World’s largest woodworking machinery maker reports record annual results24 February 2022
The world’s largest woodworking machinery manufacturer Homag Group achieved the highest order intake in its history in the fiscal year 2021.
Germany-based Homag said sales and profits increased significantly compared to the previous year.
In addition to high demand in the furniture industry, growing business in production equipment for the construction of sustainable timber houses also contributed to this success.
Preliminary figures show that Homag’s 2021 order intake rose by almost 60% to €1.74bn over the previous year (2020: €1.09bn), which had been heavily influenced by the coronavirus pandemic.
“The fact that we exceeded the previous record order intake achieved in 2017 by around 28% reflects last year’s exceptionally strong demand,” emphasised Homag CEO Dr Daniel Schmitt.
“This success is all the more impressive given that the underlying conditions were not easy due to the restrictions caused by the coronavirus pandemic. This demonstrates the great commitment of our employees worldwide.”
Sales improved by 25% to €1.38bn, while profits before interest and tax (EBIT) increased more than three-fold to €92.1m.
“In 2021, we performed very well in all regions worldwide, benefiting from the high level of investment in the furniture industry,” explained Dr Schmitt.
With the acquisition of the Danish companies System TM in 2020 and Kallesoe last year, the HOMAG Group has significantly expanded its activities in timber construction. Together with its subsidiary Weinmann, which is active in timber house construction, Homag Group is positioning itself to offer several technologies from a single source as a system supplier. “This segment made an important contribution to our success in 2021,” added Dr Schmitt.
“Climate-friendly timber construction is currently experiencing a boom and we are very well positioned in this growth market.”
With a high order backlog, Homag expects a good performance in 2022, although it expects order intake to return to normal after the exceptional performance in 2021.