Homag Group reports EBIT well in negative territory

17.08.2020 − 

A slump in order intake and revenues caused by the coronavirus pandemic and special effects associated with ongoing restructuring measures culminated in a significant fall in earnings at Homag Group in the second quarte. According to preliminary figures published by Dürr AG, headquartered in Bietigheim-Bissingen, Germany, on 29 July, order intake dropped by 25.3% to €191.5m and revenues were down 17.5% at €261.9m. EBIT was well in negative territory at -€9.0m. Dürr’s Woodworking Machinery and Systems division was thus responsible for more than half of the group’s EBIT loss of -€16.4m. Dürr posted EBIT before extraordinary effects of -€8.9m.

Looking at the first six months combined, Homag Group saw its order intake decline by 16.5% to €493.2m and its revenues dwindle by 13.4% to €551.5m. EBIT was just one tenth of last year’s level at €3.5m. The number of employees was 1.4% lower than last year at 6,498 as of 30 June.

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