News Column

DGAP-News: HOMAG Group with successful Q1 2014

May 12, 2014

DGAP-News: Homag Group AG / Key word(s): Quarter Results HOMAG Group with successful Q1 2014 13.05.2014 / 07:01 --------------------------------------------------------------------- HOMAG Group with successful Q1 2014 - Order intake and sales revenue continued to rise - Earnings rise again - Forecasts for 2014 confirmed in EUR million Q1 2014 Q1 2013 Order intake* 229.3 216.3 Order backlog* 261.6 240.9 Sales revenue 204.8 176.7 Operative EBITDA** 15.1 13.4 Net profit for the period (after non-controlling interests) 2.5 1.8 *New calculation method: Order intake and order backlog contain own machines, merchandise, and the after-sales segment **Earnings before interest, taxes, depreciation and amortization as well as before employee participation expenses and before extraordinary expenses Schopfloch, May 13, 2014. The HOMAG Group, the world's leading manufacturer of plant and machinery for the woodworking industry and for cabinet makers continued its trajectory of profitable growth with a successful first quarter of 2014. Order intake increased by 6 percent to EUR 229.3 million (prior year: EUR 216.3 million) and order backlog rose by just under 9 percent to EUR 261.6 million (prior year: EUR 240.9 million). In terms of sales revenue, the Group saw a rise of just under 16 percent to EUR 204.8 million (prior year: EUR 176.7 million). CEO Dr. Markus Flik points out that around EUR 11 million of sales revenue stems from the takeover of all the voting shares in Stiles Machinery, Inc., effective as of February 3, 2014. "We have acquired the leading sales and service organization for machines and production lines for the US woodworking industry. It is on a growth path, just like the overall US market. This direct market access allows us to play an active role in the re-industrialization process in the US and benefit from the growth there even more profoundly." Even without the Stiles acquisition, the HOMAG Group's sales revenue would have seen a significant rise of around 10 percent. The Stiles acquisition does not have any impact on order intake. Dr. Flik adds, "the strong order intake in the first quarter reflects our strong presence in Asia and North America." The Group also succeeded in further improving its results of operations in the first three months of 2014 "although, after balancing up all effects seen in the first quarter, the acquisition of Stiles burdens the profit for the period with a total of EUR 1.5 million," a fact emphasized by CFO Hans-Dieter Schumacher. Operative EBITDA before employee participation expenses and before extraordinary expenses improved nevertheless by just over 13 percent to EUR 15.1 million (prior year: EUR 13.4 million). A fall in the tax expense ratio to 36 percent (prior year: 47 percent) increased net profit for the period after non-controlling interests to EUR 2.5 million (prior year: EUR 1.8 million). This results in earnings per share of EUR 0.16 (prior year: EUR 0.12). As of March 31, 2014, HOMAG Group's headcount rose to 5,410 employees (prior year: 5,031 employees), which is primarily attributable to the additional 324 employees from Stiles. Outlook For 2014, the HOMAG Group has confirmed its existing forecasts. Under these forecasts, the Group aims to further increase order intake to between EUR 760 million and EUR 780 million (prior year restated: EUR 734 million). Group sales revenue is budgeted to increase to between EUR 860 million and EUR 880 million (prior year: EUR 789 million). Sales revenue growth of a mid-single-digit percentage will result from the Stiles takeover. In 2014, we expect our operative EBITDA before employee profit participation expenses and before extraordinary expenses to range between EUR 82 million and EUR 84 million (prior year: EUR 76 million) and the Group to return a net profit for the year ranging between EUR 20 million and EUR 22 million (prior year: EUR 18 million). There will, however, be no material impact on these two key performance indicators in 2014 from the full consolidation of Stiles as the additional contribution to profit and the consolidation and purchase price allocation effects together with the acquisition-related costs at Stiles are expected to roughly balance each other out or the effects will place a slight burden on earnings. We anticipate a positive contribution to earnings from the acquisition as of 2015. - - - - - - - - - - - Background information With its 15 specialized production companies, 22 group sales and service companies and approximately 60 exclusive sales partners worldwide, HOMAG Group AG's position as a complete system supplier is unique. Backed by a workforce of some 5,400 employees worldwide, the Company sees itself as the leading global manufacturer of plant and machinery for the woodworking and wood materials processing industry and cabinet makers active in the production of furniture and construction elements as well as timber frame houses. The Group also offers its customers a wide range of services, including software and consulting services. HOMAG Group AG shares have been listed on the Prime Standard of the Frankfurt stock exchange since July 13, 2007. Disclaimer This press release contains certain statements relating to the future. Future-oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as "believes", "estimates", "assumes", "forecasts", "intend", "may", "will", "should" or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this announcement, it cannot be guaranteed that the same will hold true in the future. Information: HOMAG Group AG Kai Knitter Head of Investor Relations & Corporate Communications Phone: +49 7443 13-2461 kai.knitter@homag-group.comwww.homag-group.com End of Corporate News --------------------------------------------------------------------- 13.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Homag Group AG Homagstr. 3-5 72296 Schopfloch Germany Phone: +49 (0)7443 / 13 - 0 Fax: +49 (0)7443 / 13 - 2300 E-mail: info@homag-group.com Internet: www.homag-group.com ISIN: DE0005297204 WKN: 529720 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÜsseldorf, Hamburg, Hannover, MÜnchen, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 267833 13.05.2014


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: DGAP Corporate News


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters