Heidelberger Druckmaschinen AG: Sales in First Half Year Slightly Up; Half-Year Profits Expected to Be Down on Previous Year
10/22/2001
The initial repercussions of the events in the USA in September are reflected in the provisional figures for the first half year up to September 30. The company forecasts weaker figures for the second half year.
Following a good first quarter (April 1 - June 30) for fiscal 2001/02 (sales up eight percent and operating result up just under 22 percent), the events in the USA had a clear impact on Heidelberger Druckmaschinen AG's second quarter results. The provisional figures indicate that Heidelberg Group sales for the first half of the year are 2.3 billion Euro, 4.8 percent above the level for the same period last year (just under 2.2 billion Euro). The operating profit is expected to be in the region of 110 million Euro, i.e. 43 million Euro or 28 percent below the half-year result for fiscal 2000/2001. The profit after tax is expected to be 62 million Euro, 20 million Euro less than in the first half of the previous fiscal year.
Sales in September were 100 million Euro down on expectations, this particularly affecting the USA and the Web Systems division (with high US component). This is some 30 percent below last year's sales figure and around 65 million Euro below last year's operating result (previous year: loss of 24 million Euro). Sales in the Sheetfed division of 1.57 billion Euro (previous year: 1.35 billion Euro) and an operating result of around 260 million Euro (previous year: 212 million Euro) are in line with expectations, as are the sales figures and anticipated results of the other divisions.
A comparison of the regions shows just how severely the current situation is being impacted by the economic developments in the USA. Sales in all regions developed well, with the exception of the NAFTA region, where sales levels fell by 137 million Euro or 18.9 percent compared with the previous year.
In its sales and results forecasts for the year as a whole, the company had previously assumed that the economic recovery in the USA would begin in the second half of the current fiscal year. Developments now suggest there will be an economic downturn in the USA and that this may have consequences for business in Europe and Asia. As a result, sales in the second half of the year are expected to be further down on the previous year than hitherto anticipated.
Despite the fact that cost-cutting measures were introduced at an early date and will save around 100 million Euro in the second half of this year, it appears as things presently stand that the results for the current year will fall below those of the previous year. Against this backdrop, the company expects profits after tax for the year as a whole to lie between 200 and 220 million Euro.
The half-year results of Heidelberger Druckmaschinen AG will be published on November 9, 2001.
For further information please contact:
Heidelberger Druckmaschinen AG
Investor Relations
Dirk Kaliebe
Tel.: +49 (0)6221 92 60 20
Fax: +49 (0)6221 92 60 61
E-mail:
Company Profile
Over the course of its more than 150-year history, Heidelberg has grown from a traditional printing press manufacturer to become the world's largest solutions provider for the print media industry. With its seamlessly integrated hardware and software solutions, it has established a commanding lead over other market players. Heidelberg is a one-stop supplier of everything from prepress solutions to a wide range of products for printing and finishing processes, relevant training and accompanying services. More
