Homag reports lower sales in the first half of the year

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HOMAG Group/Fordaq
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In the second quarter of 2020, the Homag Group felt the effects of the Corona pandemic. This had a corresponding effect on the balance sheet for the first half of the year. Order intake fell by 17% to a value of € 493 million. Sales also decreased by 13% to € 552 million. The company has so far largely been able to maintain production thanks to stable supply chains. However, customers were very reluctant to invest.

“Demand was very subdued in the first half of the year, particularly in the project business with large plants. We see an upturn in customer activity, but we are still far from the pre-crisis level. From today's perspective, we expect the market environment to improve slightly in the second half of the year. However, it is difficult to predict when a real upswing will begin", said CEO Pekka Paasivaara.

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