Heidelberg Reports Orders Stabilize, Revenue Lower in First Quarter
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Due to the persisting difficult underlying conditions, Heidelberg is still predicting that sales for financial year 2009/2010 as a whole will be below the very low level of financial year 2008/2009. Although the cost-cutting measures already initiated will help the company lower the break-even level as quickly as possible, the sharp rise in refinancing costs, which also include the cost of the guarantees in the Economic Stimulus Package II, will weigh heavily on the financial result. Consequently, Heidelberg is expecting a negative result for financial year 2009/2010.
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