GERMANY - Homag sales were up 10.1 percent in the first quarter of 2023 (1Q-2023). As expected, order intake weakened considerably in the 1Q-2023 after two exceptionally strong years.

Order intake amounted to EUR 353 million in the 1Q-2023 (1Q-2022: EUR 574 million). “We anticipated this slowdown in order intake,” emphasized CEO Dr. Daniel Schmitt. “We look back on two years of exceptionally high investments by our customers – with an absolute record level in the first quarter of 2022. We have seen a normalization of orders since mid-2022. It is encouraging, however, that order intake in the first three months of 2023 is above the level of the subdued fourth quarter of 2022.” The order backlog decreased to EUR 1,036 million as of March 31, 2023 (March 31, 2022: EUR 1,213 million), but remains at a high level.

As a result of this high order backlog, Homag Group sales rose by 10.1 percent to EUR 403.8 million (1Q-2022: EUR 366.8 million). At EUR 27.0 million, EBIT before special items was slightly above the previous year’s level (EUR 26.8 million). It includes, among other things, increased expenditure on research and development for new product innovations that will be presented at the industry’s leading trade fair, Ligna. As of March 31, 2023, the Homag Group had 7,570 employees (March 31, 2022: 7,274).

“We are now very much looking forward to the personal encounters at Ligna in Hanover, which starts on Monday,” says Dr. Schmitt. “That is where we want to impress customers with our innovations, our service, and our unique offering.”