Heidelberg Has Successful Start to New Financial Year

Heidelberger Druckmaschinen AG has made a successful start to the new financial year 2015/2016. Provisional calculations for the first quarter (April 1 – June 30, 2015) show that the company’s strategic reorientation is taking effect, with improvements in both sales and the result.
 
A good trade show in China, additional service business as a result of the PSG takeover, and exchange rate movements have improved incoming orders to around €700 million (previous year: €588 million). Thanks to a healthy order backlog at the beginning of the quarter, higher service-related sales, and exchange rate movements, sales also increased to some €560 million (previous year: €435 million).
 
The operating result was much better than in the previous year. EBITDA were €46 million (previous year: €6 million) and EBIT €28 million (previous year: €–11 million). Income from the takeover of the PSG Group totaling about €19 million has had a positive impact on both these figures. Excluding the income from the PSG transaction, the operating EBITDA margin rose to around 5% (previous year: 1.4%). This income compensated for expenditure of around €15 million resulting from partial retirement agreements concluded in the previous year, which had to be included under special items. EBIT including special items thus improved on balance from €–11 million to €13 million.
 
“As we start the new financial year, Heidelberg is well on the way to achieving its targets for the year,” said Deputy CEO and CFO Dirk Kaliebe.