SCHOPFLOCH, GERMANY - Homag Group AG amassed its largest backlog of woodworking machinery during the first six months of the year since the first half of 2008 and expects big sales conversions from LIGNA.
The woodworking machinery manufacturer's order backlog of EUR 249.1 million ($329.3 million) bested the first half backlog of 2012 by 11.4%. The company also experienced a 1% increased order intake for the the first six months, rising to EUR 330.9 million ($436.3 million).
Homag's gains were tempered by a fist-half revenue decrease of 1% to EUR 372.0 million ($491.8 million).
Homag CEO Dr. Markus Flik said he expects Homag to show improved results in the second half as leads from LIGNA Hanover, held in May, are converted into sales.
"We were able to inspire customers with our innovations (at LIGNA)," Filk said. "Especially with our new operating and control systems powerTouch/powerControl, we have taken the lead in networked production in our industry."
Looking ahead, the Homag board forecasts sales revenue to finish the year at about EUR 800 million ($1.06 billion) and projects a profit of EUR 15 million ($19.8 million) for all of 2013.
Homag operates as Homag Canada in Canada and sells its products exclusively through Stiles Machinery of Grand Rapids, MI, in the United States.
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