Latest News

Consistent incoming orders keep Heidelberg on track

Wednesday, 20 October 2010
By Print 21 Online Article

Positive developments in its operational business continues into second quarter of financial year for Heidelberg.

In its preliminary figures for the second quarter financial year 2010/11, the German offset press manufacturer reported a climb in sales of EUR 633 million (up from EUR 499 million the previous year). Restructuring measures were credited for a preliminary operating result within the rang of EUR -5 million and EUR -10 million, an improvement on the previous year’s quarter, EUR-65 million.

"The preliminary figures show that our organisational and strategic realignment is taking effect. Due to our improved structures we furthermore profit from the cyclical upturn as well as from the recovery in the industrialised countries. Thus, we confirm the forecast for financial year 2010/11," said Heidelberg CEO, Bernhard Schreier (pictured).

"In the medium-term, expected growth within the strategically important areas packaging printing, services, and consumables as well as continuing favorable developments in the emerging countries will additionally support Heidelberg’s success."

Heidelberg still expects a moderate growth in sales and is striving for a break-even operating result in the current financial year. However, financing costs and non-recurring expenditures for the repayment of loans from the proceeds of the capital increase will burden the financial result.

In a statement, Dirk Kaliebe, CFO of Heidelberg said: "With the successful capital increase we were able to considerably reduce our financial debt, and to strengthen the financial stability of the Heidelberg Group in the long-term. Additionally, due to the enhanced financing structure we have implemented a solid basis for sustainable growth enabling us to break even quickest possible."

 

Comment on this article


To receive notification of comments made to this article, you can also provide your email address below.