Homag sees signs of recovery in 3Q 2020

In 3Q 2020, the Homag Group recorded a significant improvement in incoming orders (+ 41%) and an economic recovery compared to 2Q 2020. Nevertheless, the nine-month figures are also shaped by the corona pandemic.

“Like the entire mechanical engineering sector, we are still feeling the effects of the corona pandemic,” explains the chairman of the board, Pekka Paasivaara. “In the third quarter, however, incoming orders recovered noticeably. Whether this positive development will continue in the long term depends very much on the further global course of the pandemic. ”

In January-September 2020 overall, the Homag Group’s sales fell by 13% YoY to EUR 833 million and incoming orders by 16% YoY to EUR 763 million. The order backlog as of September 30, 2020 was EUR 461 million. In January-September 2020, the Homag Group achieved an operating EBIT of EUR 20.8 million (previous year: EUR 58.5 million).

According to Paasivaara, business development in the various market regions is different. “We are seeing a recovery especially in China as well as in Northern and Eastern Europe. The trend is also positive in other regions, although we are still below pre-crisis levels there. “