HOMAG Group has released their sales revenue and earnings for the first nine months of 2022, recording an increase in both areas.
In the first three quarters, HOMAG Group’s order intake increased again slightly year-on-year by 4% to €1,418m from €1,367m. Demand was particularly strong in North America, where the HOMAG Group was able to grow by around 50%. However, due to a high order intake, the order backlog increased to €1,256m as of 30 Sep 2022.
“When comparing order intake with the previous year, it must always be taken into account that 2021 was an outstanding year in terms of orders,” explained Dr Daniel Schmitt, CEO of HOMAG Group. “The fact that we are back at this very high level in the current fiscal year is a great success.”
Sales for the group also increased by 20% from €1,000m to €1,195m, and the group’s EBIT increased by 38% to €92.4m.
Dr Schmitt commented: “The fact that we were able to increase our earnings so significantly despite the additional expenses due to supply chain problems is mainly due to the efficiency improvements achieved in recent years and the good service business, along with the high capacity utilisation. This was also due in particular to the contributions of our employees, who mastered all the challenges with great flexibility.”
He added: “We observe that the steadying of demand in the business with furniture manufacturers, which has been expected for some time, is occurring. However, we do not expect a slump, but a normalisation at a high level.
“In our business with production technology for timber house construction, we expect the growth momentum to continue in view of the trend towards the construction of prefabricated climate-friendly timber houses.”