Heidelberg Reports Orders Stabilize, Revenue Lower in First Quarter
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"Our package of cost-cutting measures is proceeding according to plan," said company CFO Dirk Kaliebe. "In the first three months of the financial year, we achieved a further reduction in personnel costs compared to the previous year, cut inventory levels, lowered research and development expenditure, and cut back significantly on investments. These savings contribute to compensating the impact falling sales are having on the result," he added.
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