{"id":16075,"date":"2024-03-08T13:48:57","date_gmt":"2024-03-08T12:48:57","guid":{"rendered":"https:\/\/www.xylon.it\/2024\/03\/08\/homag-fatturato-record-nel-2023-ma-cala-il-portafoglio-ordini\/"},"modified":"2025-03-14T13:15:26","modified_gmt":"2025-03-14T12:15:26","slug":"homag-fatturato-record-nel-2023-ma-cala-il-portafoglio-ordini","status":"publish","type":"post","link":"https:\/\/www.xylon.it\/en\/2024\/03\/08\/homag-fatturato-record-nel-2023-ma-cala-il-portafoglio-ordini\/","title":{"rendered":"Homag: record turnover in 2023, but orders fall"},"content":{"rendered":"<p>According to preliminary figures released by the group, <strong>Homag<\/strong> increased its turnover in 2023 to <strong>EUR 1,625 million<\/strong> (previous year: EUR 1,602 million) from the very high figure of the previous year. &#8220;<em>We benefited from the high order backlog at the beginning of the year, which we gradually disposed of<\/em>. <em>The service sector also recorded growth<\/em>,&#8217; explained CEO <strong>Daniel Schmitt<\/strong>. While turnover increased, the order backlog consequently decreased to EUR 841 million as at 31 December 2023 (31 December 2022: EUR 1,102 million).<\/p>\n<p>The slight increase in turnover is also reflected in the profit before special effects, which increased by about four per cent to EUR 129.7 million (previous year: EUR 124.8 million). The group attributes this increase, among other things, to efficiency improvements achieved in previous years and cost reductions in response to the market downturn.<\/p>\n<p>Despite a major order from China at the end of the year, orders for 2023 decreased significantly by around 18 per cent to <strong>EUR 1,395 million<\/strong> (previous year: EUR 1,706 million) compared to the previous year, which was still characterised by the particular economic situation in the furniture industry due to the pandemic. &#8220;<em>We are dealing with a marked cyclical weakness in the market, which has resulted in a sharp drop in orders<\/em>,&#8221; Schmitt continues. &#8216;We<em>expected a slowdown in the furniture sector, but hoped for a better performance in the wooden house sector<\/em>. <em>The sharp rise in interest rates has led to a crisis in the construction industry, which has significantly slowed down investments in the production technology of timber construction elements<\/em>.&#8221;<\/p>\n<p>&#8220;The<em>Homag<\/em> Group,&#8221; the group explained in the press release, &#8221; <em>reacted to the weakness in orders in November 2023 with a package of capacity adjustment measures to avoid losses in the current year<\/em>. <em>The key element is the <strong>reduction of around 600<\/strong> jobs worldwide in order to reduce fixed costs by EUR 25 million initially and by a total of EUR 50 million annually from 2025 onwards.<\/em> <em>Extraordinary expenses for this amounted to just over EUR 50 million and were largely accounted for in Q4 2023.<\/em> As a <em>result, EBIT after extraordinary effects fell to EUR 71.1 million (previous year: EUR 107.5 million)<\/em>.&#8221;<\/p>\n<p>&#8220;We do<em>not expect a general market recovery before the end of 2024 and, in the current outlook, we expect order intake in the current fiscal year to be at most at the previous year&#8217;s level<\/em>,&#8221; Schmitt concludes. &#8220;<em>Due to the continued weakness in orders, we anticipate a sharp decline in sales and earnings<\/em>. <em>Our capacity adjustment measures aim to sustainably increase our flexibility, so that future market fluctuations will have less of an impact on profits.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to preliminary figures released by the group, Homag increased its turnover in 2023 to EUR 1,625 million (previous year: EUR 1,602 million) from the very high figure of the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1324,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-16075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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