DGAP-News: HOMAG Group follows up on positive development
(firmenpresse) - DGAP-News: Homag Group AG / Key word(s): Quarter Results
HOMAG Group follows up on positive development
13.05.2011 / 07:08
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- Increase in order intake of 13 percent in first quarter of 2011
- Further improvement in results of operations and profitability
- Annual forecasts for 2011 confirmed
Schopfloch, May 13, 2011. HOMAG Group AG got off to a good start in fiscal
2011 and registered strong demand for its products in the first quarter.
The global leader for plant and machinery for the woodworking industry and
cabinet shops, which is listed on the SDAX, thus saw its order intake climb
13 percent to EUR 187.8 million compared to the prior-year quarter (EUR
165.6 million). As a result, order backlog climbed 9 percent to EUR 218.5
million as of March 31, 2011 (prior year: EUR 200.5 million), and indeed
exceeded the level as of year-end 2010 by 46 percent (EUR 149.3 million).
The low order backlog at that time resulted from the high number of
deliveries in the fourth quarter of 2010 and, according to the management
board, is also the reason for the moderate revenue growth of 6 percent in
the first three months of 2011 to EUR 175.6 million as had been expected
(prior year: EUR 165.0 million).
CEO Rolf Knoll is satisfied with the start to the year and believes the
HOMAG Group is still firmly on track, also in light of the successful
fiscal 2010. 'In the first quarter, we were able to tap the opportunities
afforded by the market and further strengthen our leading position.
Customers trust our outstanding system and plant competence as is
demonstrated by a series of orders in the project business.'
According to the CFO Hans-Dieter Schumacher, the results of operations have
developed somewhat better than expected, '... with increases across all of
our key earnings indicators and a slight improvement in profitability in
the first three months of 2011.' Before the result from employee
participation (EUR -1.1 million; prior year: EUR -0.5 million) EBITDA rose
in the first three months of 2011 to EUR 14.2 million (prior year: EUR 12.4
million), EBIT to EUR 6.9 million (prior year: EUR 5.2 million) and EBT to
EUR 4.5 million (prior year: EUR 3.3 million). The net profit for the
period after non-controlling interests came to EUR 1.5 million (prior year:
EUR 1.2 million), and leads to earnings per share of EUR 0.10 (prior year:
EUR 0.08).
The number of employees in the HOMAG Group increased to 5,071 as of March
31, 2011, compared to the 5,051 workers employed as of year-end 2010 and
the 4,956 employed as of March 31, 2010. For the most part, the increase
reflected hiring activities at the foreign production companies in China
and Poland and at the foreign sales companies HOMAG South America and HOMAG
Asia.
Outlook
In the second and third quarters of 2011, the HOMAG Group's management
board anticipates sales revenue to rise compared to the first three months
of the year based on the speed at which the order backlog rose again at the
end of March. The results of operations are likewise expected to improve
further in the current quarter despite an extraordinary burden on earnings
from the project to restructure the subsidiary BÜTFERING and the cost of
participating in the Ligna trade fair. Rolf Knoll looks forward to the
industry's leading trade fair with optimism, even though he anticipates
that there might be some spending reluctance in the run up to it: 'We are
again able present to our customers numerous product innovations and
enhancements and expect positive impulses, especially in European markets,
which should be reflected in a healthy post-trade-fair business, especially
in the second half of 2011.'
After closing the first quarter, the management board confirms all of the
forecasts made to date for the full year 2011. Subject to the caveats that
continue to apply as regards there being no major setbacks to global
economic development, the Group aims to generate at least a
mid-single-digit percentage increase in sales revenue and also generate
moderate growth in order intake compared to 2010. It also intends to
significantly increase its net profit and operating result (EBITDA before
employee participation) slightly more than the targeted sales revenue
growth.
Moreover, the management board has reiterated the objective it had already
announced in the past for the HOMAG Group to gradually approach its
pre-crisis figures. 'From a current perspective, we believe it is possible
to achieve this objective from 2013 onwards,' says CEO Knoll.
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Background information
With its 16 specialized production companies worldwide, 21 group-owned
sales and service companies and approximately 60 exclusive sales partners,
HOMAG Group AG's market position is excellent and its portfolio as a
comprehensive system supplier and technology partner makes it unique.
Backed by a workforce of some 5,000 employees, the company sees itself as
the leading global manufacturer for plants and machinery for the
woodworking and wood materials industry for the production of furniture and
construction elements as well as timber frame houses. The group also offers
its customers a wide range of services in related areas for production
machines and equipment. HOMAG Group AG shares have been trading on the
Prime Standard of the Frankfurt Stock Exchange since July 13, 2007 and were
listed on the SDAX of the German Stock Exchange on October 2007.
Disclaimers
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.
Information:
HOMAG Group AG
Investor Relations
Simone Mueller
Phone: +49 7443 13-2034
simone.mueller(at)homag-group.com
www.homag-group.com
End of Corporate News
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Language: English
Company: Homag Group AGHomagstr. 3-5
72296 Schopfloch
Deutschland
Phone: +49 (0)7443 / 13 - 0
Fax: +49 (0)7443 / 13 - 2300
E-mail: info(at)homag-group.de
Internet: www.homag-group.de
ISIN: DE0005297204
WKN: 529720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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124487 13.05.2011
Datum: 13.05.2011 - 07:08 Uhr
Sprache: Deutsch
News-ID 34086
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Kategorie:
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