The Homag Group's order intake fell by 9% to € 939 million in the first nine months (previous year: € 1.03 billion). "In addition to the already subdued market environment in the furniture sector, there was uncertainty as a result of the turbulence in trade policy. Against this backdrop, investment projects by customers in the furniture industry were increasingly postponed," explains CEO Dr. Daniel Schmitt. "In contrast, the upward trend continued in production facilities for timber house construction. After subdued years during the construction crisis, more and more smaller and larger projects are being awarded here again."
Sales in the first three quarters fell slightly to just under €1.03 billion (previous year: €1.06 billion). Nevertheless, Homag was able to improve EBIT before special items by 53% to € 53.6 million (previous year: € 35 million). This positive earnings development is primarily attributable to cost reductions due to the personnel measures implemented. The slight growth in the service business also had a positive effect.
"We have significantly increased our earnings resilience and are thus able to compensate much better for the consequences of the market weakness. Homag has become more robust and has good prerequisites for profitable growth again if demand picks up," says Schmitt. The number of employees was reduced to 6,579 as of September 30 (30/09/2024: 6,875).
