Heidelberg released some preliminary figures for its 2012/2013 financial year, which ended on March 31. The figures show that sales for the company increased five percent over 2011/2012 numbers, however, costs for its Focus 2012 plans still weigh heavily on its results.
Heidelberg expects to post a EUR 2.596 billion sales figure, which leads to the company’s EBIT result to be EUR 28 million, compared to EUR 3 million in 2011. Special items, including Focus 2012 costs of EUR 65 million, cause a net loss of EUR 110 million for the German press maker. For the 2011/2012, Heidelberg posted a net loss of EUR 230 million.
"By meeting our forecast for the year, we have reached a key milestone on our way to profitability," said Heidelberg CEO Gerold Linzbach. "Focus 2012 lays the foundation for us to start making a profit again from financial year 2013/2014 onwards."
The company attributes its improving results to a strong fourth quarter: sales for the period January to March 2013 rose to EUR 830 million compared to EUR 785 million between January and March 2012.
Heidelberg also managed to reduce its workforce by nearly 1,200 people in the past year and now employs 14,215. The company will release its full financials on June 13, 2013.