CEO Dr. Markus Flik is satisfied: “This high order backlog reflects our good order intake in the first half of the year and gives us a sound basis for the second half of the year.”
Based on the current more modest propensity to invest, which is affecting the field of mechanical engineering as a whole, order intake decreased to Euro 148.6 million in the 2Q 2013 (prior year: Euro 156.6 million). By contrast, sales revenue at the Homag Group rose by 3.7% between April and June 2013 to Euro 195.3 million (prior year: Euro 188.3 million).
Operative EBITDA before employee profit participation expenses and before extraordinary expenses decreased to Euro 13.7 million (prior year: Euro 14.2 million), although the ratios of personnel expenses and cost of materials to total operating performance were both down.
CFO Hans-Dieter Schumacher explains this with the increase in other operating expenses of Euro 4.4 million. “Above all, this amount relates to trade fair costs for LIGNA, which is only held every second year.” Based on the significantly improved financial result and lower employee profit participation expenses, EBT after employee profit participation expenses and after extraordinary expenses improved to Euro 3.8 million (prior year: Euro 1.6 million). A further decrease in the tax expense ratio results in net profit for the period after non-controlling interests of Euro 2.2 million (prior year: Euro -0.2 million), and leads to earnings per share of Euro 0.14 (prior year: Euro -0.01).
The Group’s headcount decreased slightly to 5,019 as of June 30, 2013 compared to the prior year (5,038 employees).
At Euro 330.9 million, the Homag Group’s order intake improved slightly in the first half of 2013 contrary to the trend in the industry (prior year: Euro 327.2 million). Sales revenue decreased slightly to Euro 372 million in the first six months of 2013. Operative EBITDA before employee profit participation expenses and before extraordinary expenses decreased to Euro 27.1 million (prior year: Euro 30.9 million). EBT after employee profit participation expenses and after extraordinary expenses decreased to Euro 7.4 million (prior year: Euro 8.3 million). As a result of the improved tax rate, net profit for the period after non-controlling interests rose to Euro 4.1 million (prior year: Euro 3.0 million), leading to earnings per share of Euro 0.26 (prior year: Euro 0.19).
The management board confirms its forecasts so far for 2013. Subject to the condition that there are no major disruptions in the global economy, the Group aims to exceed the prior-year order intake figure in 2013 and generate sales revenue for the Group of around Euro 800 million. The Group anticipates an operative EBITDA before employee profit participation expenses and before extraordinary expenses of around Euro 75 million and expects to return a net profit of the Group for the year of around Euro 15 million.
Homag Group is the world’s leading manufacturer of plant and machinery for the woodworking industry and cabinet makers.