Homag is satisfied with the first quarter of 2020

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Homag/Fordaq
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Despite the coronavirus pandemic, the HOMAG Group ended the first quarter of 2020 well. All major plants were able to produce almost continuously. 

In March, however, the first effects of the corona pandemic had an impact. The HOMAG Group generated sales of € 290 million in the first three months of 2020, 9% below the previous year (€ 319 million). Order intake also fell by 9% to € 304 million (previous year: € 335 million). The order backlog as of March 31, 2020 was € 556 million, slightly higher than at the end of 2019 (December 31, 2019: € ​​546 million).

Contact with customers is also generally stable, as CEO Pekka Paasivaara explains: “The situation in the individual countries and regions is developing with very different dynamics. But in all markets we can support our customers with our digital tools and communication channels. ”Nevertheless, customers' reluctance to invest is clearly noticeable. The HOMAG Group initially expects the market to continue to deteriorate, which will lead to a significantly lower order intake compared to the previous year, especially in the second quarter of 2020. A gradual recovery is expected in the second half of the year.

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