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Printing Presses and Machinery (New and Used, Service and Repair)
News Release from: Heidelberg
Edited by the Printingtalk Editorial
Team on 07 November 2007
Heidelberg Maintains Sales Results
Despite Decline
Even though the Euro has been strong and there has been a decline in orders Heidelberg has recorded sales of EUR1.639 billion for the first six months of the financial year.
That result is almost identical to last year's level of EUR1.628 billion for the same period in 2006 After adjustments for exchange rate movements, Heidelberg said that the performance would be three per cent up on the previous year
This article was originally published on Printingtalk on 6 Jun 2003 at 8.00am (UK)
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However, group profit was down on the same period for 2006 - EUR96 million compared to EUR118 million.
Incoming orders in the period under review amounted to EUR1.866 billion (EUR1.996 billion in 2006).
The decline compared to the same period the previous year is attributable to the volume of orders received at the Ipex 2006 exhibition.
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The order backlog at September 30 remained healthy according to Heidelberg, at EUR1.184 billion compared to the previous year's EUR1.343 billion).
In the offset press division sales stood at EUR1.424 billion in the first six months (EUR1.423 billion in 2006).
Incoming orders in the period were EUR1.632 billion (2006 - EUR1.762 billion).
The operating result in the first half-year was EUR81 million compared to 2006's EUR96 million, and included one-off effects amounting to approximately EUR25 million.
In the post-press finishing division half-yearly sales were seven per cent up at EUR199 million (EUR186 million in 2006).
Incoming orders totaled EUR218 million compared to EUR215 million for the same period in 2006.
An operating loss of EUR4 million was recorded compared to break-even last year.
Sales in the Latin America and eastern Europe in the first half-year exceeded the equivalent figures for the previous year.
Figures for North America, EMEA and Asia-Pacific were close to the previous year's level, whilst the higher volume of orders on the Chinese market was a result of the customs situation there being clarified, added Heidelberg.
In the 2007-2008 financial year Heidelberg said it is looking to increase its pure operating result by 10 per cent to 15 per cent, compared to the adjusted value for the previous year of EUR302 million.
That indicates a targeted operating result for 2007-2008 of EUR330 million to EUR345 million.
The positive effects of the German tax reform and internal optimisation measures on tax rates will play their part in further increasing the company's net profit it believes.
Overall, the company expects an increase in the net profit - excluding one-off effects - of around four per cent of sales in the previous year to about five per cent in financial year 2007-2008.
The Heidelberg Group recorded an operating result of EUR96 million in the first six months, compared to 1996's EUR118 million).
According to the company, the decline in profits must be seen in the context of a result last year that included one-off effects amounting to approximately EUR25 million, amongst other items, from the sale of the Linotype share holding.
The net profit after six months was EUR44 million (previous year: EUR68 million).
Heidelberg's chief executive officer, Bernhard Schreier, commented: "The positive development of the global economy is continuing, albeit slightly less dynamically.
The economy is currently being boosted by Europe and the emerging markets.
In particular, in China the propensity to invest in the print media industry is picking up again, now that the customs situation there has been clarified." Dirk Kaliebe, the company's chief financial officer, added: "With an operating return on sales of around six per cent, we are on our expected course to meet our targets for the year as a whole.
The detrimental effect of exchange rate movements and high energy and raw material costs have made life difficult." During the next three-year period up to 2009-2010, Heidelberg said it expects total sales to increase by 10 to 15 per cent.
In the current financial year 2007-2008, Heidelberg predicts moderate growth in sales in the run-up to Drupa 2008.
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