Heidelberg, Germany (ots)
- The initial repercussions of the
events in the USA in September are reflected in the provisional
figures for the first half year up to September 30. The company
forecasts weaker figures for the second half year.
Following a good first quarter (April 1 to June 30) for fiscal
2001/02 (sales up 8 % and operating result up just under 22 %), the
events in the USA had a clear impact on Heidelberger Druckmaschinen
AG's second quarter results. The provisional figures indicate that
Heidelberg Group sales for the first half of the year are euros 2.3
billion, 4.8% above the level for the same period last year (just
under euros 2.2 billion). The operating profit is expected to be in
the region of euros 110 million, i.e. euros 43 million or
28 % below the half-year result for fiscal 2000/2001. The profit
after tax is expected to be euros 62 million, euros 20 million less
than in the first half of the previous fiscal year.
Sales in September were euros 100 million down on expectations,
this particularly affecting the USA and the Web Systems division
(with high US component). This is some 30 % below last year's sales
figure and around euros 65 million below last year's operating result
(previous year: loss of euros 24 million). Sales in the Sheetfed
division of euros 1.57 billion (previous year: euros 1.35 billion)
and an operating result of around euros 260 million (previous year:
euros 212 million) are in line with expectations, as are the sales
figures and anticipated results of the other divisions.
A comparison of the regions shows just how severely the current
situation is being impacted by the economic developments in the USA.
Sales in all regions developed well, with the exception of the NAFTA
region, where sales levels fell by euros 137 million or 18.9 %
compared with the previous year.
In its sales and results forecasts for the year as a whole, the
company had previously assumed that the economic recovery in the USA
would begin in the second half of the current fiscal year.
Developments now suggest there will be an economic downturn in the
USA and that this may have consequences for business in Europe and
Asia. As a result, sales in the second half of the year are expected
to be further down on the previous year that hitherto anticipated.
Despite the fact that cost-cutting measures were introduced at an
early date and will save around euros 100 million in the second half
of this year, it appears as things presently stand that the results
for the current year will fall below those of the previous year.
Against this backdrop, the company expects profits after tax for the
year as a whole to lie between euros 200 and 220 million.
The half-year results of Heidelberger Druckmaschinen AG will be
published on November 9, 2001.
ots Original Text Service: Heidelberger Druckmaschinen AG
For further information:
Heidelberger Druckmaschinen AG
Tel.: 06221-92 5063
Fax: 06221 92 5069
Kurfuersten-Anlage 52 - 60
Phone +49-62 21-92-50 60
Fax +49-62 21-92-50 69
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