Incoming orders rose 43% year-on-year to €786m (A$1.13bn) for the three months ending 30 June, with incoming orders for the UK doubling off the back of the Ipex tradeshow in May and rising 100% in Brazil following the ExpoPrint exhibition in June.

The rise in activity boosted the group’s order backlog to €810m – its highest level since September 2008.

Revenue rose 9.5%, from €514m to €563m, although some €36m of this was attributed to exchange rate movements, while pre-tax figures improved from a loss of €86m to a loss of €56m.

Heidelberg said that it expected a break-even operating result for the year, although it claimed growth in financing costs would put it on course for a “marked net loss again”.

Meanwhile, media reports suggested that Manroland shareholder Allianz Capital Partners had spurned the advances of rival press manufacturer KBA to open merger talks.

Read the original article at www.printweek.com.

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