Heidelberg publishes preliminary figures for financial year 2009/10

• Incoming orders of EUR 678 million in the fourth quarter up on previous quarter and well above Q4 of previous year
• At EUR 715 million, Q4 sales are at their highest level during the financial year
• Operating result excluding special items EUR 11 million in Q4
• Total sales in financial year 2009/10 of EUR 2.306 billion

As expected, Heidelberger Druckmaschinen AG (Heidelberg) recorded a significant fall in sales and results in financial year 2009/10 (April 1, 2009 to March 31, 2010) due to the overall cautious investment behavior in the print media industry. The company's own forecast made in October 2009 has been borne out.
 
At a total of EUR 2.371 billion, preliminary incoming orders were below the previous year's figure of EUR 2.906 billion but showed a marked upward trend in the second half of the financial year. Preliminary sales by the Heidelberg Group fell to EUR 2.306 billion (previous year: EUR 2.999 billion). The savings from the package of cost-cutting measures were achieved ahead of schedule and mitigated the results significantly, particularly in the second half of the year. They were therefore able in large part to compensate for the shortfall in profit contributions resulting from the substantial decrease in sales. The preliminary operating result, excluding special items, came to EUR -130 million at the end of the financial year (previous year: EUR -49 million) and was thus in line with the most recent forecast. Special items for restructuring measures amounted to a total of EUR 28 million during the financial year as a whole.  

The upward trend that was already apparent within the financial year as a whole continued in the fourth quarter (January 1 to March 31, 2010). At EUR 678 million, preliminary incoming orders in the fourth quarter were up on the level of the previous quarter (EUR 609 million) and well above the figure for the same quarter of the previous year (EUR 474 million). Preliminary sales rose to EUR 715 million (previous quarter: EUR 578 million). The preliminary operating result excluding special items improved, rising to EUR 11 million from EUR -13 million in the third quarter. In the fourth quarter alone, special items amounted to EUR 48 million. The preliminary free cash flow was EUR -46 million (previous quarter: EUR 3 million). In the financial year as a whole the preliminary free cash flow improved to EUR -62 million compared to the previous year (previous year: EUR -201 million).

Employee numbers fell by a further 1,524 in the fourth quarter of 2009/10. As of March 31, 2010, the Heidelberg Group thus had a workforce of 16,496 worldwide (previous year: 18,926).

For further information:
Heidelberger Druckmaschinen AG
Investor Relations
Andreas Trösch
Tel: +49 (0)6221- 92 6020
Fax: +49 (0)6221- 92 5189
E-mail: Andreas.Troesch@Heidelberg.com


Heidelberger Druckmaschinen

A technology provider and partner in the print media industry

Heidelberger Druckmaschinen AG (Heidelberg) is with its sheetfed offset printing machines one of the leading solution providers for the print media industry. All over the world, the name Heidelberg is synonymous with state-of-the art technology, top quality, and closeness to the customer. The core business of this technology group covers the whole value-added and process chain for the 35 x 50 cm (13.78 x 19.69 in) to 121 x 162 cm (47.64 x 63.78 in) format classes in the sheetfed offset sector.

Heidelberg develops and produces precision printing presses, platesetters, postpress equipment, and software for integrating all the printshop processes. Environmental protection has an enduring importance in this regard. Solutions for the development, production, and utilization of presses help to conserve resources, reduce emissions, and cut wastage. The Heidelberg portfolio also provides general and consulting services ranging from spare parts and consumables to the sale of remarketed equipment, and training at the Print Media Academy.

Based in Heidelberg, Germany, with development and production sites in seven countries and around 250 sales offices across the globe, the company supports around 200,000 customers worldwide. All Heidelberg presses destined for the world market are manufactured at the Wiesloch-Walldorf site in line with strict quality standards. Standardized presses in all standard format classes and folding machines for the Chinese market are produced by Heidelberg in Qingpu near Shanghai.

Heidelberg presses worldwide produce high-quality print products such as business cards, brochures, posters, and folding cartons.

In financial year 2008/2009, Heidelberg recorded sales of EUR 2.999 billion. As at March 31, 2009, the Heidelberg Group had a workforce of 18,926 worldwide, including 707 trainees.


Important Note
This press release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future development and results may deviate substantially from these forward-looking statements due to various factors, such as changes in the macro-economic situation, in the exchange rates, in the interest rates and in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft gives no warranty and does not assume liability for any damages in case the future development and the projected results do not correspond with the forward-looking statements contained in this press release