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    Breaking News

    Heidelberg Significantly Increases Net Result After Taxes in 3Q 2016/2017

    Operating result (EBITDA) improves to €49 million.

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    02.09.17
    After the third quarter of the 2016/2017 financial year, Heidelberger Druckmaschinen AG is still on course to increase its annual profit as planned. During the third quarter (Oct. 1 to Dec. 31, 2016), the operating result (EBITDA) and the net result after taxes improved further compared to the same quarter of the previous year.
     
    After nine months, sales were still below the previous year’s levels, as expected. A large number of orders placed at drupa for innovative presses with longer delivery times that were presented at and ordered during the trade show will be supplied on schedule in the fourth quarter. The series launch of these products at the end of the financial year will also generate higher sales and a better result than in the previous year.
     
    “The improvements in results in the third quarter show that Heidelberg is on the right course to achieve sustainable profitability,” said Rainer Hundsdörfer, CEO of Heidelberger Druckmaschinen AG. “We anticipate we will further increase our annual profit with a strong final quarter.”
     
    Heidelberg is realigning its organization to accelerate the company’s digital transformation. In the future, there will be a division that will develop, manufacture and supply appropriate digital technologies and products for new business models.
     
    “Heidelberg goes digital. We are getting the company fit for the digital future,” added Hundsdörfer. “To do that, we will develop and roll out our own innovative business ideas. However, we will also be strengthening our position in this area through acquisitions.”
     
    Compared to the previous quarter of the current financial year, sales and the result showed further improvement in the third quarter. Sales rose from €586 million in the second quarter to €608 million (same quarter of previous year: €640 million). After nine months, the total sales of €1.680 billion were still below the previous year’s level (€1.802 billion) due to the launch of series production for the drupa innovations at the end of the financial year. Over the same period, incoming orders at €1.990 billion were approximately 4.5% higher than the previous year’s value (€1.904 billion) and demonstrate the keen interest customers are showing in the digitization solutions from Heidelberg. At €739 million, the order backlog was around 26% up on the previous year’s figure (€586 million). As a result, Heidelberg has a good platform for achieving the significant sales growth planned in the fourth quarter.
     
    EBITDA excluding special items improved to €49 million in the third quarter (previous year: €40 million). The total figure after nine months was €94 million (previous year: €119 million). At €-2 million, special items in the quarter under review equaled the figure for the same quarter of the previous year (€-2 million). The total figure after nine months was €-8 million (previous year: €-24 million). The financial result for the period under review matched the previous year’s level at €-42 million. Consequently, the net result after taxes in the quarter under review increased substantially to €18 million (previous year: €7 million). At €-10 million for the nine-month period, it was on a par with the corresponding period of the previous year (€-7 million).
     
    Free cash flow in the third quarter was slightly negative at €-10 million, and overall, after nine months, it was also at €-10 million. The net financial debt at €282 million remained stable (June 30, 2016: €276 million), and the leverage continued to be below the target value of 2 at 1.7.
     
    “We have the financial strength to actively shape our route into the digital world,” said Dirk Kaliebe, CFO. “The balanced financing framework also gives us the freedom to drive forward new business models through targeted acquisitions.”
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