DGAP-News: Homag Group AG / Key word(s): Quarter Results
The HOMAG Group reports good order situation
15.05.2013 / 07:02
---------------------------------------------------------------------
The HOMAG Group reports good order situation
- Order intake and order backlog increase in the first quarter of 2013
- Sales revenue and earnings influenced by fewer deliveries
- Forecasts for 2013 confirmed
<pre>
in EUR million Q1 2013 Q1 2012
Order intake 182.3 170.6
Order backlog 230.9 208.9
Sales revenue 176.7 187.7
Operative EBITDA 13.4 16.7
EBT 3.6 6.8
Net profit for the period (after 1.8 3.2
non-controlling interests)
</pre>
Schopfloch, May 15, 2013. The HOMAG Group, the world's leading manufacturer
for plant and machinery for the woodworking industry and for cabinet
makers, was able to significantly increase order intake by nearly 7 percent
to EUR 182.3 million in the first quarter of 2013 (prior year: EUR 170.6
million), contrary to the industry trend. CEO Dr. Markus Flik explains:
'This good order intake is even more remarkable considering the recently
held LIGNA, the leading trade fair in the industry, as many of our
customers typically wait until after LIGNA to make investment decisions.'
The order backlog reached with EUR 230.9 million as of March 31, 2013
(prior year: EUR 208.9 million) the highest first-quarter figure since
2008, because among other factors numerous complex projects were in an
early phase of processing at the end of the quarter.
The decrease in sales revenue to EUR 176.7 million between January and
March 2013 (prior year: EUR 187.7 million) is, on the one hand, due to fact
that the prior-year sales revenue included around EUR 5 million from the
large-scale project for the customer Mekran which had an above-average
proportion of merchandise. On the other, some delivery dates were postponed
by customer request. 'A portion of this sales revenue has thus been shifted
to the coming months', Flik adds.
Lower sales revenue in the first quarter of 2013 compared to the prior year
has had a direct impact on the HOMAG Group's results of operations.
According to CFO Hans-Dieter Schumacher, the quarterly results were also
burdened by higher personnel expenses relating to the collectively
bargained wage increase of 2012, the temporarily higher expenses in
connection with project processing and LIGNA preparations. Additionally,
elimination of intercompany profits was higher in connection with the
rising stocks in the first quarter of 2013. This burdening effect on
earnings will be compensated for to a large extent in the coming quarters.
As a result, operative EBITDA before employee profit participation expenses
and before extraordinary expenses stood at EUR 13.4 million (prior year:
EUR 16.7 million) and EBT after employee profit participation expenses and
after extraordinary expenses at EUR 3.6 million (prior year: EUR 6.8
million). The net profit for the period after non-controlling interests
came to EUR 1.8 million (prior year: EUR 3.2 million), and leads to
earnings per share of EUR 0.12 (prior year: EUR 0.21).
Outlook
The HOMAG Group confirms their forecast so far for 2013. Subject to the
condition that there are no major disruptions in the global economy, the
Group aims to exceed the prior-year order intake figure and generate sales
revenue for the Group of around EUR 800 million in 2013. The Group
anticipates an operative EBITDA before employee profit participation
expenses and before extraordinary expenses of around EUR 75 million and
expects to return a consolidated net profit for the year of around EUR 15
million.
Dr. Markus Flik: 'We are convinced that we will be able to compensate for
the decrease in sales revenue and earnings in the first quarter of 2013
compared to the prior year over the remainder of the year. We are confident
about the future thanks to the good order intake and the high order backlog
as well as the positive results of LIGNA, the leading trade fair in the
industry.'
- - - - - - - - - -
Background information
With its 15 specialized production companies, 21 group sales and service
companies and approximately 60 exclusive sales partners worldwide, HOMAG
Group AG's position as a complete system supplier is unique. Backed by a
workforce of some 5,000 employees worldwide, the Company sees itself as the
leading global manufacturer of plant and machinery for the woodworking and
wood materials processing industry and cabinet makers active in the
production of furniture and construction elements as well as timber frame
houses. The Group also offers its customers a wide range of services,
including software and consulting services. HOMAG Group AG shares have been
listed on the Prime Standard of the Frankfurt stock exchange since July 13,
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 announcement,
it cannot be guaranteed that the same will hold true in the future.
Information:
HOMAG Group AG
Kai Knitter
Investor Relations and Corporate Communications
Phone: +49 7443 13-2461
kai.knitter@homag-group.com
www.homag-group.com
End of Corporate News
---------------------------------------------------------------------
15.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Homag Group AG
Homagstr. 3-5
72296 Schopfloch
Germany
Phone: +49 (0)7443 / 13 - 0
Fax: +49 (0)7443 / 13 - 2300
E-mail: info@homag-group.com
Internet: www.homag-group.com
ISIN: DE0005297204
WKN: 529720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
210968 15.05.2013
DGAP-News: The HOMAG Group reports good order situation
| Source: EQS Group AG