Homag Group AG / Preliminary Results
10.03.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Substantial increases in order intake, revenue and earnings in fiscal
2007
Positive outlook for 2008
Schopfloch, March 10, 2008. A positive business development coupled with
above-average growth in earnings resulted in record figures across all
indicators at HOMAG Group AG in fiscal 2007. Based on preliminary figures,
the global leader for plant and machinery for the woodworking industry,
which is listed on the SDAX, saw order intake climb 19 percent to EUR 747
million (prior year: EUR 626 million). Following the excellent development
of the fourth quarter of 2007, revenue for the full fiscal year 2007
improved more than 13 percent, reaching almost EUR 837 million (prior year:
EUR 736 million) and total operating performance rose by 16 percent to
around EUR 860 million (prior year: EUR 741 million). Orders in hand soared
32 percent to EUR 255 million as of December 31, 2007 compared to year-end
2006 (EUR 193 million). 'In 2007, we fully achieved the target for
profitable growth and we can look back on the best year in the companys
history', says Dr. Joachim Brenk in his concise assessment of the past
fiscal year.
According to Dr. Brenk, the rigorous cost management and a further
improvement in productivity were key factors in this development. EBITDA
before IPO costs and employee participation expenses increased by almost 21
percent to EUR 103.3 million (prior year: EUR 85.0 million), while EBT
before IPO costs and employee participation expenses rose 38 percent to EUR
71.3 million (prior year: EUR 51.6 million). The net profit for the year
attributable to the equity holders of the parent company increased even
more significantly, rising 58 percent to EUR 32.0 million (prior year: EUR
20.2 million) with earnings per share increasing 53 percent to EUR 2.12
(prior year: EUR 1.38).
The forecast of HOMAG Group AGs management board for fiscal 2008 is
optimistic. According to the company, the order intake continued its
positive trend in the first two months of the year and is on target.
Indeed, the spokesman of the management board Dr. Brenk commented that
'there are already indications that revenue and earnings in the first six
months of 2008 will exceed what had already been a healthy level in the
comparable period of the prior year.' Thanks to the excellent orders in
hand, revenue for the full year 2008 is expected to grow by at least 6
percent, accompanied by at least a parallel increase in EBITDA. The
management board expects the increase in net profit for the year
attributable to equity holders of the parent company to even more
significant and exceed 30 percent, based on an improved interest result
compared to 2007 as well as the fact that the IPO costs were non-recurring
and that the effects of corporate tax reform in Germany will begin to have
a positive impact.
HOMAG Group AG will present detailed information on the fiscal year 2007
and its expectations for the current fiscal year at its press conference on
the financial results on April 28, 2008 in Stuttgart.
Background information
With its 14 production companies worldwide, 21 group-owned sales and
service companies and approximately 60 exclusive sales partners, HOMAG
Group AGs market position is excellent and its portfolio as a
comprehensive system supplier and technology partner makes it unique.
Backed by a workforce of more than 5,000 employees, the Company sees itself
as the leading global manufacturer for plant and machinery for the
woodworking industry for the production of furniture and construction
elements as well as prefabricated houses. The Group also offers its
customers a wide range of services in related areas for production machines
and equipment. HOMAG Group AG shares have been trading on the Prime
Standard of the Frankfurt Stock Exchange since July 13, 2007 and were
listed on the SDAX of the German Stock Exchange on October 2007.
Disclaimers
This press release contains certain statements relating to the future.
Future-oriented statements are all those statements that do not pertain to
historical facts and events or expressions pertaining to the future such as
'believes', 'estimates', 'assumes', 'forecasts', 'intend', 'may', 'will',
'should' or similar expressions. Such future-oriented statements are
subject to risks and uncertainty since they relate to future events and are
based on current assumptions of the Company, which may not occur in the
future or may not occur in the anticipated form. The Company points out
that such future-oriented statements do not guarantee the future; actual
results including the financial position and the profitability of the HOMAG
Group as well as the development of economic and regulatory framework
conditions may deviate significantly (and prove unfavorable) from what is
expressly or implicitly assumed or described in these statements. Even if
the actual results of the HOMAG Group including the financial position and
profitability as well as the economic and regulatory framework conditions
should coincide with the future-oriented statements in this interim report,
it cannot be guaranteed that the same will hold true in the future.
HOMAG Group AG
Investor Relations
Simone Mueller
Phone: +49 7443 13-2034
simone.mueller@homag-group.com
www.homag-group.com
DGAP 10.03.2008
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Language: English
Issuer: Homag Group AG
Homagstr. 3-5
72296 Schopfloch
Deutschland
Phone: +49 (0)7443 / 13 - 0
Fax: +49 (0)7443 / 13 - 2300
E-mail: info@homag-group.de
Internet: www.homag-group.de
ISIN: DE0005297204
WKN: 529720
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: Record Year for HOMAG Group AG
| Source: EQS Group AG