The Homag Group increased sales by 10% in the Q1 2023. As expected, order intake weakened in the Q1 2023 after two exceptionally strong years.
Order intake amounted to Euro 353 million (previous year: Euro 574 million) in the Q1 2023. “We anticipated this slowdown in order intake,” emphasized CEO Dr. Daniel Schmitt. “We look back on two years of exceptionally high investments by our customers – with an absolute record level in the Q1 2022. We have seen a normalization of orders since mid-2022. It is encouraging, however, that order intake in the first three months of 2023 is above the level of the subdued Q4 2022.” The order backlog decreased to Euro 1,036 million as of March 31, 2023, but remains at a high level.
As a result of this high order backlog, Homag Group sales rose by 10% to Euro 404 million, compared to Euro 367 million in Q1 2022.
At Euro 27.0 million, EBIT before special items was slightly above the previous year’s level of Euro 26.8 million. It includes, among other things, increased expenditure on research and development for new product innovations that will be presented at the industry’s leading trade fair, LIGNA.
The Homag Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops.
