Heidelberg Second-Quarter, Six-Month Results in Line with Expectations

“As expected, sales and results in the second quarter were much better than in the first. After six months, these figures are therefore in line with the company’s own planning,” said Heidelberg CFO Dirk Kaliebe. “We are on track to achieving the planned savings from the Focus 2012 efficiency program. Thanks to our active asset management, our free cash flow is nearly balanced and net financial debt has remained stable at a low level.”

At €-3 million, free cash flow came close to balancing in the second quarter thanks to consistent asset management (previous year: €-12 million) and was therefore significantly improved on the previous quarter (€-112 million). Net financial debt at the end of the first half-year remained on a par with the level at the end of the previous quarter at €357 million.

As of Sept. 30, 2012, Heidelberg had a workforce of 14,745 worldwide (previous year: 15,782). This represents a year-on-year reduction of around 1,000 staff.

Results by segment and region
Incoming orders in the Heidelberg Equipment segment amounted to €390 million in the second quarter. In the first half-year, they came to €988 million, a 22 percent rise on the previous year. As expected, net sales in this segment increased by 11 percent to €414 million in the second quarter. At the end of the first half-year, sales in this segment matched those of the previous year at €669 million.

In the Heidelberg Services segment, incoming orders in the second quarter came to €275 million. In the first half-year, they amounted to €564 million, a 10 percent rise on the previous year as a result of the drupa trade show. Net sales in this segment were €280 million in the second quarter. In the first half-year, sales rose by 9 percent to €542 million against the previous year due to an increase in net sales from consumables and the service business.

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