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Heidelberg Forecasts Break-even Year

February 15, 2011

Heidelberger Druckmaschinen AG has announced that it anticipates seeing a "positive operating result" in the current financial year. Heidelberg's financial year ends the first quarter of the calendar year.

"Thanks to stable growth in the global economy, our incoming orders increased in all regions and divisions during the third quarter. Nonetheless, the economic recovery is still marked by regional differences. While incoming orders are rising steadily in Asia, Europe, and Latin America, the recovery in the key U.S. market has been slow to set in," said Heidelberg Group CEO Bernhard Schreier. "The positive developments of the past nine months show that we are on track to achieve our target - a break-even operating result for the current financial year."

Heidelberg has gone through a process of reorganization in order to adapt to the changing press market. During the first nine months of the current financial year, the headcount dropped by a total of 515; the company now has 15,981 employees worldwide, as of December 31.

According to a statement issued by the company, sales continued to improve in the third quarter, reaching the highest level for the current financial year at EUR 687 million, which is above 19 percent up on the previous year and 9 percent up from the second quarter. After nine months, total sales amounted to EUR 1,883 million - an improvement of 18 percent over 2009.

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