Woodworking manufacturer Homag Group AG has announced a net profit of €3.2 million for the first quarter of 2012, compared to a profit of €1.5 million in Q1 2011.
The company reported a growth of 14% in the operative earnings before interest, taxes, depreciation, and amortization (EBITDA) of €16.7 million for the quarter ended on 31 March 2012, compared to EBITDA of €14.6 million ($18.66 million) for 2011.
Homag Group reported total sales revenue of €187.7 million ($240.01 million) for the first quarter of 2012, compared to €175.6 million ($224.53 million) for Q1 2011, which indicates an increase of 7% in the sales revenue.
The company, in fiscal 2012, aims to attain a sales revenue of €750 million ($959.02 million) and an operative EBITDA of €65 million ($83.11 million).
Homag Group AG manufactures plant and machinery for the woodworking industry and cabinet makers.