Heidelberg has published its Q4 and end of year figures for last year showing its best quarterly sales and result since 2008, albeit based on preliminary figures. This means that Heidelberg has achieved its stated objective for the year as a whole, indicating that its strategic move to embrace digital technology is paying off.
Net profit after taxes for the final quarter have risen to €36 million, up from €28m the previous year. The free cash flow has gone up to €24 million.
Sales after 12 months were slightly up at €2.524 billion but in the final quarter alone, sales increased by just under 20 percent to €845 million. Incoming orders were also up slightly to €2.593 billion.
However, Heidelberg had expected higher sales but found customers putting off orders to another year. On the other hand, the debt burden fell from €281m to €252m.
Earnings before Interest, tax, depreciation and amortization (EBITDA) came in at €179m, down on last year’s figure of €189m. Operating profit (EBITDA) for the fourth quarter was €85m, 20 percent higher than last year’s quarter. The net result after taxes for the fourth quarter was €46m, up from last year’s Q4 of €35m. However, the net result after taxes for the whole year was €36m, albeit that this was an improvement on the 2015 year figure of €28m.
CEO Rainer Hundsdörfer commented: “We now need to gear our strategy towards becoming a digital company focused on customer needs. This will also bring the expected growth in sales and a further substantial improvement in profitability in the future.”
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