Company scales down Management Board and introduces
functional organizational structure
Heidelberg will cut down workforce by up to 1,000 jobs
Heidelberg to divest Web activities; negotiations making
Digital activities to be repositioned
One-time-costs for alignments estimated at 400 Million Euros -
Heidelberg sees significantly improved profitability and cash
flow after re-alignment
Today, the Supervisory Board of Heidelberger Druckmaschinen AG
agreed to a proposal by Heidelberg's Management Board to streamline
its organisation and divest its activities in research, development
and production of web offset presses. Heidelberg's Management is in
negotiations with potential partners for its Web Systems business,
which include close cooperation for the installed base and future
In the Digital division, Heidelberg must adapt capacities and
will refocus its activities. The Management Board will present an
appropriate solution by the end of the current fiscal year.
The Postpress division will become a separate entity,
focusing entirely on the requirements of the postpress equipment
All this allows Heidelberg to concentrate its resources on
sheetfed offset printing and all its related value chain, including
prepress, press, postpress and workflow management. Heidelberg's
worldwide sales and service network will continue to offer
competent support and consulting for Heidelberg's own products
and products from first class partners to all its customers.
"Heidelberg will continue to provide products for
premium quality print results. Our target markets will mainly be
commercial printers as well as packaging and label printing",
said Bernhard Schreier, CEO of Heidelberg.
As a consequence of all these changes, Heidelberg will adapt
its organizational structure. The divisional structure will be
streamlined to a leaner functional organization, leading to a
further reduction of the workforce by up to 1,000 employees
Within the Board, Bernhard Schreier as CEO will additionally
be responsible for the worldwide sales and services network, as
well as for R&D and operations. Dr. Klaus Spiegel will assume
responsibility for the entire product portfolio and marketing, and
Dr. Herbert Meyer will remain CFO.
Wolfgang Pfizenmaier (56) and Holger Reichardt (49) will
resign from the Management Board in mutual and friendly agreement
with the Supervisory Board.
The new focus will influence the coming year-end financials.
While sales and operating profit targets for the financial year
remain unchanged, additional one-time-costs of up to 400 million
Euro will arise for restructuring and, to a greater part, book
losses in connection with the planned divestment of Web Systems and
the repositioning of Digital and Postpress. "Overall, the new
focus will significantly improve our profitability and cash flow in
the short and medium term, and thus enables us to achieve the
financial targets we have set for the company", said Herbert
Meyer, CFO of Heidelberg.