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Heidelberg on Track After Nine Months of Financial Year 2012/2013

February 7, 2013
In the first nine months, group sales were 5 percent up on the same period of the previous year at EUR 1,905 million (previous year: EUR 1,811 million).

As expected, the operating result (EBIT) excluding special items after nine months was still negative at EUR -32 million. When comparing this with the figure for the same period of the previous year (EUR -19 million), it is essential to take into account the high non-recurring costs for the drupa trade show in May 2012.

The special items totaling EUR 24 million after nine months were primarily the result of expenditure relating to the Focus 2012 efficiency program. At EUR -55 million, the negative impact of the financial result was EUR 7 million less than in the previous year.

The income before taxes after three quarters thus remained negative at EUR -111 million (previous year: EUR -91 million). Thanks to positive tax effects, the net result for the period under review was EUR -88 million (previous year: EUR -79 million).

As a result of the drupa trade show in May 2012, incoming orders after nine months rose 12 percent, from EUR 1,975 million to EUR 2,203 million. The order backlog remained unchanged year on year at EUR 728 million.

As of December 31, 2012, Heidelberg had a workforce of 14,563 worldwide (previous year: 15,666). This headcount has fallen by around 1,100 in the past year.

Outlook for financial years 2012/2013 and 2013/2014 confirmed
Heidelberg continues to assume that there will be a clearly positive result of activities excluding special items for financial year 2012/2013 as a whole. Over one-third of the planned savings from Focus 2012 will already take effect in the current financial year. The expenditures required for this purpose, however, will negatively impact the financial result and the free cash flow in both the current and the forthcoming financial year. Net financial debt will increase year-on-year in the current financial year 2012/2013.

In the coming financial year 2013/2014, the cost reductions resulting from FOCUS 2012 will be fully effective for the first time and result in annual savings of around EUR 180 million. The half-year forecast of achieving a net profit for the year remains unchanged.

“We are well aware that a one-time cost-cutting program such as Focus 2012 alone cannot safeguard the future of Heidelberg. Just like our successful customers, we must be dynamic in focusing our portfolio on profitable segments. We will ensure this through our organization based on business areas. Focus 2012 is highlighting potential for making our structures and processes more efficient on an ongoing basis. We can't fight changes in the industry, so we need to respond quickly and harness the opportunities they present,” said Linzbach.

The full report on the third quarter of financial year 2012/2013, further information about the company, and image material are available at

Source: Heidelberg.


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