GERMANY - In the third quarter of 2020, Homag Group recorded a significant improvement in order intake (+41%) and an economic recovery compared to the second quarter of 2020. Nevertheless, the nine-month figures are also affected by the coronavirus pandemic.
“Like the entire machinery industry, we are still noticing the effects of the Coronavirus pandemic,” explains CEO Pekka Paasivaara. “However, incoming orders recovered significantly in the third quarter. The further course of the pandemic will determine whether this positive development will continue”.
In the first nine months of 2020, Homag Group's sales revenues fell by 13 percent to EUR 833 million (9M-2019: EUR 957 million) and order intake by 16 percent to EUR 763 million (9M-2019: EUR 907 million).
In the first three quarters of 2020, the Homag Group generated operating EBIT of EUR 8.4 million (prior year: EUR 52.0 million). As of September 30, 2020, the Group employed 6,482 people (September 30, 2019: 6,615).
According to Paasivaara, business developed differently in the global market regions: “We see a recovery especially in China and in Northern and Eastern Europe. The trend is also positive in other regions, although there we are still below pre-crisis levels”.
The Homag Group is the world’s leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 14 specialized production sites, about 20 Group-owned sales and service companies and approximately 60 exclusive sales partners worldwide make the company a unique system provider. Backed by a workforce of some 6,600 employees the HOMAG Group offers its customers solutions for digitized production, based on digital data continuity from point of sale through the entire production process, combined with a comprehensive software suite. In addition, the open ecosystem "tapio" (open Internet-of-Things platform) maps the data flow along the entire value chain of the timber industry. The Homag Group has been majority-owned by the Dürr Group since October 2014.
