Sales revenue was up by a good 4%, reaching €1,082m (previous year: €1,039m). Operating EBIT rose by 13% to €71m (previous year: €63m) and thus at a faster rate than sales revenue.

“We were very successful in the last financial year, especially in China, Central Europe and North America", explains CEO Pekka Paasivaara.

“Our good business performance, with incoming orders growing at a double-digit rate, is all the more remarkable given the extensive change process we underwent in 2016.

“As the leading provider of solutions for the woodworking industry, we are well positioned for our expected future growth, and we want to continue to increase our market share. We made excellent progress throughout this change process, which is also reflected in our increased profitability,” emphasises Mr Paasivaara.

The Homag Group plans to continue its growth trajectory in 2017 and expects another increase in order intake, sales revenue and earnings.