The Homag Group slightly increased its sales revenues to Euro 957 million in the first three quarters of 2019, compared to Euro 937 million in the first nine months of 2018. At Euro 907 million, order intake was below the high level of the prior year (Euro 1,047 million) and the order backlog was Euro 560 million as of September 30, 2019. Operating EBIT fell to Euro 58.5 million, as the company said in the press release received by Lesprom Network.
The key reasons for this were falling margins as a result of the decreasing market volume, under-utilization and increasing personnel costs.
“Our customers' reluctance to invest is naturally noticeable in order intake this year,” explains CEO Pekka Paasivaara. “Particularly in China and also in Germany, demand is moderate.”
Homag Group AG is the world's leading supplier of integrated solutions for production in the woodworking industry and woodworking shops.
