Product category:
Printing Presses and Machinery (New and Used, Service and Repair)
News Release from: Heidelberg
Edited by the Printingtalk Editorial
Team on 19 November 2004
Heidelberg More Buoyant With Half-Year
Up-Turn
In the first six months of financial year 2004/2005 (April 1 to September 30 2004), Heidelberg recorded net sales of 1.37 billion Euros an increase on the previous year's 1.26 billion Euros.
In the first six months of financial year 2004/2005 (April 1 to September 30 2004), Heidelberg recorded net sales of 1.37 billion Euros an increase on the previous year's 1.26 billion Euros In the second quarter alone, sales totaled 769 million Euros, an increase of Euro 167 million or 28 percent on the first quarter
This article was originally published on Printingtalk on 4 Feb 2004 at 8.00am (UK)
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Incoming orders during the first half year were 1.9 billion Euros (previous year 1.55 billion Euros).
"After the difficult last three years, the print media industry is gradually picking up.
The high order levels, boosted by Drupa, will start to show up in the company's sales figures over the next few quarters," said Bernhard Schreier, CEO of the Company.
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The operating result of the Heidelberg Group was 27 million Euros in the second quarter (previous year: 11 million Euros).
In the first half year overall, the Group achieved a positive operating profit of six million Euros.
Heidelberg's chief financial officer, Dr Herbert Meyer, explained: "Despite high non-recurring trade-show costs, we already achieved a positive operating result after six months.
Our efficiency-enhancing measures are taking hold, while increasing sales are delivering profit contributions and putting us on course to meet our targets for the year as a whole." Including the losses of 62 million Euros for the discontinued digital and web systems divisions, there was a loss after taxes for the Heidelberg Group of 59 million Euros for the period under review (previous year: -129 million Euros).
As of September 30 2004, the Heidelberg Group had a workforce of 19,000 people worldwide compared to 23,700 the year before.
Overall, staff levels decreased by around 3,700 in the first half year.
Most of those staff members were transferred to Kodak and Goss when the digital and web systems divisions were sold.
By the end of the financial year, the number of Heidelberg employees will be reduced by a further 300 jobs, as planned.
In the press division (offset printing), sales rose by 10 per cent in the first six months to around 1.2 billion Euros.
In the second quarter, sales stood at 674 million Euros, an increase of 161 million Euros, or more than 30 per cent on first quarter sales.
At 1.7 billion Euros, incoming orders for the first half year saw an increase of around 27 per cent.
Despite the burden of trade-show costs, the operating result for the second quarter was 22 million Euros (same period last year: 14 million Euros).
In the post press division, sales increased in the first six months to 150 million Euros (previous year: 143 million Euros).
Incoming orders rose to 179 million Euros (previous year: 166 million Euros).
The operating result improved to -12 million Euros (same period last year: -22 million Euros).
With the delivery of the first Drupa orders, Heidelberg's sales in the Eastern Europe region rose again for both the quarter and the first half year compared to the same periods last year.
In the North America region, incoming orders increased by 23 per cent to 271 million Euros.
The Graph Expo trade show in October yielded satisfactory results with order levels of $105 million confirming the slight upward trend said the company.
In parallel with the stable economic growth in the Asia/Pacific region, the volume of business is also growing in this area: At Euro 355 million for the first half year, sales were around 12 per cent up on the previous year.
Incoming orders for this region were down on the same quarter last year, because the IGAS trade show that takes place in Tokyo every four years heavily influenced the previous years figures.
Heidelberg said its outlook for the rest of the current financial year would be unchanged, although the company was aiming for an increase in sales of at least fice per cent over the previous year on a comparable basis.
The Company is projecting an improvement in earnings over the previous year.
It said its target is to achieve an operating return on sales including all special effects of about five per cent.
Overall, Heidelberg is projecting net profit in at least the mid-double-digit million Euros range.
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