Strategic reorientation is taking effect – successful start to new financial year 2015/2016 for Heidelberg.

  • Improved order situation and exchange rate movements boost sales and incoming orders in first quarter
  • Operating EBITDA margin increases to around 5 percent
  • EBIT up to € 13 million; income from PSG takeover compensates for special items
  • Higher pension discount rate increases equity ratio to around 15 percent
  • Well on way to achieving targets for financial year

Heidelberger Druckmaschinen AG (Heidelberg) has made a successful start to the new financial year 2015/2016. Provisional calculations for the first quarter (April 1 - June 30, 2015) show that the company’s strategic reorientation is taking effect, with improvements in both sales and the result.

A good trade show in China, additional service business as a result of the PSG takeover, and exchange rate movements have improved incoming orders to around € 700 million (previous year: € 588 million). Thanks to a healthy order backlog at the beginning of the quarter, higher service-related sales, and exchange rate movements, sales also increased – to some € 560 million (previous year: € 435 million).

The operating result was much better than in the previous year. EBITDA were € 46 million (previous year: € 6 million) and EBIT € 28 million (previous year: € –11 million). Income from the takeover of the PSG Group totaling about € 19 million has had a positive impact on both these figures. Excluding the income from the PSG transaction, the operating EBITDA margin rose to around 5 percent (previous year: 1.4 percent). This income compensated for expenditure of around € 15 million resulting from partial retirement agreements concluded in the previous year, which had to be included under special items. EBIT including special items thus improved on balance from € –11 million to € 13 million.

Equity at the end of the quarter increased to approx. € 330 million (end of financial year on March 31, 2015: € 183 million). This corresponds to an equity ratio of around 15 percent (end of financial year: 8 percent) and is due to the considerable increase in the discount rate for pensions in Germany – from 1.7 percent in the previous year to 2.7 percent on the balance sheet date.

“As we start the new financial year, Heidelberg is well on the way to achieving its targets for the year,” said Deputy CEO and CFO Dirk Kaliebe.

Other dates:
The Heidelberg Annual General Meeting will take place on July 24, 2015.

The complete figures for the first quarter of financial year 2015/2016 are due to be published on August 12, 2015.

Further information:
Heidelberger Druckmaschinen AG

Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129

Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120

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

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