According to its preliminary calculations, Heidelberger Druckmaschinen AG generated sales of EUR544 million in the first quarter of financial year 2011/12, which declined from the previous year’s first quarter results of EUR 563 million in sales. Applying an adjustment of EUR 19 million exchange rate effect, Heidelberg states its first-quarter sales numbers are in line with last year’s results, but still fall short of the company’s expectations.
Among other factors, Heidelberg reports its first-quarter numbers are due to sales being shifted into the next quarters as a result of the earthquake disaster in Japan and delays resulting from the extended liquidity shortage in the Chinese banking system. However, Heidelberg executives feel this slowed business development in China will be temporary based on “continued robust demand and the persistently strong economic growth in this market.”
Heidelberg also announced that preliminary incoming orders in the first quarter amounted to EUR 665 million, while incoming orders in the first quarter of the previous year’s amounted to EUR 786 million (including results from the IPEX trade show) and the previous quarter came in at EUR 637 million.
Heidelberg’s annual sales target in the medium term, which the company intends to achieve within the next two or three years, has been set at over EUR 3 billion. Assuming that the economic environment will continue to be generally stable, Heidelberg expects to gradually approach this target during the current and next financial year.