HOMAG : Fiscal year 2022 of the HOMAG Group - Record levels of sales and earnings

02/23/2023

Schopfloch, February 23, 2023. The HOMAG Group reports a successful fiscal year 2022, in which the company achieved new record levels of sales and earnings.

According to preliminary figures, the HOMAG Group's order intake of EUR 1,706 million matched the record level of the previous year (EUR 1,713 million). "We therefore look back on the second year in a row with an exceptionally high level of order intake," emphasizes CEO Dr. Daniel Schmitt. "We are almost 30 percent above previous record levels here." The HOMAG Group recorded particularly high demand in North America in the 2022 fiscal year, with an increase of around 45 percent. The order book increased to EUR 1,102 million as at December 31, 2022 (previous year: EUR 996 million).

An increase in sales by 17 percent to EUR 1,602 million (previous year: EUR 1,366 million) represents a new record level in the company's history. EBIT before special items increased by 36 percent to EUR 124.8 million (previous year: EUR 92.0 million) and is thus also at an all-time high despite the difficult supply chain situation and high material prices. Dr. Daniel Schmitt attributes the increase in earnings in particular to the high capacity utilization as well as to the efficiency improvements of recent years, and a growing service business. As of December 31, 2022, the number of employees in the company had increased to 7,525 (12/31/2021: 7,164) as a result of the growth.

"In the furniture production sector, demand was once again exceptionally high in the first half of the year and subsequently declined as expected," said Dr. Schmitt, summarizing the course of the fiscal year. "The business with production equipment for climate-friendly timber houses continues to develop positively, with its share of sales increasing to almost 15 percent."

The HOMAG Group continues to see good prospects for growth especially in the area of timber construction, which is mainly due to the trend towards sustainable construction. Commenting on the outlook for 2023, Dr. Daniel Schmitt says: "Due to the declining demand in the furniture sector, we expect order intake to normalize in the current fiscal year after the two outstanding previous years." In terms of sales and profit, the HOMAG CEO expects the positive development to continue: "We have a high order backlog. On this basis, we aim to achieve further growth in sales and earnings in 2023."

Company Background
The HOMAG Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 14 specialized production sites, about 20 Group-owned sales and service companies and approximately 60 exclusive sales partners worldwide make the company a unique system provider. Backed by a workforce of some 7,000 employees the HOMAG Group offers its customers solutions for digitized production, based on digital data continuity from point of sale through the entire production process, combined with a comprehensive software suite. In addition, the open ecosystem "tapio" (open Internet-of-Things platform) maps the data flow along the entire value chain of the timber industry. The HOMAG Group has been majority-owned by the Dürr Group since October 2014.

Disclaimer
This press release contains certain statements relating to the future. Future oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as "believes", "estimates", "assumes", "forecasts", "intend", "may", "will", "should" or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this press release, it cannot be guaranteed that the same will hold true in the future.