Homag Group: improvement in the third quarter

In the third quarter of 2020, the Homag Group recorded a significant improvement in incoming orders (+ 43 per cent) and an economic recovery compared to the second quarter of 2020. Nevertheless, the nine-month figures are also characterized by the corona pandemic.

“Like the entire mechanical engineering sector, we are still feeling the effects of the corona pandemic“, explains the chairman of the board, Pekka Paasivaara. “In the third quarter, however, incoming orders recovered noticeably. Whether this positive development will continue in the long term depends very much on the further global course of the pandemic“.

In the first nine months of 2020 overall, the Homag Group’s sales fell by 13 percent to 833 million euros (previous year: 957 million euros) and incoming orders by 16 percent to 763 million euros (previous year: 907 million euros). The order backlog as of September 30, 2020 was 461 million euros (December 31, 2019: 546 million euros). In the first three quarters of 2020, the Homag Group achieved an operating Ebit of Eur 20.8 million (previous year: Eur 58.5 million). As of September 30, 2020, 6,482 people were employed (September 30, 2019: 6,615).

According to Paasivaara, business development in the various market regions is different. “We are seeing a recovery particularly in China and in Northern and Eastern Europe. The trend is also positive in other regions, although we are still below pre-crisis levels there“.