Homag expects 2012 turnover to reach roughly €750m

Homag, has budgeted turnover for 2012 of €750m. Compared to 2011, when turnover growth of 11.3% to €798.7m was achieved, this would represent a decline. However, 2011 was influenced by turnover from the big project in Russia, for which €49m of the total volume of €58m was booked in the 2011 financial year. Adjusted for that special effect, turnover in 2011 would have been up by 4% and budgeted turnover for 2012 constant. This year will see another €9m turnover booked from the Russian project. In December 2011, Homag also received a project order from Ikea’s Swedwood Group for two new production lines at unspecified business locations in Poland and China which will be reflected in turnover for 2012. Both orders include the reacTec process for coating surfaces and edges.