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Heidelberger Druckmaschinen AG

Heidelberg records sales of around Euro 3.6 billion in the first nine months and matches last year's high level

Heidelberg, Germany (ots)

Orders and operating result fail to reach last year's record
figures
Third quarter shaped by weak economic growth
Heidelberg still focussed on growth targets
Heidelberger Druckmaschinen AG (Heidelberg) has matched the sales
levels of the previous year in the first nine months (April 1 to
December 31) of fiscal year 2001/2002. Sales by the Heidelberg Group
rose by 0.8 percent to around Euro 3.6 billion.
Orders over the same period were Euro 3.5 billion, some 19 percent
down on the high levels recorded in the Drupa 2000 year. "This
clearly reflects the reticence to invest that has been prevalent in
the USA since the beginning of the last calendar year and the effects
of the worsening global economic climate since September 2001,"
stated Bernhard Schreier, CEO of Heidelberg. "But this changes
nothing in terms of our growth targets. We remain firmly committed to
these", he adds. He went on to say that Heidelberg has devised a
three-pronged strategy to tackle the challenges of the next few years
in the graphic arts industry. These involve extending the company's
lead on the offset market and assuming a leading role in postpress.
The third objective of the strategy, according to Mr. Schreier,
involves digital printing, an area in which Heidelberg aims to become
a major international player over the next few years.
The operating profit in the first nine months was Euro 161 million
and was therefore some 47 percent down on the same period last year.
Profits after tax over the same period were Euro 84 million, around
49 percent below the level for 2000/2001. Heidelberg also expects
that the measures introduced during the second half of the year will
enable it to reach its targets for the year as a whole. "The steps we
have implemented will begin to impact positively on results during
the current quarter (January 1 to March 31, 2002)", commented CFO Dr.
Herbert Meyer. These include the major realignment of production
capacities to reflect the downturn in business, a clear reduction in
inventories, the achievement of the company's cost-cutting target of
Euro 100 million and the anticipated turnaround in the Web Systems
Division. At December 31, 2001, the Heidelberg Group had a workforce
of 25,700.
Developments in the individual divisions - improved results for
Digital and Web Sales in the Digital Division fell by some 15 percent
to Euro 482 million. The operating loss was Euro 88 million.
Nevertheless, with sales of Euro 149 million, the loss in the third
quarter was a significant improvement on previous quarters. The
launch of the new NexPress digital color press was very successful.
Heidelberg had already received more than 130 orders by the end of
the third quarter.
Sales in the Web Systems Division were Euro 454 million, only 7
percent below last year's figure. With sales in the third quarter of
Euro 236 million, the Division made up considerable ground. The
operating loss grew to Euro 123 million, but here too a turnaround is
in sight and the loss in the third quarter was well below that of
preceding quarters.
Sales in the Sheetfed Division climbed 7 percent to around Euro
2.4 billion. The operating profit was Euro 368 million, 2 percent up
on last year.
Compared with the previous year, sales in the Finishing Division
were down around 2 percent at Euro 277 million. Operating profits of
Euro 21 million fell to Euro 4 million because of the situation in
the USA.
Progress in the regions quite positive
   The trend in the regions was similar to the half-yearly figures.
The NAFTA region continues to be shaped by the economic slowdown in
the USA and a consequent reticence on the part of customers to make
new investments. As a result, sales by the Heidelberg Group in this
region decreased some 15 percent to Euro 958 million. Business in the
other regions was quite positive, although these also experienced a
slowdown in growth. The Asia/Pacific Region saw a very pleasing
improvement in sales of around 11 percent. Sales for the Central
Europe Region also increased, to around Euro 1.4 billion. Heidelberg
also recorded improved sales in Eastern Europe, Central and South
America and the Middle East and was thereby able to extend its
leadership on these markets.
Important note: 
   This press release contains statements about the future that are
based on assumptions and estimates made by the management of
Heidelberger Druckmaschinen Aktiengesellschaft.
Even if the management is of the opinion that these assumptions
and estimates are accurate, future actual developments and future
actual results may differ significantly from these assumptions and
estimates due to a variety of factors. These factors can include
changes to the overall economic climate, changes to exchange rates
and interest rates and changes in the graphic arts industry.
Heidelberger Druckmaschinen Aktiengesellschaft provides no guarantee
that future developments and the results actually achieved in the
future will agree with the assumptions and estimates set out in this
press release and assumes no liability for such.
Further information are available on the Internet at
http://www.journalist.heidelberg.com
ots Original Text Service: Heidelberger Druckmaschinen AG
Internet: http://www.presseportal.de
Further information:
Heidelberger Druckmaschinen AG
Corporate Communications
Thomas Fichtl
Tel.: +49 6221 92 47 47 
E-mail:  thomas.fichtl@de.heidelberg.com
Heidelberger Druckmaschinen
Aktiengesellschaft
Corporate Communications
Kurfuersten-Anlage 52 - 60
69115 Heidelberg
Germany
Phone   +49-62 21-92-47 47
Fax     +49-62 21-92-50 69
www.heidelberg.com

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