Heidelberg is eyeing a €3bn sales target by 2020, up from the current €2.5bn, as the revitalised heavy metal group looks to the digital world for its future revenue.

The world’s number one offset press manufacturer says it has managed a successful turnaround since the dark days post GFC, where it had to be bailed out by state and federal governments following the collapse in press sales, with a return to sustained profitability.

Rainer Hundsdörfer, CEO at Heidelberg presented the company’s digital strategy at the company’s AGM, outlining future direction for Heidelberg with a strategic focus on technology leadership, digital transformation, and operational excellence.

The company has set its sights on a further significant improvement in profitability, with EBITDA of €250 to €300m and a net profit after taxes of over €100m. Sales in financial year 2016-2017 were just over €2.5bn, EBITDA €179m, and the net result after taxes €36m.

Heidelberg’s digital strategy was rewarded on June 30 when Investors have already backed Heidelberg’s digial strategy, converting 95 percent of a €60m mature convertible bond into company shares at the end of June, taking down debt and interest costs.

Its turnaround strategy with a focus on digital, partnerships and new market opportunities was initiated by former CEO Dr Gerold Linzbach. It is still market leader in offset presses, but the numbers manufactured are far less than in the pre-GFC era.

Linzbach initiated a partnership with Fujifilm inkjet, which has resulted in what is likely to be the world’s first B1 sheetfed inkjet press, the Primefire 106, currently in beta testing. 

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