Heidelberg Second-Quarter, Six-Month Results in Line with Expectations
HEIDELBERG, GERMANY—Nov. 7, 2012—After the first half of financial year 2012/2013, Heidelberger Druckmaschinen AG (Heidelberg) is on track to achieving its operational objectives. In the second quarter (July 1 to Sept. 30, 2012), incoming orders were on a par with the previous year’s level at €668 million. Compared with the prior-year period, incoming orders in the first half-year rose by €225 million to €1.558 billion (previous year: €1.333 billion) as a result of the drupa industry trade show in May.
At €790 million, the order backlog at the end of the first half-year was around €60 million higher than in the previous year.
Sales in the second quarter climbed to €697 million, 10 percent up on the same period in the previous year (€636 million). At €1.217 billion, net sales in the first half-year were slightly up on the previous year’s level (€1.18 billion), as planned.
“Development in the industry continues to be stable and demand for our products is robust,” said Heidelberg CEO Gerold Linzbach. “Based on the current financial year to date, we are confident we will meet our targets.”
The result of operating activities (EBIT) excluding special items of €1 million was slightly positive in the second quarter as a result of higher sales and therefore higher profit contributions. This is a significant improvement on the first quarter (€-58 million). At €-57 million, EBIT excluding special items in the first half-year was, as expected, down on the previous year’s figure (€-21 million) due to trade show and product launch costs and low profit contributions resulting from the low level of sales in the first quarter. Special items amounted to €22 million in the first half-year and were primarily the result of expenses relating to the Focus 2012 efficiency program.
The financial result improved from €-42 million in the first half of last year to €-37 million in the same period this year. Income before taxes in the second quarter was €-33 million compared with €-19 million in the previous year. Income before taxes in the first half-year fell from €-66 million in the previous year to €-116 million this year. Income after taxes was €-30 million in the second quarter and €-104 million in the first half of the year (previous year: €-66 million).