In the 3Q 2020, Homag Group recorded a significant improvement in order intake (+41%) and an economic recovery compared to the 2Q 2020. Nevertheless, the nine-month figures are also affected by the corona pandemic.
"Like the entire machinery industry, we are still noticing the effects of the corona pandemic," explains CEO Pekka Paasivaara. "However, incoming orders recovered significantly in the 3Q. 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% to Euro 833 million, compared to Euro 957 million in last year, and order intake by 16% to Euro 763 million. The order backlog as of September 30, 2020 was Euro 461 million (December 31, 2019: Euro 546 million). In the first three quarters of 2020, the Homag Group generated operating EBIT of Euro 20.8 million, compared to Euro 58.5 million in last year.
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.
