Heidelberg on course after first half of financial year 2015/2016 with sales and result up on previous year - Seite 3
expected in the second half of the financial year and the positive
effects of the efficiency measures should, as planned, increasingly
lead to improvements in the result of the Heidelberg Equipment
segment in the second half of the financial year so as to achieve the
target EBITDA margin of 4 to 6 percent.
Following the completed refinancing of the credit facility, the
financial result for the half-year improved to EUR-30 million
(previous year: EUR-33 million). The net result before taxes also
improved, from EUR-32 million in the previous year to EUR-8 million.
The net result after taxes was much better at EUR-14 million
following a figure of EUR-42 million in the corresponding period of
the previous year.
At EUR-30 million, the free cash flow in the period under review
remained at the same level as in the previous year (EUR-30 million).
Excluding the price paid to acquire PSG, and non-recurring payments
associated with the early redemption of a bond and the reorientation,
it would have been positive.
The net financial debt at September 30 increased slightly to
EUR284 million (March 31, 2015: EUR256 million) and thus remains at a
low level. With a factor of 1.3, the leverage (net financial debt
divided by EBITDA excluding special items for the last four quarters)
was maintained significantly below the target value of 2.
As at September 30, 2015, the Heidelberg Group had a global
workforce of 11,753 plus 473 trainees (previous year: 12,393 plus 550
trainees). This includes around 380 new employees from the
acquisition of PSG.
Outlook for year as a whole: Sights firmly set on achieving
targets for year
Based on solid order books, Heidelberg is aiming for sales growth
of 2 to 4 percent after adjustment for exchange rate effects in the
current financial year 2015/2016. As in the previous year, the
company is assuming that the share of sales will be higher in the
second half of the financial year than in the first.
Assuming that the initiatives to increase margins in the Equipment
area in particular and to optimize the portfolio take effect in the
current financial year, the company continues to anticipate an
operating margin on EBITDA of at least 8 percent of sales, adjusted
for exchange rate effects, in financial year 2015/2016. The
Heidelberg Equipment segment is expected to contribute within a range
of 4?to?6 percent to this result and the Heidelberg Services segment
9?to 11 percent. In the Heidelberg Financial Services segment, the
company will continue to primarily externalize customer financing.
The segment should continue to provide a positive EBITDA contribution
in the future.
Other dates:
The figures for the third quarter of financial year 2015/2016 are
due to be published on February 10, 2016.
For additional details about the company and image material,
please visit the Press Lounge of Heidelberger Druckmaschinen AG at
www.heidelberg.com.
The report on the second quarter of financial year 2015/2016 can
be accessed at www.heidelberg.com.
Important note:
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.
Originaltext: Heidelberger Druckmaschinen AG
digital press kits: http://www.presseportal.de/nr/6678
press kits via RSS: http://www.presseportal.de/rss/pm_6678.rss2
ISIN: DE0007314007
Further information:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: thomas.fichtl@heidelberg.com
Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-mail: robin.karpp@heidelberg.com
remained at the same level as in the previous year (EUR-30 million).
Excluding the price paid to acquire PSG, and non-recurring payments
associated with the early redemption of a bond and the reorientation,
it would have been positive.
The net financial debt at September 30 increased slightly to
EUR284 million (March 31, 2015: EUR256 million) and thus remains at a
low level. With a factor of 1.3, the leverage (net financial debt
divided by EBITDA excluding special items for the last four quarters)
was maintained significantly below the target value of 2.
As at September 30, 2015, the Heidelberg Group had a global
workforce of 11,753 plus 473 trainees (previous year: 12,393 plus 550
trainees). This includes around 380 new employees from the
acquisition of PSG.
Outlook for year as a whole: Sights firmly set on achieving
targets for year
Based on solid order books, Heidelberg is aiming for sales growth
of 2 to 4 percent after adjustment for exchange rate effects in the
current financial year 2015/2016. As in the previous year, the
company is assuming that the share of sales will be higher in the
second half of the financial year than in the first.
Assuming that the initiatives to increase margins in the Equipment
area in particular and to optimize the portfolio take effect in the
current financial year, the company continues to anticipate an
operating margin on EBITDA of at least 8 percent of sales, adjusted
for exchange rate effects, in financial year 2015/2016. The
Heidelberg Equipment segment is expected to contribute within a range
of 4?to?6 percent to this result and the Heidelberg Services segment
9?to 11 percent. In the Heidelberg Financial Services segment, the
company will continue to primarily externalize customer financing.
The segment should continue to provide a positive EBITDA contribution
in the future.
Other dates:
The figures for the third quarter of financial year 2015/2016 are
due to be published on February 10, 2016.
For additional details about the company and image material,
please visit the Press Lounge of Heidelberger Druckmaschinen AG at
www.heidelberg.com.
The report on the second quarter of financial year 2015/2016 can
be accessed at www.heidelberg.com.
Important note:
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.
Originaltext: Heidelberger Druckmaschinen AG
digital press kits: http://www.presseportal.de/nr/6678
press kits via RSS: http://www.presseportal.de/rss/pm_6678.rss2
ISIN: DE0007314007
Further information:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: thomas.fichtl@heidelberg.com
Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-mail: robin.karpp@heidelberg.com
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