Heidelberg Announces Future Direction at Annual General Meeting
HEIDELBERG, Germany — July 28, 2017 — Around 1,600 shareholders participated in the Annual General Meeting of Heidelberger Druckmaschinen AG (Heidelberg) for financial year 2016/2017, which was held at the Congress Center Rosengarten in Mannheim yesterday. Close to 30% of the company’s share capital was represented at the event.
The Management Board discussed the company’s strategy and the figures for the past financial year (April 1, 2016 through March 31, 2017) with the shareholders. CEO Rainer Hundsdörfer presented “Heidelberg goes Digital!” in his speech, outlining the future direction for Heidelberg with a strategic focus on technology leadership, digital transformation, and operational excellence.
Following the successful turnaround with a return to sustained profitability, Heidelberg will now also be aiming for growth. Group sales of around €3 billion are being targeted by 2022 through a large number of specific measures. The company has set its sights on a further significant improvement in profitability, with EBITDA of €250 to 300 million and a net profit after taxes of over €100 million. Sales in financial year 2016/2017 were just over €2.5 billion, EBITDA €179 million, and the net result after taxes €36 million.
Approval from the company’s shareholders was needed for six of the seven items on the AGM agenda, including Oliver Jung’s election to the Supervisory Board. All items on the agenda were approved with a clear majority.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.