In the second quarter of 2020, the\u00a0Homag\u00a0Group was affected by the corona pandemic more strongly.<\/p>\n
Order intake and sales revenue decreased in the first half of 2020 (6M-2020). Since June, however, the Group has recorded a slight increase in customer activity in most countries.<\/p>\n
\u201cAs expected, the period of worldwide lockdowns has had an impact on our half-year figures\u201d,<\/em> says CEO Pekka Paasivaara<\/strong>. \u201cHowever, we are cautiously optimistic that the markets have bottomed out in the second quarter\u201d.<\/em><\/p>\n In the first six months of 2020, Homag Group\u2019s sales revenue<\/strong> dropped by 13.4 percent to EUR 552 million (prior year: EUR 637 million) and order intake<\/strong> by 16.5 percent to EUR 493 million (prior year: EUR 591 million). The order backlog as of June 30, 2020 stood at EUR 480 million (December 31, 2019: EUR 546 million). In the first half of 2020, the Homag Group generated operating EBIT of EUR 10.7 million (prior year: EUR 39.4 million). As of June 30, 2020, the Group employed 6,498 people (June 30, 2019: 6,592).<\/p>\n Thanks to stable supply chains, the Homag Group has been able to maintain production. However, customers have been very reluctant to invest. Pekka Paasivaara: \u201cDemand in the first half of the year was very moderate, particularly in the project business with large-scale plants. Although we are seeing the beginning of a recovery in customer activities, we are still far from the pre-crisis level. From today’s perspective, we expect the market environment to improve slightly in the second half of the year. Neverless it remains difficult to predict the start of a real upturn\u201d.<\/em><\/p>\n Despite the challenging situation, the Homag Group made important investment decisions in the second quarter to ensure a successful future. With the acquisition of the remaining 75% of the shares in its long-term sales and service partner in China<\/strong>, the company has put itself in a better position for the expected market growth in China. The remaining 24% of the shares in Weinmann<\/strong> Holzbausystemtechnik GmbH, the Group\u2019s expert for timber construction, were also acquired. This way, the Homag Group is strengthening its commitment to the solid wood sector.<\/p>\n","protected":false},"excerpt":{"rendered":" In the second quarter of 2020, the\u00a0Homag\u00a0Group was affected by the corona pandemic more strongly. Order intake and sales revenue decreased in the first half of 2020 (6M-2020). Since June, […]<\/p>\n","protected":false},"author":5,"featured_media":6317,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-17723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\n