A member of the Dürr Group, the company's sales revenue increased by about 16% to Euro 914.8 million based on preliminary figures. Somewhat more than half of the growth is attributable to the US sales and service company Stiles Machinery, Inc., which the Homag Group had acquired at the beginning of 2014.
Order intake, which is not affected by the Stiles acquisition, climbed 9.3% to Euro 802.6 million. At Euro 307.3 million as of December 31, 2014, the Group closed the year with a record order backlog (prior year: Euro 207.6 million).
“We have resolutely remained on our course for growth in 2014 and gained additional market shares,” CEO Ralph Heuwing emphasizes. “We were also able to significantly improve our operative results of operations, although we continue to see potential here that can be captured in the years ahead.”
Outpacing sales revenue growth, operative EBITDA before employee participation expenses and before extraordinary expenses of the Homag Group rose 23% to Euro 93.2 million. Net profit after non-controlling interests increased slightly to Euro 18.9 million. Net profit was burdened by some special effects, mainly attributable to the Stiles acquisition.
“Our positive business development and our good operative results of operations in fiscal year 2014 are reflected in the substantial reduction in net liabilities to banks”, CFO Hans-Dieter Schumacher emphasizes.
This had decreased as of December 31, 2014 by about 59% to Euro 28.5 million, despite the cash outflow for the Stiles acquisition, increased investment and the larger dividends distributed.
The detailed results of the fiscal year 2014 of the Homag Group together with an updated forecast for 2015 will be published on March 31, 2015.
Homag Group AG engages in the manufacture of plant and machinery for the woodworking industry and for cabinet makers.
