Heidelberg Reports Orders Stabilize, Revenue Lower in First Quarter
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As a result of the global slump in demand in the industry, the Heidelberg Group's order backlog as at June 30, 2009 was 53 percent below the previous year's value of EUR 1.298 billion at EUR 616 million.
"Incoming orders stabilized slightly in the first quarter compared with recent months, providing an initial indication that the downturn is leveling out. However, we still need to wait and see how things develop," stated Bernhard Schreier, CEO of Heidelberger Druckmaschinen AG.
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