Orders for Italian wood processing technologies drop by 21.1%

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Acimall/Fordaq
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The orders for Italian wood processing technologies dropped by 21.1% y-o-y in 1Q 2020, reported the Studies Office of Acimall, the Confindustria-member association representing the Italian wood-furniture technology industry. The orders from international customers down by 19.4%, while domestic demand fell 25.3%.

“It is clear that the widespread shrinkage and later lockdown of production activities has impacted the results, causing a demand crisis that will probably influence the entire year. The actions of national, European and global governments and institutions to support the economy and each industry will be critical in the near future," said Dario Corbetta, general director of Acimall. 

The book of orders is at 2.6 months, while prices have been increasing by 0.8%. In a situation that is not just “difficult”, the revenues in Q1 obviously show a very different trend from orders, down by 8.8%. Basically, industry companies could finalize and deliver all pending orders, but the worries for the future have led too many customers to postpone all investment decisions, waiting for a safer outlook, said Acimall in a statement.

The Acimall's survey reveals all the fears of industry entrepreneurs: 69% expect dropping production, 19% predict some stability and only 12% believe in a positive trend. A “stationary” trend is also expected for employment according to 75% of the sample, while 6% expect an increase and 19% fear shrinkage. Available stocks are stationary according to 44%, increasing according to 37% and falling according to the remaining 19%.

The forecast survey shows a situation dominated by worries, both for the trend of domestic demand and for the poor chances to find compensation abroad: 13% of the interviewees expect an increase in foreign orders, but 31% believe there will be no change and 56% fear that the worst is yet to come (negative balance 43). No business owner is optimistic about incoming orders from the Italian wood and furniture industry: 37% hope for some stability while 63% believe the downward trend will continue (negative balance 63).

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