Homag Group is on course to achieve another record year after seeing sales revenue rise by 18% year-on-year during the first quarter.
Sales revenue reached €227m during the period to March 31, with operating profit up 11% to €240m. Although order intake fell by €2m to €232m, the order backlog was up to €312m, a 12% advance year-on-year and up 22% compared to the fourth quarter.
Homag reported record results in 2007, with revenue up by 13%, operating profit by 16% and orders by 19%.
“The weak market situation in countries such as the US, Spain or Japan was offset by an above-budget order intake from eastern Europe and Asia in particular,” said chief executive officer Dr Joachim Brenk.
“We have almost matched the record figures achieved in the prior year again and we are thus above target.”
The positive trend in the first quarter has led the management board to improve its outlook for the financial year and predict a “good chance that sales revenue might surpass the €900m mark for the first time”.
