Based on preliminary calculations, Heidelberg achieved an increase in sales in the fourth quarter of the year (January 1, 2012 to March 31, 2012) compared to the previous year – from €745m to around €780m.
The preliminary result of operating activities excluding special items continued to improve as the year progressed, reaching around €20m in the quarter under review (previous year: €30m). However the higher provision for risks had a negative impact.
The company says that as expected, preliminary incoming orders in the fourth quarter were down on the previous year’s level of €637m at just over €570m. Based on previous experience, this is because print shops are holding back with orders in the quarter prior to drupa.
Bernhard Schreier, CEO of Heidelberg says, “Sales in the final quarter were encouragingly high. The operating result continued to improve as the year went on. However, due to the necessary balance sheet provision, we were unable to achieve our target for the year as a whole.
“drupa has come at exactly the right time and we expect this key trade show to give the industry a favorable impetus. Customer response to the numerous innovations at the show is very promising so far.”
The preliminary free cash flow for the fourth quarter developed favourably to around €30m (previous year: –€16m) and was therefore better than expected by the company.
Also commenting, Dirk Kaliebe, CFO of Heidelberg says, “Thanks to consistent asset management, we achieved a positive free cash flow also for the past financial year and managed to keep net debt at a low level.
In March, Heidelberg started implementing its “Focus 2012” efficiency programme, which is intended to achieve sustainable savings of 180m and an operating result excluding special items of around €150m in financial year 2013/2014.
As of March 31, 2012, the Heidelberg Group had a workforce of approximately 15,400 worldwide.
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