SCHOPFLOCH, GERMANY - Homag Group AG, a world leader in the manufacturer of woodworking machinery, posted a profit of EUR 12.7 million ($16.4 million) in its fiscal year 2012, reversing the loss of EUR 4.7 million ($6.1 million) it sustained one year earlier.

Homag achieved its improved earnings on total order intake of EUR 575.8 million ($744.7 millon) in 2012 vs. EUR 574.8 million ($543.4 million) the previous year.

Homag CEO Dr. Markus Flik said, “In 2012, we wanted to strengthen our earning power in particular. We have achieved this objective and exceeded our forecasts. Our measures to increase efficiency, such as the Homag Group Action Program and the restructuring of three subsidiaries, are taking effect here.”

Filk said Homag is positioned to increase its operating performance this year. The company will look to capitalize on its growth aspirations at LIGNA next month in Hanover, Germany, where among other products Homag will display a new Lasertec seamless edgebander.