Heidelberger Druckmaschinen AG

Growth Continues at Heidelberg: Sales in the First Quarter of Fiscal 01/02 Up 8 Percent
Profits After Tax Climb from 21 to 29 Million Euros

    Heidelberg, Germany (ots) Heidelberger Druckmaschinen AG (Heidelberg) remained firmly on course for continued growth in the first quarter (April 1 to June 30) of the 2001/2002 fiscal year. During this period, sales of the Heidelberg Group increased by about 8% to 1.1 billion euros compared to 997 million euros in the first quarter of the previous year.

    As expected, orders received, at 1.3 billion euros, remained
beneath the high level of the previous year (1.8 billion euros),
which had been heavily influenced by drupa, the world's largest trade
show for the graphic arts industry, which takes place every four
years. Compared to the first quarter of the year before drupa,
1999/2000 (1 billion euros), however, it was up 24%. At drupa in May
2000, the company took in orders worth 1.5 billion euros.
    "Based on the results of the first quarter, we are confident of
our ability to improve both sales and profits further during the
course of the fiscal year as a whole," explained Heidelberg's CEO
Bernhard Schreier.
    The operating profit rose in the period under review by nearly 22%
to 45 million euros. Heidelberg also benefited from the German tax
reform for the first time.
    The combined effect was that aftertax profits developed very
gratifyingly, showing a significant rise from 21 to 29 million euros.
"The development of profits at the beginning of the new fiscal year
once again underscores Heidelberg's earning ability, even in the
currently difficult economic environment," says CFO Dr. Herbert
Meyer. Profit per share increased by 36% from 0.25 to 0.34 euro.
    Development in the Divisions in Line with Expectations
    Sales in Heidelberg's Digital Division increased by just under 5%
to 161 million euros. The operating profit dropped from minus 24
million euros to minus 39 million euros as expected, due to
expenditures associated with the market launch of the company's
digital color presses and the expansion of its company's own sales
and distribution network. In September of this year, Heidelberg will
begin marketing the new NexPress digital color press. Here too, the
company is poised to occupy a leading position in the world market.
    The Sheetfed Division was able to continue its success.
Particularly in the Central Europe and Asia/Pacific regions, growth
was above-average. Sales increased by 17% to about 730 million euros;
the operating profits soared by 46% to 117 million euros.
    In the Web Systems Division, sales of about 100 million euros were
made. Due to sales, forerunning costs and non-recurring items the
operating profit dropped by 12 million euros to minus 36 million
euros compared with the previous year. Heidelberg scored one
significant success in the newspaper market in the United States,
where the company sold the first Mainstream 80 newspaper web press to
"The Roanoke Times" in Virginia in August.
    The Finishing Division racked up sales of 83 million euros, of
which the NAFTA and Asia/Pacific regions accounted for about 50%. The
operating profit was around 3 million euros.
    Positive Development in the Regions
    In the Central European region, Heidelberg extended its strong
position by pushing up sales by over 14% to 433 million euros. In
NAFTA (the United States, Mexico and Canada), sales declined owing to
the sluggish U.S. economy, but only by 5% to 291 million euros. The
Central and South America region developed exceptionally
successfully, with sales climbing from 28 to 51 million euros. The
Asia/Pacific region was influenced by favorable conditions in China
in particular, registering sales of 210 million euros. The other
regions also profited from increasing market demand.
    As of June 30, 2001 the Heidelberg Group employed approximately
26,000 persons.
    Photographs are available on the Internet at

                            June 30, 2001    June 30, 2000  Change in %
                            EUR m.                EUR m.
    Net sales         1,074                997                  7.7
    Digital            161                  154                  4.5
    Sheetfed          730                  624                 17.0
    Web Systems      100                  118                -15.3
    Finishing          83                  101                -17.8

    Incoming orders 1,311          1,778                -26.3
    Digital              172              208                  -17.3
    Sheetfed            812              1,192                -31.9
    Web Systems        240              230                      4.3
    Finishing            87              148                  -41.2

    Order backlog 1,907              2,168                -12.0
    Digital              119              151                  -21.2
    Sheetfed         1,259              1,529                -17.7
    Web Systems        433              347                    24.8
    Finishing            96              141                  -31.9

    Operating profit 45                37                    21.6
    Digital              -39              -24                  -62.5
    Sheetfed            117                80                    46.2
    Web Systems        -36              -24                  -49.9
    Finishing              3                 5                  -40.0

    Net profit          29                21                    38.1
    Return on
    sales in %         2.7              2.1

    Sales by regions  
                      June 30, 2001  June 30, 2000    Change    Share 00/01
                      EUR m.              EUR m.                 in %        in %
    Central Europe 433            379                      14.2        40.3
    Eastern Europe  59              56                        5.4         5.5
    NAFTA                291            306                      -4.9        27.1
    America              51              28                      82.1         4.7
    Asia/Pacific    210            201                        4.5        19.6
    Middle East/
    Africa                30              27                      11.1         2.8
    Group            1,074            997                        7.7      100.0
    Important Note:
    This press release contains forward-looking statements which are
based on assumptions and estimations by the managment board of
Heidelberger Druckmaschinen Aktiengesellschaft. Even though the
management board is of the opinion that those assumptions and
estimations are realistic the future development and the projected
results may deviate substantially from the forward-looking
statements. Those deviations can be due to several factors including
but not limited to changes in the macro-economic situation, in the
exchange rates, in the interest rates and in the graphic arts
industry. Heidelberger Druckmaschinen Aktiengesellschaft gives no
warranty and does not assume the liability for any damages in case
the future development and the projected results do not correspond
with the forward-looking statements.

ots Original Text Service: Heidelberger Druckmaschinen AG Internet: http://www.presseportal.de

For more information, please contact: Thomas Fichtl Heidelberger Druckmaschinen AG Corporate Communication Phone: +49 6221/92-4747 Fax: +49 6221/92-5046 E-mail: thomas.fichtl@de.heidelberg.com

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