Heidelberger Druckmaschinen AG (HEIDELBERG) announced a strong start to the new financial year 2024/2025 with growth in incoming orders. The company exceeded its own expectations for the first three months (April 1 to June 30, 2024) with incoming orders of €701 million, compared to €591 million in the previous year. This strong start, along with a high order backlog of €923 million, sets a solid foundation for the entire financial year. The regions of Europe and the Americas saw particularly strong growth, while Asia experienced slight growth compared to the previous year.
CEO Jürgen Otto expressed confidence in the company’s future, stating, “The strong recovery in our order intake allows us to look to the full financial year with great confidence.” He also noted that the company is working on reducing costs and personnel expenses, which are currently too high.
As expected, sales for the first quarter were lower at €403 million compared to €544 million in the previous year, due to reluctance to invest ahead of the drupa industry trade fair. The adjusted operating result (EBITDA) also decreased from €51 million to €-9 million compared to the previous year. The company’s net result after taxes fell to €-42 million, while free cash flow was negative at €-103 million due to the quarterly loss, an increase in inventories, and seasonal effects.
CFO Tania von der Goltz commented on the results, stating, “HEIDELBERG felt the after-effects of the slump in orders from the third quarter of 2023/2024 in the first quarter.” However, she confirmed the company’s forecast for the 2024/2025 financial year, assuming stable earnings development and no slow down in the global economy.
At the drupa trade fair, HEIDELBERG presented itself as a total solution provider for the printing industry, with a focus on both offset and digital printing. The company also announced a new cooperation with Canon to enter the growing market of digital industrial commercial printing. In the medium term, HEIDELBERG aims to significantly increase its sales in this area.
Images and further information about the company are available on the Investor Relations and Press Portal of Heidelberger Druckmaschinen AG at www.heidelberg.com.
For further information:
Corporate Communications
Oliver Claas
Phone: +49 6222 82-67179
E-Mail: Oliver.Claas@heidelberg.com
Thomas Fichtl
Phone: +49 6222 82- 67123
E-Mail: Thomas.Fichtl@heidelberg.com
Investor Relations
Maximilian Beyer
Tel: +49 (0)6222 82-67120
E-Mail: Maximilian.Beyer@heidelberg.com
Important note:
This press release contains forward-looking statements based on assumptions and estimates made by the management of Heidelberger Druckmaschinen Aktiengesellschaft. While the company management believes these assumptions and estimates to be accurate, actual future developments and results may deviate considerably from these assumptions and estimates due to various factors, including changes in the overall economic situation, exchange rates, interest rates, and changes within the graphic arts industry. Heidelberger Druckmaschinen Aktiengesellschaft does not guarantee or assume any liability that future developments and actual results achieved will correspond to the assumptions and estimates made in this press release.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.