Langley Reports manroland Progress
Langley Holdings, in its annual financial results announcement gave insight on the progress of manroland’s restructuring. The company took control of manroland’s sheetfed division in February of last year.
“In 2013 the manroland Sheetfed Group, which includes some 40 subsidiaries worldwide, is now structured to break even on revenue of €350 million,” writes Anthony Langley, Chairman of Langley Holdings. “At this level the production facilities in Germany would be operating at around one third of capacity and at 80 percent utilization with current manning levels. Considering demand for printing presses remains depressed and there is currently significant overcapacity in the market, this is a satisfactory situation. As the business achieved slightly over this volume in a year which saw much upheaval, I would expect to see something of an improvement in 2013.”
While manroland’s financials are not yet incorporated into its parent company’s, Langley has published unaudited figures as part of its annual report. manroland Sheetfed generated revenues of €358 million in 2012, but due to some non-recurring costs, posted a loss of €2.55 million. manroland Sheetfed has 1,740 employees, which brings Langley Holding’s total to 4,004.
“2012 was a remarkably successful year for our Group. Our businesses, with only minor exceptions, have performed ahead of expectation and much credit is due to our divisional management for this achievement,” continued Langley. “At the group level much of our attention in 2012 has been focused on re-aligning the manroland business in readiness to become a part of the Group. Looking to 2013, the outlook is positive for our businesses although I do not expect to reach the 2012 heights, or for manroland Sheetfed to make a substantial contribution; that will come later.”