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The Homag Group increased sales by 10 percent in the first quarter of 2023. As expected, incoming orders weakened in the first quarter of 2023 after two exceptionally strong years. Incoming orders in the first quarter of 2023 were EUR 353 million (previous year: EUR 574 million).<\/span><\/p>\n \"We expected this slowdown in incoming orders,\" emphasized CEO Dr. Daniel Smith. \"We can look back on two years of extraordinarily high investments by our customers - with the absolute record value in the first quarter of 2022. Since mid-2022 we have seen a normalization in orders. However, it is pleasing that the order intake in the first three months of 2023 is above the value of the restrained fourth quarter of 2022.\u201d but still at a high level.<\/p>\n Due to this high order backlog, the Homag Group's sales increased by 10 percent to EUR 404 million (previous year: EUR 367 million). At EUR 27.0 million, EBIT before special items was slightly above the previous year's level (EUR 26.8 million). It includes, among other things, increased expenses for research and development for new product innovations that are presented at the leading industry trade fair LIGNA . As of March 31, 2023, the Homag\u00a0 Group employed 7,570 people (March 31, 2022: 7,274).<\/p>\n \"We are now really looking forward to the personal encounters at the LIGNA in Hanover, which starts on Monday,\" says Dr. Smith. \"Here we want to convince the customers with our innovations, our service and our unique offer.\"<\/p>","protected":false},"excerpt":{"rendered":" The Homag Group increased sales by 10 percent in the first quarter of 2023. As expected, incoming orders weakened in the first quarter of 2023 after two exceptionally strong years. Incoming orders in the first quarter of 2023 were EUR … Continue reading