Heidelberg on track to meet revenue goals due to strong demand from North America
March 24, 2023 By PrintAction Staff
Thanks to strong demand from North America and Europe, along with sustained growth in the packaging segment, Heidelberger Druckmaschinen AG is well on track after ten months of the current 2022/23 financial year.
In the third quarter, from October to December 2022, the Group bucked the general trend in the mechanical engineering industry by recording stable incoming orders of €630 million. This led to a high order backlog of almost €1 billion. At €609 million, sales in the third quarter were around five per cent up on the equivalent quarter of the previous year. Adjusted for non-recurring effects, EBITDA was €18 million higher than in the previous year, primarily due to the positive impact of rising sales.
Posting the full collectively agreed inflation relief bonus had a detrimental effect during this accounting period. The production-related increase in inventories led to a free cash flow of €–4 million in the third quarter, which represented a stable development compared with the corresponding quarter of the previous year.
Thanks to the good performance in terms of sales and incoming orders and the significant improvement in the operating result, the company is confirming its forecast for financial year 2022/23 as a whole.
“We had a positive third quarter and were able to further increase our sales and operating result. Looking ahead, the coming months will continue to be affected by the expected increases in material, energy, and personnel costs,” said Dr. Ludwin Monz, CEO of Heidelberger Druckmaschinen AG. “We will continue to counter this through price rises and maintain our cost discipline. We are therefore very confident of achieving our targets for the year.”
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