The restructure, which involves splitting the Group into a three-pronged operation of Equipment, Services and Financial Services, was implemented on April 1. Heidelberg has been able to shed another 450 jobs, in sales and administration, as a result.

The company has also made a further 400 staff redundant at its Wiesloch/Walldorf manufacturing site as it continues to scale back production in light of the ongoing economic uncertainty, particularly in Europe and the US.

This has resulted in a lower break-even figure for the German giant of less than EUR2.5bn, which it hopes to achieve in the next financial year.

Bernhard Schreier, CEO of Heidelberg says, “We are starting the new financial year with a leaner and more efficient organization. This will enable us to also provide our customers all over the world with a faster and more focused service.

“The new structure has paved the way for Heidelberg to be even more powerful in the strategic core businesses of equipment and services,” continued Schreier.

Heidelberg is planning to expand its Heidelberg Services division in the future, as it is relatively independent from economic cycles. The Heidelberg Equipment division aims to build on the company’s market-leading position in the commercial printing segment, and to achieve growth in packaging printing and the associated postpress operations.

Financial Services aims to make financing capex easier, particularly for SMEs. It aims to both provide finance through its own financing companies and to put customers in touch with Heidelberg’s financing partners.

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