GERMANY - In the first quarter of 2021, the Homag Group’s order intake increased significantly by 48.5 percent to EUR 448.1 million (1Q-2020: EUR 301.7 million).

Sales increased by 6.7 percent to EUR 309 million (1Q-2020: EUR 289.6 million). As a result of the sharp growth in orders, the order backlog at March 31, 2021, was EUR 719 million, significantly higher than the figure at the previous year’s reporting date (1Q-2020: EUR 556 million), also reaching a record level.

“The positive trend of the last months of 2020 has continued in the first quarter of 2021, even though margin quality has not yet reached pre-crisis levels,” emphasizes CEO Ralf W. Dieter. “It is now clear that the furniture industry is back in an investment cycle after two weaker years.” The Homag Group benefited above all from strong demand in the single machine business and growth in service.

As of March 31, 2021, the company had 6,948 employees (March 31, 2020: 6,613). As a result of the acquisition of Homag China Golden Field and System TM in Denmark, approximately 550 new employees have joined the Group.

“We continue to work intensively on optimizing processes and structures and our product range,” explains Dieter. “For example, it is paying off that we have launched several new machines and systems, thus increasing the attractiveness of our product range.” The Homag Group is benefiting from the increase in home furniture purchases during the corona pandemic, which is boosting demand among Homag customers. “The prospects for a successful fiscal year 2021 are very good, which is why we expect growth in order intake, sales and EBIT margin,” Dieter adds.