Heidelberg Achieves Significant Improvement in Result for Q1 of 2013/2014
As expected, due to the net loss for the quarter, equity at June 30, 2013 had decreased by € 37 million to € 364 million compared to the level recorded at March 31, 2013. The equity ratio was 16 percent (previous year: 17 percent). Along with the planned return to profitability, Heidelberg is endeavoring to achieve a sustainable improvement in its equity ratio in the medium term.
As planned, the workforce as of June 30, 2013 fell to 13,669 (same quarter of the previous year: 14,899). The aim is to reduce the Group's headcount to less than 13,500 by mid-2014 at the latest.
Outlook remains unchanged: Aiming for net profit in financial year 2013/2014
The outlook for financial year 2013/2014 and the subsequent years remains unchanged. Economic uncertainties and risks persist, especially in the emerging markets of China and Brazil that are important to Heidelberg. As in previous years, Heidelberg is expecting its sales to pick up in the second half of the financial year. Accordingly, the company's aim is to match the previous year's Group sales in financial year 2013/2014 as a whole. The expected distribution of sales between the first and second half of the year will also influence the operating result in the course of the year. This was still negative in the first quarter but nevertheless was a big improvement on the figure for the previous year. The company expects the result of operating activities excluding special items to continue to improve over the coming quarters and be considerably higher for the year as a whole than in the previous year. Further one-time expenses for Focus 2012 will be incurred during the current financial year. The financial result will be slightly better than in the previous year. With the measures it has introduced, the company still aims at achieving a net profit in financial year 2013/2014.