Heidelberg Q1 figures show strong growth

Heidelberg has published the figures for its first quarter of its current financial year up to 30 June 2016. Not surprisingly, the company drew a considerable boost from the Drupa show with incoming orders up to €804 million.

The company now has an order backlog of €768m, a 67 percent jump on €460m from the previous quarter, which should give the company a solid basis for the rest of the year. Much of this is down to Heidelberg having got the right product mix, with a range of digital printers including the new Primefire 106 B1 inkjet press, as well as highly automated offset presses. Indeed, Heidelberg’s flagship press – the Speedmaster XL 106 – turned out to be the most sold machine at the show. This was complemented by a new focus on cloud-based service and analytics.

CEO Gerold Linzbach commented: “Our showing at drupa confirmed that we’re on the right track with our strategic realignment based on the growth segments of digital and services. We’re focusing on the right areas to achieve our future objectives.”

However, it was not all good news with the Earnings before interest, taxes, depreciation and amorisation, or EBITDA, down from €46m last year to just €1m. Heidelberg has attributed this to the usual drop in sales in the run-up to a big trade show, coupled with drupa costs of approximately €10 million, and higher personnel costs due to collective wage agreements. Consequently, Heidelberg ended the quarter with a net loss after taxes of €–37m against €–4 million in the previous year. Nonetheless, free cash flow improved from €–35m in the previous year to €6m.

Heidelberg is still forecasting a growth in sales of up to 4 percent for the end of the year and is actively seeking to reduce its interest debt burden. Overall, the company is aiming for a moderate increase in its net result after taxes against the previous year.





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