Sales, operating result (EBIT) and net profit for the fiscal
year 2007/08 will not meet company's own estimations
Due to the difficult market environment, Heidelberger
Druckmaschinen AG will not reach the predicted figures of the sales
and operating result (EBIT) for fiscal year 2007/2008 (ending March
31, 2008) given on February 5, 2008. According to today's
preliminary calculations, sales of the Heidelberg Group will not
reach the result from the previous year of about 3.8 billion
Euro but will turn out to be about 3 percent lower.
This will also negatively impact the operating result (EBIT)
but cannot be exactly defined on the last day of the fiscal year
yet. As basic line, it will not fall below 260 million Euro.
Accordingly, the net profit will also decrease.
Incoming orders did not meet expectations in the last quarter
of the fiscal year before drupa trade show.
In the course of today's regular Supervisory Board
Meeting, the Management Board presented its measures to reduce the
company's dependence on currency fluctuations and on the
cyclicality in the advertising industry.
In this context, Heidelberg will speed up its expansion of
production facilities and its purchasing activities outside of the
euro region as well as the development of its service business.
These strategic directions will be defined in detail after drupa
trade show and afterwards implemented immediately.
The further business development is regarded as rather
critical in the light of the economic slowdown. In case this
tendency turns out to be still in place after drupa, the company
will undertake adjustments in personnel and structure according to
the demands on capacities.
"The course of the upcoming drupa trade show will not
change the strategic directions mentioned above. However, it will
provide us with important indications of our customers'
investment behaviour," says Bernhard Schreier, CEO of
Heidelberg. "We have immediately broadened our already
implemented measures in order to adjust our cost structures to the
current business development."
For further information:
Heidelberger Druckmaschinen AG
Tel.: +49 (0)6221 92 60 20
Fax: +49 (0)6221 92 51 89