Sales up in the first quarter of 2023

The Homag Group increased its sales revenue by 10 percent in the first quarter of 2023. Order intake weakened as expected in the first quarter of 2023 after two exceptionally strong years.

Order intake in the first quarter of 2023 was 353 million euros (previous year: 574 million euros). “We expected this slowdown in order intake,” said CEO Dr. Daniel Schmitt. “We look back on two years of extraordinarily high investments by our customers – with the absolute record value in the first quarter of 2022. Since mid-2022, we have seen a normalization of orders. However, it is encouraging that order intake in the first three months of 2023 is above the value of the subdued fourth quarter of 2022.” The order backlog decreased to 1,036 million euros at March 31, 2023 (March 31, 2022: 1,213 million euros), but remains at a high level.

Due to this high order backlog, the Homag Group’s sales revenue increased by 10 percent to EUR 404 million (prior year: EUR 367 million). At €27.0 million, EBIT before special items was slightly up on the previous year (€26.8 million). Among other things, it includes increased expenditure on research and development for new product innovations that will be presented at the industry’s leading trade show, LIGNA. As of March 31, 2023, there were 7,570 employees.