Heidelberg Releases Slightly Positive Preliminary Q2 Numbers, Lowers Expectations for Current Financial Year
In view of the economic outlook, it is likely that demand in the second half of the financial year will be lower than expected, that sales and the operating result will not reach the level Heidelberg has been aiming for, and thus that the target of a break-even pre-tax result is unlikely to be achieved. In an endeavor to increase operating profitability in the current financial year, measures relating to non-personnel costs and the human resources area that can be implemented quickly have been introduced. The company expects that the operating result for financial year 2011/12 will be noticeably better than that of the previous year.
"We will stick to our medium-term profitability targets, even if the planned increase in sales to over EUR 3 billion takes longer to achieve due to weakness in demand," said Bernhard Schreier, Chief Executive Officer of Heidelberg. "We will take all the measures needed to achieve these objectives."
Heidelberg will publish further details and an explanation of the figures for the second quarter of financial year 2011/12 on November 8, 2011.
By The Numbers:
- Preliminary incoming orders of EUR 668 million in Q2
- Preliminary sales of around EUR 636 million in Q2
- Preliminary operating result for Q2 positive at approximately EUR 5 million
- Preliminary free cash flow in Q2 exceeds expectations at EUR -12 million
- Demand in the second half of the year likely to be weaker than expected due to heightened economic uncertainties
- The Heidelberg Management Board anticipates a noticeable improvement in the operating result for financial year 2011/12 as a whole compared with the previous year
- Unlikely that the target of a break-even pre-tax result will be achieved
For further information about the company and image material, please visit the Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.