GERMANY – The Homag Group’s sales declined 14.1% in the 1Q-2024 due to last year’s significant drop in demand.
Order intake rose 7% to EUR 377 million, but the order backlog decreased to 871 million euros as of March 31, 2024.
The decline in 2023’s order intake affected Q1 2024 sales, which fell 14% to EUR 347 million . This led to a drop in EBIT before extraordinary effects to EUR 10.8 million.
“This decline matches our forecasts,” Dr. Schmitt noted. “To boost profitability, we implemented measures to adjust capacity and increase efficiency in November 2023. These efforts aim to position the Homag Group for future profitable growth.”
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