Aug 13, 2010. /Lesprom Network/. The continuing good level of capacity utilization at HOMAG Group AG, the manufacturer of machinery and plant for the woodworking industry resulted in a positive second quarter of 2010, company said in a statement received by Lesprom Network. The fact that sales revenue rose by just under 50% to Euro 181 million (prior year: Euro 122 million). The company, which is listed on the SDAX share index, also saw a significant rise in order intake for its own machines and modifications to Euro 134 million (prior year: Euro 101 million) and a corresponding increase in its order backlog to Euro 200 million (prior year: Euro 161 million). CEO Rolf Knoll attributes the improvement in the order situation to a return to increasing demand for flexible, high-performance production systems, innovative products as well as to the HOMAG Group’s global presence, especially in the important growth markets in Asia and South America. "The second quarter confirmed that we have recovered quickly and sustainably from the massive setback caused by the economic crisis and have returned to the course for success,” Mr. Knoll said. This is also demonstrated by the pre-tax result, which was once again positive for the period between April and June, contrary to our forecast, even reaching a level in excess of the first quarter of 2010 despite higher interest expenses and the costs relating to trade fairs. EBITDA before the once again low extraordinary expense of EUR 0.6 million for restructuring measures/non-recurring effects and before the result from employee participation, amounts to EUR 15.0 million (prior year: EUR 3.2 million), while EBT on the same basis comes to EUR 5.2 million (prior year: EUR -5.1 million). The net profit for the period after minority interests improved to EUR 1.6 million (prior year: EUR -7.7 million), and leads to earnings per share of EUR 0.10 (prior year: EUR -0.50). According to CFO Andreas Hermann, the reasons for the sustainable return to positive operating results can be found in the increased volume of business in connection with the restructuring measures implemented. Staffing developments within the group in the second quarter of 2010 also reflect the HOMAG Group’s upward trend. For example, while headcount as of June 30, 2010 had fallen in comparison to the prior year to 4,963 employees (prior year: 5,136 employees), it had risen slightly in comparison to the end of 2009 (4,954 employees). The company had 95 temporary workers again as of the end of the second quarter. First six months of 2010 A comparison of the first six months of 2010 to the first half of the prior year highlights the HOMAG Group’s positive development even more clearly – especially as the first half of 2009 was heavily influenced by the economic crisis. For example, sales revenue in this period grew by 44 percent to Euro 346 million (prior year: Euro 241 million) and order intake expanded by 71 percent to Euro 300 million (prior year: Euro 176 million). The earnings figures evidence the sustained return to profitability. For the first half of 2010, EBITDA before extraordinary expenses and before the result from employee participation came to Euro 27.7 million (prior year: Euro -0.5 million) and EBT on the same basis came to Euro 8.8 million (prior year: Euro -17.6 million). The net profit for the period after minority interests improved to Euro 2.8 million (prior year: Euro -18.8 million), and leads to earnings per share of Euro 0.18 (prior year: Euro -1.20). Outlook After the excellent first half of 2010, which also brought about a corresponding high order backlog by mid-year, the management board looks optimistically to the future and has increased its sales revenue forecast for 2010. After having anticipated sales revenue of Euro 600 million at the beginning of the year and having thought Euro 620 million conceivable at the end of the first quarter, the management board now anticipates sales revenue in excess of Euro 650 million for 2010. The order intake of the HOMAG Group has returned to the customary seasonality with figures declining as the year progresses. "We do, however, anticipate an increase somewhere around 20% over the year seen as a whole,” said Rolf Knoll. The HOMAG Group also anticipates positive pre-tax results in each of the last two quarters and still expects a small profit for the year 2010. Despite the anticipated sales revenue growth, the management board has not made any changes to its cautious earnings forecast.