Heidelberg Releases Final Half-Year Figures, Including Stable Sales

HEIDELBERG, GERMANY—Nov. 8, 2011—In the first six months of financial year 2011/2012 (April 1 to Sept. 30, 2011), Heidelberger Druckmaschinen AG (Heidelberg) significantly improved its operating result while recording stable sales.

Incoming orders for the first half-year totaled €1.333 billion. After adjustment for exchange rate effects, this was around 5 percent below the high level for the same period the previous year (€1.436 billion), which was influenced by the Ipex and ExpoPrint trade shows. The Heidelberg Group’s order backlog at the end of the second quarter amounted to €731 million, which was slightly higher than the previous quarter (€718 million).

Sales for the first six months totaled €1.180 billion (€1.209 billion after adjustment for exchange rate effects), which was on a par with the previous year’s level of €1.196 billion.

Over the same period, the operating result—excluding special items—improved significantly to €-21 million (previous year: €-41 million). Amounting to €3 million, the special items mainly consisted of personnel-related expenditure. In the previous year, special items yielded an income of €22 million.

“With stable sales, the continued consistent cost management that forms part of the reorganization and the associated efficiency gains have led to a significant improvement in profitability compared to the previous year. To achieve our medium-term earnings target, we will take action to counter the fact that the global economic situation has become more uncertain and the market is not recovering as expected,” said Heidelberg Group CEO Bernhard Schreier.

At €-42 million, the financial result was clearly improved against the previous year’s figure of €-87 million. The pre-tax result for the second quarter improved from €-50 million in the previous year to €-19 million. The result for the half-year under review improved substantially from €-106 million in the previous year to €-66 million. Heidelberg achieved a net result for the first six months of €-66 million (previous year: €-88 million).

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