Homag Group AG / Quarter Results 14.05.2010 07:51 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- * Significant gains in order intake, sales revenue and earnings in Q1 2010 * Job cuts less severe than feared * Forecasts for 2010 confirmed, increased sales revenue expected Schopfloch, May 14, 2010. The positive trend reported by HOMAG Group AG in the second half of 2009 has continued into the first quarter of 2010. Sales revenue, order intake and earnings continued to improve, particularly with regard to the same quarter in the prior year, which was admittedly very poor. The global leader for plants and machinery for the woodworking industry, which is listed on the SDAX, saw a sales revenue increase to EUR 165 million in the first three months of 2010 (prior year: EUR 119 million). Order intake even more than doubled to EUR 166 million (prior year: EUR 75 million), its highest value since the second quarter of 2008. The order backlog came to EUR 201 million as of March 31, 2010 (prior year: EUR 144 million). 'Although we have not yet returned to the level of order volume seen at peak times, we are very happy with our start to the year,' stresses CEO Rolf Knoll. However, he does not want to attribute this solely to the strong gains made compared to the first three months of 2009. 'What is most important for us is that our customers' willingness to invest has continued to grow, and that we are currently getting a positive response to and high demand for our products at trade fairs,' says Knoll. As was the case in the last quarter of 2009, HOMAG Group's results remained positive in the first quarter of 2010 despite considerable pressure on prices. EBITDA before the negligible extraordinary expense of EUR 0.3 million for restructuring measures/non-recurring effects, and before the result from employee participation, amounts to EUR 12.7 million (prior year: EUR -3.7 million), while EBT on the same basis comes to EUR 3.6 million (prior year: EUR -12.6 million). The net profit for the period after minority interests improved to EUR 1.2 million (prior year: EUR -11.1 million), and leads to earnings per share of EUR 0.08 (prior year: EUR -0.70). In addition to the resurgence of revenue, CFO Andreas Hermann attributes significantly improved earnings figures to a strong reduction in the cost base in particular. 'Our comprehensive restructuring measures have ensured that we are very well placed for the current order volume with reduced capacities.' HOMAG Group's headcount as of March 31, 2010 came to 4,956 (March 31, 2009: 5,387 employees). In comparison to its peak figure as of the third quarter of 2008, the workforce has been reduced by around 650 employees and almost 300 temporary workers. Hermann is optimistic that this means that the group has reached the ideal number of employees earlier than planned. 'The upturn in business has meant that we had to cut 300 fewer jobs than originally feared.' Outlook The management board has confirmed its previous forecast for 2010. This states that sales revenue and total operating performance should increase by at least 15 percent to over EUR 600 million. 'We even expect an improvement on 2009 of more than EUR 100 million to over EUR 620 million,' CEO Knoll says optimistically. Double-digit percentage growth is also expected for order intake, although HOMAG Group expects to return to the usual seasonal patterns in 2010 with order intake declining as the year progresses. The management board continues to expect a small net profit for the current fiscal year. However, the second quarter may close with a small net loss due to the lower number of working days, considerably higher interest expenses and the costs for the Xylexpo trade fair. Background information With its 16 specialized production companies worldwide, 20 group-owned sales and service companies and approximately 60 exclusive sales partners, HOMAG Group AG's market position is excellent and its portfolio as a comprehensive system supplier and technology partner makes it unique. Backed by a workforce of some 5,000 employees, the company sees itself as the leading global manufacturer for plant and machinery for the woodworking and wood materials 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 press release, it cannot be guaranteed that the same will hold true in the future. Information: HOMAG Group AG Investor Relations Simone Mueller Phone: +49 7443 13-2034 simone.mueller@homag-group.com www.homag-group.com 14.05.2010 07:51 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|] --------------------------------------------------------------------------- Language: English Company: 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, München, Hannover, Düsseldorf, Stuttgart, Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: Positive trend continues at HOMAG Group
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