“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.
The Germany-based press manufacturer has made a successful start to a very challenging financial year 2015/2016. Provisional calculations for the first quarter (April 1 – June 30, 2015) show that the company’s strategic re-orientation is taking effect, with improvements in both sales and operating results. 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 about € 560 million (previous year: € 435 million).
The operating result was also much better than in the previous year. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) 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, said the OEM. Excluding the income from the PSG transaction, the operating EBITDA margin rose to around 5% (previous year: 1.4%). This income compensated for expenditures of about € 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.
Heidelberg has successful start to new financial year
