Heidelberg Reports Positive Trends in Preliminary Second-Quarter Figures
HEIDELBERG, GERMANY—Oct. 19, 2010—The positive trend in business at Heidelberger Druckmaschinen AG (Heidelberg) continued in the second quarter of financial year 2010/2011 (July 1 to September 30, 2010). Based on preliminary calculations, incoming orders increased to EUR 651 million, compared to EUR 534 million for the previous year. Some EUR 39 million is accounted for by exchange rate movements.
Although this figure is lower than the previous quarter, which was boosted by special items such as exchange rate effects and trade shows, incoming orders are in line with the company's own planning. Preliminary sales climbed significantly to EUR 633 million vs. EUR 499 million in the previous year, including exchange rate effects of some EUR 38 million.
Thanks to the successful restructuring measures, the preliminary operating result excluding special items, is within the range of EUR -5 million and EUR -10 million, and thus has clearly improved compared to the previous year's quarter (EUR -65 million) and the previous quarter (EUR -35 million) of this fiscal year.
“The preliminary figures show that our organizational 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 industrialized countries. Thus, we confirm the forecast for financial year 2010/11,” stated Heidelberg CEO Bernhard Schreier. “In the medium term, expected growth within the strategically important areas of packaging printing, services and consumables, as well as continuing favorable developments in the emerging countries, will additionally support Heidelberg's success.”
Earnings from special items totaled EUR 7 million in the second quarter. The preliminary financial result in the second quarter is around EUR -50 million (previous year: EUR -27 million). Financing costs and non-recurring expenditures for the repayment of loans from the proceeds of the capital increase were among the items having a negative impact on this result.