According to provisional figures for 2011, Homag showed turnover growth of 11% to €798.7m. The forecast of mid-single-figure percentage turnover growth was therefore exceeded. Turnover in 2011 included deliveries for a major project with the Russian furniture manufacturer Mekran involving a total volume of €58m. According to Homag, the trend in turnover was positive in all four quarters of last year; before employee participation and extraordinary expenses, the EBITDA was up by 8% to €70.5m. In connection with the closure of the Weinsberg and Löhne production sites decided at the beginning of October and the restructuring measures for Bütfering announced in March, restructuring expenses of €18.9m were incurred which together with other extraordinary items resulted in a negative annual result of minus €4.7m.
Homag Group boosts consolidated turnover by 11%
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