Heidelberg Reports Revenue Decline but Orders Stabilize
The weak economic conditions worldwide have impacted on the company's business in all sectors. Sales and incoming orders in this area were therefore down on last year. However, incoming orders for the new large-format presses exceeded expectations. Looking at the individual regions, Asia/Pacific was the only region to improve in terms of incoming orders. At EUR 172 million, orders for the second quarter were up on the previous year's figure (EUR 147 million). By contrast, incoming orders in all other regions fell compared to the previous year.
As a result of the business developments in the first six months of the year and the current economic and market forecasts, Heidelberg does not expect the level of investment in the print media industry to rise in the current financial year. For the subsequent quarters in financial year 2009/10, the company expects no significant increase in incoming orders and sales over the previous quarters, which means that the figures will likely fall short of the original expectations. Consequently, for the financial year as a whole, Heidelberg sales will fall well short of the figure for financial year 2008/09. As a result of the low sales volume, Heidelberg forecasts an operating result (excluding special items) of between EUR minus 110 million and EUR minus 150 million. All the cost-cutting measures planned at Heidelberg are currently in progress. Moreover, the agreements made to date mean that personnel costs can still be adapted flexibly as needs dictate.
The tables as well as additional information can be found at the Heidelberg Press Lounge at www.heidelberg.com.