Heidelberg releases half year results

Heidelberg, which reports full year figures at the end of March, has now released its half year figures for the 2015/2016 financial year. These show sales of €1.162 billion, up from €996m in the first half of the previous year, with earnings before interest, tax, depreciation and amortisation of €79m.

Heidelberg says that €68m comes from the positive effect of exchange rates. Sales were up in all regions except Eastern Europe, where they remained stable. Incoming orders in the period improved to €1,323 billion up from last year’s €1,167 billion.

Despite this, Heidelberg still posted a loss of €30m, an improvement over last year’s €33m loss. The net financial debt at September 30 increased slightly to €284 million from €256 million at the end of March.

Heidelberg is concentrating on its growth areas – services and digital. The company has already launched a digital hybrid label press this year and an industrial print solution, the Jetmaster Dimension. It’s also gearing up to launch a B1 inkjet press next year in time for Drupa.

Heidelberg has said that it is planning further acquisitions in the service and consumables sector, following its successful take over of PSG earlier this year. The company expects services and consumables to account for around 50 percent of Group sales in the medium term.

Heidelberg is continuing to restructure its sheetfed business, having relocated the company headquarters and the Print Media Center Commercial from Heidelberg to Wiesloch-Walldorf. The proceeds from the sale of the headquarters in Heidelberg will be posted as income in the second half of the year.

Dirk Kaliebe, CFO and Deputy CEO of the company, said that he expected a further increase in sales in the second half of the year, noting: “The reorientation of Heidelberg has also made us more flexible, which means we are better able to respond to market fluctuations and can further improve profitability.”

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