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  • HOMAG returns to profit in the fourth quarter of 2009
    year EUR 77 million Order backlog was back up to EUR 171 million as of December 31 2009 and thus higher than the prior year figure EUR 164 million Although we are by no means back to where we were before the crisis the volume of business is clearly on the rise says CEO Rolf Knoll The management board of the HOMAG Group approved and implemented an extensive package of measures to adjust capacity and reduce costs at an early stage This way we managed to save more than EUR 100 million for personnel contract workers and other operating expenses including costs in proportion to revenue explains CFO Andreas Hermann The extraordinary expenses for these restructuring measures amounted to EUR 12 4 million in 2009 Despite these cost savings it was not possible to make up for the whole extent of the fall in revenue Based on preliminary figures EBITDA before extraordinary expenses and before employee participation comes to EUR 15 6 million prior year EUR 95 0 million and EBT to EUR 19 4 million prior year EUR 63 0 million The net result for the year after minority interests amounts to EUR 20 7 million in the fiscal year 2009 prior year EUR 31 9 million In the fourth quarter of 2009 however earnings were positive with net income for the period attributable to equity holders of approximately EUR 4 million before and of EUR 1 million after extraordinary expenses Regarding the increase in net liabilities to banks to EUR 95 million as of December 31 2009 prior year EUR 79 million Andreas Hermann points out that they were reduced by some EUR 18 million in the course of the fourth quarter Considering the increase in excess of EUR 20 million that is attributable to the acquisition of BENZ the dividend distribution to our shareholders and the payment for 2008 under the employee participation program we were even able to reduce our net liabilities to banks in spite of the losses incurred in 2009 emphasizes Hermann The headcount of the HOMAG Group was reduced continuously throughout 2009 as a result of the measures to adjust capacity being implemented and stood at 4 743 employees as of year end excluding BENZ December 31 2008 5 330 employees Including the employees of BENZ GmbH Werkzeugsysteme in which a majority shareholding has been held since the beginning of 2009 the Group had a headcount of 4 954 employees as of December 31 2009 The number of contract workers was also reduced by more than 300 CEO Rolf Knoll is cautiously optimistic about the current fiscal year and confident that the order situation is over the worst This forecast is supported by the developments seen since the start of 2010 with order intake rising again in the first two months compared to the prior year Improved structures and the measures initiated to improve growth and earnings will lead to a perceptible improvement in the financial position says Rolf Knoll The results of

    Original URL path: http://www.homag-polska.pl/en-en/news/newsdatabase/homaggroup/Pages/homag_returns_to_profit.aspx (2016-04-30)
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  • HOMAG Group AG enjoys good credit standing
    198 million and a term of three years and like the previous agreement which it is replacing is contingent on us complying with certain covenants The principal is ten percent higher than in the previous syndicated loan agreement CFO Andreas Hermann considers this evidence of the high credit standing that HOMAG Group AG enjoys with the banks Talks had been initiated with the banks at an early stage in the

    Original URL path: http://www.homag-polska.pl/en-en/news/newsdatabase/homaggroup/Pages/credit_standing.aspx (2016-04-30)
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  • HOMAG seems to be over the worst
    a total of EUR 78 million since the beginning of the year One result of the reduction of costs is the lower headcount which dropped within just one year from over 5 400 employees to 4 801 as of September 30 2009 without the majority shareholding acquired in BENZ GmbH Werkzeugsysteme at the beginning of 2009 and to 5 017 including the employees attributable to that majority shareholding The current figures still include some 140 subsidized temporary layoffs as well as around 80 new trainees for the Group as a whole The number of contract workers was also reduced by more than 330 The earnings ratios of the HOMAG Group also improved somewhat in the third quarter of 2009 compared to the two preceding quarters EBITDA is positive again at a level of EUR 5 8 million prior year EUR 22 5 million before extraordinary expense for restructuring measures non recurring effects and after income from employee participation and at a level of EUR 4 0 million prior year EUR 25 3 million after extraordinary expense and before income from employee participation EBT before extraordinary expense and after income from employee participation amounts to EUR 2 4 million prior year EUR 14 2 million The net loss for the period after minority interests comes to EUR 2 9 million prior year net profit of EUR 9 9 million which leads to earnings per share of EUR 0 18 prior year EUR 0 63 First to third quarters of 2009 A comparison between the first nine months of 2008 and 2009 shows the far reaching repercussions that the global economic crisis has had as the prior year period was still unaffected by it The comparison shows that the HOMAG Group s sales revenue fell to EUR 376 million over the period from January to September 2009 prior year EUR 661 million and order intake decreased to EUR 283 million prior year EUR 541 million Despite the considerable cost reductions it was not possible for the company to offset the dramatic decline in sales revenue As a result EBITDA before extraordinary expense and after income from employee participation comes to EUR 8 7 million prior year EUR 70 5 million after extraordinary expense and before income from employee participation EBITDA is reported at EUR 4 4 million prior year EUR 78 3 million EBT before extraordinary expense and after income from employee participation comes to EUR 16 6 million prior year EUR 46 1 million The net loss for the period after minority interests came to EUR 21 7 million prior year EUR 29 9 million and leads to earnings per share of EUR 1 38 prior year EUR 1 91 Outlook For the fourth quarter of 2009 the HOMAG Group expects sales revenue to increase again in relation to the third quarter and to generate a net profit for the period before extraordinary expenses According to CEO Rolf Knoll this will not change the fact that the economic crisis will continue

    Original URL path: http://www.homag-polska.pl/en-en/news/newsdatabase/homaggroup/Pages/homag_seems_tobeoverthe_worst.aspx (2016-04-30)
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  • HOMAG Group AG: Incoming orders on the way up
    the downward trend has bottomed out comments HOMAG Group AG Board Spokesman Rolf Knoll in optimistic mode Orders in hand for the SDAX listed world market leader in the manufacture of machines and plants for the woodworking industry increased as at September 30 2009 by 7 percent compared to the key date in Q2 2009 161 million Euro The positive outcome of the in house exhibitions staged by the Group companies in September had already provided pointers towards a consolidation of the order situation Orders received at the in house exhibitions were actually up on those of the previous year providing another indicator of a tangible trend towards recovery Even through difficult times our customers are clearly placing their reliance on our innovative products In conjunction with our service packages these provide the guarantee of economy in the long term and also enhanced quality Particularly orders for plants and machines used in furniture manufacture have picked up significantly was Rolf Knoll s comment on the success of the in house exhibitions The upbeat trend in evidence at the lead trade fair Ligna back in May has followed through to our in house exhibitions says Board Spokesman Rolf Knoll The improved order situation will lead to a modest increase in capacity utilization for individual companies of the Group in the fourth quarter Disclaimers This press release contains certain statements relating to the future Future oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as believes estimates assumes forecasts intend may will should or similar expressions Such future oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company which may not occur in the future or

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  • Investors' Newsletter 3/2009
    2009 Please click here to access our Investors Newsletter 3 2009 Please click here to access our Investors Newsletter 3 2009 Download Investors Newsletter 3 2009 Contact HOMAG Group AG Homagstrasse 3 5 72296 Schopfloch Germany Tel 49 7443 13

    Original URL path: http://www.homag-polska.pl/en-en/news/newsdatabase/homaggroup/Pages/Investors_Newsletter_32009.aspx (2016-04-30)
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  • HOMAG Group stages successful in-house exhibitions
    the prior year Orders closed at the exhibition also showed a modest increase over last year s event which was staged before the impact of the economic crisis had kicked in Large numbers of orders were placed both from within the domestic market as well as Asia in particular from China HOMAG is particularly satisfied with orders placed for plant and machinery for the production of furniture At HOLZMA and

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  • Cost cutting at HOMAG takes effect
    reduced by a further EUR 32 million in the second quarter bringing the total reduction in costs in the first half of 2009 including the costs in proportion to sales revenue to more than EUR 56 million Between April and June 2009 headcount dropped by around 250 employees and since September 30 2008 by around 500 to 4 905 employees as of June 30 2009 excluding BENZ GmbH Werkzeugsysteme in which a majority shareholding was acquired at the beginning of 2009 or 5 136 employees including them Since September 2008 around 330 contract workers have been laid off in addition to that The extraordinary expense for these restructuring measures non recurring effects amounted to EUR 7 3 million in the second quarter The success of this cost cutting drive is already reflected in the positive EBITDA recorded in the second quarter of EUR 4 9 million prior year EUR 22 5 million before this extraordinary expense and after employee participation After extraordinary expense and before employee participation EBITDA amounts to EUR 4 1 million prior year EUR 25 2 million EBT before extraordinary expense and after employee participation amounts to EUR 3 3 million prior year EUR 14 7 million The net profit for the period after minority interests comes to EUR 7 7 million prior year EUR 8 8 million and earnings per share of EUR 0 50 prior year EUR 0 56 First half of 2009 The half year comparison clearly shows just how dramatically the market situation has changed since the first half year of 2008 when there was still no sign of the economic crisis in the mechanical engineering industry The HOMAG Group s sales revenue in the first half year 2009 stood at EUR 241 million prior year EUR 450 million while order intake stood at EUR 176 million prior year EUR 401 million EBITDA before the extraordinary expense and after employee participation amounted to EUR 2 9 million prior year EUR 48 0 million while it comes to EUR 8 5 million prior year EUR 53 0 million after extraordinary expense and before employee participation EBT before extraordinary expense and after employee participation amounts to EUR 14 2 million prior year EUR 31 8 million The net profit for the period after minority interests dropped to EUR 18 8 million prior year EUR 20 1 million and leads to earnings per share of EUR 1 20 prior year EUR 1 28 Outlook As the difficult market situation persists the management board of the HOMAG Group still expects 2009 to be a weak fiscal year and anticipates a drop in sales of up to 40 percent Thanks to huge cost savings the management board assumes that EBIT before extraordinary expenses will be positive for the second half of 2009 Due to the slow start to the year the EBIT for the whole year is however expected to be slightly negative According to CEO Brenk the main goal of the Group in 2009 is to calibrate

    Original URL path: http://www.homag-polska.pl/en-en/news/newsdatabase/homaggroup/Pages/costcutting_takeseffect.aspx (2016-04-30)
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  • Reorganization of the management board of HOMAG Group AG
    BRANDT Kantentechnik GmbH He will take up this new position no later than January 1 2010 The reorganization was necessary because Dr Joachim Brenk the current CEO of HOMAG Group AG and responsible within the management board for sales service and marketing is leaving the company of his own volition at the end of the year to take on a new position In connection with this change the supervisory board

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