Heidelberger Druckmaschinen AG reports its current fiscal year (April 1 to June 30, 2017) began with an increase in sales and earnings; and that it is on course to achieve its annual targets. The company highlighted its ambitions to consolidate a new corporate culture and return to growth with the motto “Heidelberg goes digital.”
“We are making good progress in transforming Heidelberg into a digital company,” said Rainer Hundsdörfer, CEO of Heidelberg. “We have already had our initial successes in the first quarter, thanks to our new digital presses and two constructive acquisitions.”
During the first quarter of the current financial year, Heidelberg sales were slightly higher than the previous year at €495 million (same quarter of previous year was €486 million) and its net result after taxes improved by more than €20 million to €–16 million. The sales increase, explains the company, was attributable primarily to Western Europe and China.
At €629 million, incoming orders were below those of the same quarter of the previous year (€804 million), which saw a particularly high level of incoming orders from the drupa trade show. The order backlog increased by over 20 percent from €497 million at the end of the financial year to €603 million as at June 30, 2017.
Heidelberg sees itself as being on course to achieve the company targets for 2022 that were announced in June: Company sales ~€3 billion; EBITDA of €250 to €300 million; and net result greater than €100 million.
By taking over software supplier DOCUFY, Heidelberg states it is reinforcing the new digital platforms business area and expanding its Industry 4.0 portfolio. In the segment of consumables, business with coatings and pressroom chemicals has been further expanded in the EMEA region, explains Heidelberg, following the acquisition of this area from Fujifilm.
Profitability, as expressed in EBITDA and EBIT, increased in the quarter under review compared to the previous year’s values. At €14 million, Heidelberg explains EBITDA was far better than in the same quarter of the previous year (€1 million), while EBIT amounted to €–3 million (previous year: €–16 million).
Due to lower financing costs, Heidelberg explains the financial result improved to €–13 million (same quarter of previous year: €–16 million). Including income taxes, the net result after taxes of €–16 million was an improvement over the previous year’s figure (€–37 million). Free cash flow in the first three months was negative at €–13 million (previous year: €6 million).
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