Heidelberg Presents Final First-Quarter Figures; Incoming Orders Rise
“As already indicated, weak sales and additional costs led to a negative operating result for the first quarter of the financial year,” explained Heidelberg CFO Dirk Kaliebe. “We are working hard to ensure successful implementation of the package of cost-cutting measures introduced so that the resultant savings can be achieved as planned.”
As of June 30, 2008, the Heidelberg Group had a workforce of 19,737 worldwide (previous quarter: 19,596). The reasons for the increase in the first quarter of financial year 2008/2009 were the acquisition of the Hi-Tech Coatings companies and the initial consolidation of the production site in Qingpu, China. Adjusted to take into account these initial consolidation effects, the workforce fell by 77 in the first quarter.
Results in the Press and Postpress divisions
A successful drupa resulted in healthy incoming orders in the Press Division (offset printing) in the first quarter of the year under review. At 1.030 billion Euro, they were 26 percent up on the previous year’s level (previous year: 817 million Euro). Sales in the first three months totaled 568 million Euro (previous year: 639 million Euro). The poor performance of sales combined with additional costs, including those associated with drupa, led to an operating result of minus 29 million Euro (previous year: 21 million Euro).
Incoming orders in the Postpress Division (finishing) also increased in the first quarter thanks to drupa and were five percent up on the same period of the previous year at 114 million Euro (previous year: 109 million Euro). Quarterly sales amounted to 82 million Euro (previous year: 95 million Euro). The operating result for the period under review was minus 11 million Euro (previous year: minus four million Euro). This was caused by poor sales and the additional costs associated with drupa.
In the EMEA, North America, Latin America and Asia/Pacific regions, incoming orders were up on the previous year’s level thanks to drupa. The improvement was particularly marked in Germany, but France also benefited greatly from orders placed at the trade show. drupa did not have the same impact on the Eastern Europe region as it did, for example, in Central Europe. Sales in all regions were down on the previous year’s level for the first quarter.