Heidelberg has released its first half-year results, saying that its Print Solutions and Packaging Solutions segments have increased their sales in the first half-year.
The company said its Packaging Solutions division enjoyed particularly strong growth of just under 30 per cent, following more modest progress in the previous year. The segment enjoyed particularly strong growth, from €415 million in the previous year to €535 million.
In addition, it significantly improved its sales and result for the first half-year. At €1.12 billion, sales for the first half-year were reported around 14 per cent up on the previous year.
Due to the higher sales, it said its EBITDA improved to €68 million in the second quarter. This exceeded the previous year’s figure of €38 million.
Its net result after taxes after six months climbed from €13 million to €44 million, increasing from €27 million to €39 million in the second quarter. Just six months into the year, Heidelberg said this exceeds the level for the whole of the previous year.
Heidelberg said in the second quarter, incoming orders also continued rising, to some €622 million (up five per cent).
“Despite a difficult environment, we have successfully overcome the challenges in the first half-year and achieved further growth. We remain cautious, though, because it’s not yet entirely clear how the global situation will develop,” Heidelberg CEO Dr. Ludwin Monz said.
“During the first half-year, Heidelberg has laid a good foundation for achieving our financial targets. With this in mind, we are focusing on maintaining our supply chains, safeguarding our margin through higher sales prices, and continuing our cost discipline.”
In addition, the company said after six months, its free cash flow amounted to -€13 million (from €74 million the previous year). It added that this lower figure is mainly due to the usual production-related increase in inventories.
“We are seeing that the transformation is having an impact, and HEIDELBERG is in good shape for the future. In the first half-year, we were able to further improve our baseline,” Heidelberg CFO Marcus A. Wassenberg said.
“Our low net financial debt and improved equity ratio places us on a stable footing.”
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