Heidelberg has reported its third quarter results which saw the company's revenues fall four percent over the same period last year.
"The economic uncertainty and the resultant reluctance to invest have impacted on the business operations of Heidelberg as expected," said Heidelberg CEO Bernhard Schreier. "Nevertheless, consistent cost management has ensured that the operating result in the third quarter is positive and on the whole in line with the scaled-down expectations."
The company's North American sales were "up significantly" while incoming orders in the Europe, Middle East and Africa (EMEA), South America, and Asia/Pacific regions lay below last year's level.
The incoming orders of the Heidelberg Services division improved in the third quarter to EUR 277 million, up on the previous quarters. Compared with the equivalent nine months of the previous year, incoming orders were five percent below the previous year's figure at EUR 792 million. In the same period, the division's sales dropped by five percent to EUR 769 million.
The result of operating activities, excluding special itmes after nine moths has improved to EUR -19 million, compared to a EUR -26 million for the same three quarters last year.
"Heidelberg is on a stable financial footing thanks to successful refinancing and systematic asset management," said Heidelberg CFO Dirk Kaliebe. "The success of our financial measures is reflected in the consistently stable equity ratio and significantly reduced net financial debt."