Heidelberg Reports 2009-2010 Results
HEIDELBERG, GERMANY—Press manufacturer Heidelberg reported that its preliminary results were in line with its projected forecast, which reflected a drop in sales and profit for fiscal year 2009-2010 (April 1, 2009 to March 31, 2010). Sales stood at 2.371 billion euro, down from 2.999 billion euro. Preliminary orders did see a significant uptick in the second half of the fiscal year.
Savings from a package of cost-cutting measures were achieved ahead of schedule and mitigated the negative results significantly, particularly in the second half of the year. These saving in large part compensated for the shortfall in profit contributions resulting from the substantial decrease in sales.
Heidelberg's preliminary operating result, excluding special items, came to -130 million euro at the end of its financial year (compared to -49 million euro the previous year) and was in line with the most recent forecast. Special items for restructuring measures amounted to 28 million euro during the year.