increase in sales.”