In the first six months of 2020, Homag Group's sales revenue dropped by 13% to Euro 552 million (prior year: Euro 637 million) and order intake by 17% to Euro 493 million (prior year: Euro 591 million). The order backlog as of June 30, 2020 stood at Euro 480 million (December 31, 2019: Euro 546 million).
In the first half of 2020, the Homag Group generated operating EBIT of Euro 10.7 million (prior year: Euro 39.4 million).
Thanks to stable supply chains, the Homag Group has been able to maintain production. However, customers have been very reluctant to invest.
Pekka Paasivaara: "Demand in the first half of the year was very moderate, particularly in the project business with large-scale plants. Although we are seeing the beginning of a recovery in customer activities, we are still far from the pre-crisis level. From today's perspective, we expect the market environment to improve slightly in the second half of the year. Nevertheless it remains difficult to predict the start of a real upturn."
The Homag Group is the world's leading supplier of integrated solutions for production in the woodworking industry and trade.
