The press giant’s preliminary figures outlined that incoming orders in the first quarter were up from €550m during the same quarter of the previous year, and also above the previous quarter (€678m).

Preliminary free cash flow will be between €50m and €60m, far exceeding the same period of the previous year (€29m).

Heidelberg continues that the positive development in free cash flow is largely due to an improved working capital management, including higher customer prepayments and optimised payment flow for capital expenditure.

The company adds that thanks to exchange rate movements, preliminary sales in the first quarter are up slightly to approximately €560m, compared to €514m the previous year.

Heidelberg continues that the preliminary operating result (excluding special items) in the first quarter will also improve on the €63m loss the year before.

The company will publish further details August 10

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