-- Incoming orders EUR 1.866 billion - 6.5 percent down on last year's
strong showing as a result of IPEX
-- Sales at the same high level as last year at EUR 1.639 billion
-- Operating result EUR 96 million (previous year, including one-time
effects: EUR 118 million)
-- Outlook for full financial year 2007/2008 unchanged
HEIDELBERG, GERMANY, November 6 /CNW/ - Heidelberger Druckmaschinen AG
(Heidelberg) (FWB: HDD) is publishing its financial statements for the first
six months of financial year 2007/2008 (April 1 to September 30, 2007). At EUR
1.639 billion, Heidelberg Group sales in the first six months of the year
remained at last year's high level (previous year: EUR 1.628 billion) despite
the strength of the euro. After adjustments for exchange rate movements, they
would be 3 percent up on the previous year. Incoming orders in the period
under review amounted to EUR 1.866 billion (previous year: EUR 1.996 billion).
The decline compared to the same period the previous year is attributable to
the high volume of orders received at the IPEX trade show in April 2006. The
order backlog at September 30 remained healthy at EUR 1.184 billion (previous
year: EUR 1.343 billion).
"The positive development of the global economy is continuing, albeit
slightly less dynamically," stated Bernhard Schreier, CEO of Heidelberger
Druckmaschinen. "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," he continued.
The Heidelberg Group recorded an operating result of EUR 96 million in
the first six months (previous year: EUR 118 million). The downward movement
compared to the previous year must be seen in the context of a result last
year that included one-time effects amounting to approximately EUR 25 million,
among other things from the sale of the Linotype shareholding. The net profit
after six months was EUR 44 million (previous year: EUR 68 million).
"With an operating return on sales of around 6 percent, we are on our
expected course to meet our targets for the year as a whole," stated
Heidelberg CFO Dirk Kaliebe. "The detrimental effect of exchange rate
movements and high energy and raw material costs have made life difficult," he
went on to explain.
At September 30, 2007, the Heidelberg Group had a workforce of 19,436
worldwide (previous year: 18,808). In the first six months (April 1 to
September 30, 2007), Heidelberg took on 265 new employees, mainly in
Results in the Press and Postpress divisions
In the Press Division (offset printing), sales stood at a level of EUR
1.424 billion in the first six months (previous year: EUR 1.423 billion).
Incoming orders in the period under review stood at EUR 1.632 billion
(previous year: EUR 1.762 billion). The operating result in the first
half-year was EUR 81 million (previous year: EUR 96 million, including
one-time effects amounting to approximately EUR 25 million).
In the Postpress Division (finishing), half-yearly sales were 7 percent
up at EUR 199 million (previous year: EUR 186 million). Incoming orders
totaled EUR 218 million (previous year: EUR 215 million). In the period under
review, an operating loss of EUR 4 million was recorded (previous year:
Sales in the Latin America and Eastern Europe regions 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 high
level. The higher volume of orders on the Chinese market was, among other
things, a result of the customs situation there being clarified.
Outlook for financial year 2007/2008 unchanged
During the next three-year period, from 2007/2008 to 2009/2010, the
Company expects total sales to increase by 10 to 15 percent. In the current
financial year 2007/2008, Heidelberg predicts moderate growth in sales in the
run-up to drupa 2008. As regards exchange rate movements, the Company has
based its forecasts on exchange rates of 1.28 U.S. dollars to the euro and 148
Japanese yen to the euro and hedged the exposure adequately.
In financial year 2007/2008, Heidelberg is looking to increase its pure
operating result by 10 to 15 percent - compared to the adjusted value for the
previous year of EUR 302 million. This marks out a target operating result for
2007/2008 of EUR 330 million to EUR 345 million.
The positive effects of the German tax reform and internal optimization
measures with regard to the tax rate will also play their part in further
increasing the net profit. Overall, the Company expects an increase in the net
profit - excluding one-time effects - of around 4 percent of sales in the
previous year to about 5 percent in financial year 2007/2008.
The complete report for the second quarter of 2007/2008 is available
online at www.heidelberg.com.
For further information visit the Internet Press Lounge at
The scheduled publication date for the financial statements for the third
quarter of 2007/2008 is February 5, 2008.
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 contained in this press release.
For further information:
For further information: Heidelberger Druckmaschinen AG Corporate
Communications Thomas Fichtl, +49 (0)6221 92 4747 Fax: +49 (0)6221 92 5069