The Homag Group outpaces the industry

Germany (Notifix).- The Homag Group's order intake for the first nine months of 2010 has exceeded the level of full-year 2009. Furthermore liquidity rises substantially in the third quarter of 2010 and announces heavy investment in future markets and further growth for 2011. Between July and September 2010, order intake climbed to EUR 136 million (prior year: EUR 107 million). In the third quarter of 2010 sales revenue was up 26 percent to EUR 171 million (prior year: EUR 135 million). CEO Rolf Knoll sees the good third quarter as confirmation that "the current fiscal year has served to secure the recovery from the crisis." Apart from the successfully implemented cost improvement program, he attributes the above-trend development compared to the industry mainly to the broad and innovative product portfolio as well as the HOMAG Group's global presence. CEO Knoll looks ahead to the coming year with optimism, and aims to ratchet up sales revenue above the EUR 700 million mark, while raising earnings even faster. The growth markets are expected to contribute to the positive trend. Indeed, in October the supervisory board approved an investment package of EUR 8 million for the period up to 2011 as proposed by the management.

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