Encouraging First Quarter But No Dividend

Heidelberg is expected to announce encouraging sales figures for the first quarter of its new financial year at its annual general meeting even though no dividend was to be paid.

Heidelberg is expected to announce encouraging sales figures for the first quarter of its new financial year at its annual general meeting even though no dividend was to be paid on the year just completed.

The company's chief executive officer, Bernhard Schreier gave preliminary figures for incoming orders and sales for the quarter April 1 to June 30.

Incoming orders in the first three months of fiscal year 2004-2005 are just under 1.3 billion Euros (previous year 783m Euros), thanks to contracts concluded at the Drupa trade show.

Schreier said that provided an excellent platform for sales in the coming quarters.

Preliminary sales in the first three months of fiscal year 2004-2005 are 710m Euros (741m Euros in 2003-2004).

Excluding sales from the web systems and digital divisions, which were divested during the current fiscal year, preliminary sales are 602m Euros, slightly above the comparable figure for the previous year of 595m Euros.

The full financial statements for the first quarter will be published on August 9.

Jan Zilius, a member of the executive board of RWE AG, was to resign from the Heidelberg supervisory board with effect from the end of the meeting.

The current chairman of the supervisory board, Dr Klaus Sturany, is also to resign his post when all the seats on the supervisory board are occupied again.

The chief financial officer of RWE AG will remain a member of the Heidelberg supervisory board.

Following his forthcoming appointment by the courts to the supervisory board Dr Mark Wossner is to replace Klaus Sturany as its chairman.

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