Preliminary Figures for the 2001/2002 Fiscal Year
05/13/2002
The results recorded by Heidelberger Druckmaschinen AG (Heidelberg)
for the 2001/2002 fiscal year ended March 31, 2002 were in line
with expectations. Sales by the Heidelberg Group of around five
billion Euro were some five percent down on the record level of the
previous year (5.3 billion Euro). The operating profit for the year
was 356 million Euro (previous year: 506 million Euro) and the
preliminary annual net profits 201 million Euro (previous year: 283
million Euro). "We have thus reached the targets for the
2001/2002 fiscal year that we set ourselves last October",
stated Bernhard Schreier, Heidelberg's Chief Executive Officer
. "The drop in sales and profits has been shaped by the world
economic slowdown, which has been particularly prevalent in the
US." Mr. Schreier nevertheless added that he was satisfied
with the company's progress in what are difficult times.
Orders received for the 2001/2002 fiscal year fell just short of 4.6 billion Euro (previous year: 5.5 billion Euro), with levels stabilizing in the fourth quarter. "Orders received at Ipex in Birmingham in April 2002 were worth around 260 million Euro and gave us a good start to the new fiscal year", explained Chief Financial Officer Dr. Herbert Meyer. Nevertheless, he stated, the world economy was still unlikely to experience any tangible recovery before the second half of 2002 and Heidelberg as well as the entire industry would then start feeling the benefit.
As of March 31, 2002, the Heidelberg Group had a workforce of some 25,500 worldwide.
Different rates of progress in the divisions and regions
Sales by the Digital division incl. Prepress fell by some 15 percent to 648 million Euro (previous year: 763 million Euro). The drop in sales and the further expansion of the sales and service network in the future growth market of color digital printing resulted in the operating loss increasing from 64 million Euro to 107 million Euro.
Sales in the Web Systems division were 691 million Euro (previous year: 801 million Euro), almost 14 percent below the previous year's figure. The decline in sales and the restructuring measures carried out in the US contributed to an operating loss of 122 million Euro. In the fourth quarter, this division's operating result reached break-even.
Sales in the Sheetfed division were stable at 3.3 billion Euro. The operating profit climbed five percent to 569 million Euro (previous year: 543 million Euro).
The Finishing division recorded sales for the year of 378 million Euro (previous year: 408 million Euro). This decrease in sales impacted on the operating profit which fell from 27 million Euro to 16 million Euro.
Sales in some regions were strongly affected by the cooldown in the global economy. Customers' reluctance to invest was particularly apparent in the NAFTA region. As a result, Heidelberg Group sales in this region fell by 18 percent to 1.5 billion Euro (previous year: 1.8 billion Euro). In contrast, sales in Central and Eastern Europe remained at nearly the same high level as the previous year. Business in the Asia/Pacific region (especially China), Central and South America and the Middle East region was very pleasing, with sales up by as much as 17 percent.
Heidelberg will announce further details of the 2001/2002 fiscal year at its Annual Investors' and Analysts' Conference on July 2, 2002 in Frankfurt.
For further information:
Heidelberger Druckmaschinen AG
Investor Relations
Dirk Kaliebe
Tel: +49 (0)6221 92 60 20
Fax: +49 (0)6221 92 60 61
E-mail: dirk.kaliebe@heidelberg.com
Orders received for the 2001/2002 fiscal year fell just short of 4.6 billion Euro (previous year: 5.5 billion Euro), with levels stabilizing in the fourth quarter. "Orders received at Ipex in Birmingham in April 2002 were worth around 260 million Euro and gave us a good start to the new fiscal year", explained Chief Financial Officer Dr. Herbert Meyer. Nevertheless, he stated, the world economy was still unlikely to experience any tangible recovery before the second half of 2002 and Heidelberg as well as the entire industry would then start feeling the benefit.
As of March 31, 2002, the Heidelberg Group had a workforce of some 25,500 worldwide.
Different rates of progress in the divisions and regions
Sales by the Digital division incl. Prepress fell by some 15 percent to 648 million Euro (previous year: 763 million Euro). The drop in sales and the further expansion of the sales and service network in the future growth market of color digital printing resulted in the operating loss increasing from 64 million Euro to 107 million Euro.
Sales in the Web Systems division were 691 million Euro (previous year: 801 million Euro), almost 14 percent below the previous year's figure. The decline in sales and the restructuring measures carried out in the US contributed to an operating loss of 122 million Euro. In the fourth quarter, this division's operating result reached break-even.
Sales in the Sheetfed division were stable at 3.3 billion Euro. The operating profit climbed five percent to 569 million Euro (previous year: 543 million Euro).
The Finishing division recorded sales for the year of 378 million Euro (previous year: 408 million Euro). This decrease in sales impacted on the operating profit which fell from 27 million Euro to 16 million Euro.
Sales in some regions were strongly affected by the cooldown in the global economy. Customers' reluctance to invest was particularly apparent in the NAFTA region. As a result, Heidelberg Group sales in this region fell by 18 percent to 1.5 billion Euro (previous year: 1.8 billion Euro). In contrast, sales in Central and Eastern Europe remained at nearly the same high level as the previous year. Business in the Asia/Pacific region (especially China), Central and South America and the Middle East region was very pleasing, with sales up by as much as 17 percent.
Heidelberg will announce further details of the 2001/2002 fiscal year at its Annual Investors' and Analysts' Conference on July 2, 2002 in Frankfurt.
For further information:
Heidelberger Druckmaschinen AG
Investor Relations
Dirk Kaliebe
Tel: +49 (0)6221 92 60 20
Fax: +49 (0)6221 92 60 61
E-mail: dirk.kaliebe@heidelberg.com
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
