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

“The Focus 2012 efficiency program is progressing according to plan and is significantly improving our profitability. We have also made good progress with further reducing the company’s debt. The clearly positive free cash flow shows we are definitely heading in the right direction,” said Heidelberg CFO Dirk Kaliebe.

Nine-month figures in line with planning

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.

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