HOMAG Group AG reported group earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported sales revenue of EUR 225.8 million compared to EUR 195.3 million a year ago. Operative EBITDA was EUR 20.9 million compared to EUR 13.7 million a year ago. Net profit for the period (after non-controlling interests) was EUR 4.9 million compared to EUR 2.2 million a year ago. Earnings per share were EUR 0.13 compared to EUR 0.14 per share a year ago.

For the six months period, the sales revenue rose by almost 16% to EUR 430.5 million compared to EUR 372.0 million a year ago. Operative EBITDA before employee profit participation expenses and before extraordinary expenses rose by 41% to EUR 38.3 million compared to EUR 27.1 million a year ago. The net profit for the period after non-controlling interests improved by around 82% to EUR 7.4 million compared to EUR 4.1 million a year ago, and leads to earnings per share of EUR 0.47 compared to EUR 0.26 a year ago.

The company provided earnings guidance for the year 2014. For the year, the company expects group sales revenue is budgeted to increase to between EUR 860 million and EUR 880 million in 2014. Operative EBITDA before employee profit participation expenses and before extraordinary expenses is expected to range between EUR 82 million and EUR 84 million in 2014 and the Group to return a net profit for the year ranging between EUR 20 million and EUR 22 million. The company anticipates that the full consolidation of Stiles will have a slightly negative impact on these two earnings indicators in 2014 as the consolidation and purchase price allocation effects together with the acquisition-related costs at Stiles are expected to slightly exceed the additional contribution to profit.