Heidelberger Druckmaschinen AG: Heidelberg publishes preliminary figures for first quarter of financial year 2012/2013

Heidelberger Druckmaschinen AG  / Key word(s): Quarter Results/Incoming Orders

13.07.2012 20:01

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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* Incoming orders increase to around EUR 890 million
* Result of operating activities excluding special items of approximately
EUR -58 million
* Sales in line with expectations at around EUR 520 million 

Thanks to a good showing at drupa trade fair, Heidelberger Druckmaschinen
AG (Heidelberg) has made a positive start to financial year 2012/2013
(April 1, 2012 to March 31, 2013). Based on preliminary calculations,
incoming orders for the first quarter increased to some EUR 890 million
(previous year EUR 665 million) - their highest level for four years.
As expected, preliminary sales for the same period were slightly down at
around EUR 520 million (previous year EUR 544 million). The lower sales
figure compared to both the previous year and the previous quarter is a
result of customers' reluctance to invest in the run-up to drupa, the
industry trade show that took place in May 2012, and the associated low
order backlog at the start of the quarter. In the final quarter of the
previous financial year, which ended on March 31, 2012, Heidelberg recorded
its highest quarterly sales for three years of EUR 785 million.

As expected, lower profit contributions resulting from the lower sales in
the first quarter and the costs of preparing for drupa and launching new
products had a negative impact on the preliminary result of operating
activities excluding special items. In the first quarter, it was around EUR
-58 million (previous year EUR -25 million).

Based on these preliminary figures, which are in line with its
expectations, the Heidelberg Management Board confirms the forecast
announced at the Annual Press Conference on June 14, 2012. Heidelberg is
still expecting to achieve a clearly positive result of operating
activities excluding special items for financial year 2012/2013. In the
subsequent year 2013/2014 the company is still looking to achieve a result
of operating activities excluding special items of around EUR 150 million
and a net profit.

Contact:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Matthias Hartung
Phone: +49 (0)6221 92-5077
Mobile: +49 (0)172-736 01 84
Fax: +49 (0)6221 92 99-5077
E-Mail: matthias.hartung@heidelberg.com

Important note:
This press release contains forward-looking statements based on assumptions
and estimations by the Management Board of Heidelberger Druckmaschinen
Aktiengesellschaft. Even though the Management Board is of the opinion that
those assumptions and estimations are realistic, the actual future
development and results may deviate substantially from these
forward-looking statements due to various factors, such as changes in the
macro-economic situation, in the exchange rates, in the interest rates and
in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft
gives no warranty and does not assume liability for any damages in case the
future development and the projected results do not correspond with the
forward-looking statements contained in this press release.


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Information and Explaination of the Issuer to this News:

Heidelberg publishes preliminary figures for first quarter of financial
year 2012/2013

* Strongest start to financial year for four years, with incoming orders
climbing to around EUR 890 million
* Order backlog grows significantly to around EUR 850 million 
* Sales in line with expectations at around EUR 520 million
* Result of operating activities excluding special items of approximately 
EUR -58 million
* Company still looking to achieve clearly positive operating result
excluding special items for current financial year
* Medium-term targets confirmed: Result of operating activities excluding
special items of around EUR 150 million in financial year 2013/2014

Thanks to a good showing at drupa trade fair, Heidelberger Druckmaschinen
AG (Heidelberg) has made a positive start to financial year 2012/2013
(April 1, 2012 to March 31, 2013). Based on preliminary calculations,
incoming orders for the first quarter increased to some EUR 890 million
(previous year EUR 665 million) - their highest level for four years.
As expected, preliminary sales for the same period were slightly down at
around EUR 520 million (previous year EUR 544 million). The lower sales
figure compared to both the previous year and the previous quarter is a
result of customers' reluctance to invest in the run-up to drupa, the
industry trade show that took place in May 2012 in Düsseldorf, and the
associated low order backlog at the start of the quarter. In the final
quarter of the previous financial year, which ended on March 31, 2012,
Heidelberg recorded its highest quarterly sales for three years at EUR 785
million. Thanks to high incoming orders in the first quarter, the
preliminary order backlog is now well up on the previous quarter at around
EUR 850 million.

As expected, lower profit contributions resulting from the lower sales in
the first quarter and the costs of preparing for drupa and launching new
products had a negative impact on the preliminary result of operating
activities excluding special items. In the first quarter, it was around EUR
-58 million (previous year EUR -25 million). The preliminary free cash flow
is between EUR -105 million and EUR -115 million, largely due to an
increase in inventories resulting from the incoming orders received and the
payments made for the FOCUS 2012 efficiency program.

Outlook for current and next financial year unchanged
As a result of the trade show, Heidelberg is expecting sales to show a
distinct shift to the second half of the financial year with a
corresponding improvement in profit contributions. The company implemented
the main measures of the FOCUS 2012 efficiency program before drupa, which
means up to a third of the planned annual savings of EUR 180 million will
take effect during the current financial year. Heidelberg is still
expecting to achieve a clearly positive result of operating activities
excluding special items for financial year 2012/2013. In the subsequent
year, the cost savings resulting from FOCUS 2012 will take full effect and
lead to annual savings of some EUR 180 million. The company is therefore
still looking to achieve a result of operating activities excluding special
items of around EUR 150 million and a net profit in financial year
2013/2014.

Further details and an explanation of the figures for the first quarter of
the financial year will be published on August 8, 2012.

For further information about the company, please visit the press portal of
Heidelberger Druckmaschinen AG at www.heidelberg.com.

For further information, please contact: 
Heidelberger Druckmaschinen AG
Corporate Public Relations
Matthias Hartung
Phone: +49 (0)6221 92-5077
Fax: +49 (0)6221 92-5069
E-Mail: matthias.hartung@heidelberg.com 

Important note:
This press release contains forward-looking statements based on assumptions
and estimations by the Management Board of Heidelberger Druckmaschinen
Aktiengesellschaft. Even though the Management Board is of the opinion that
those assumptions and estimations are realistic, the actual future
development and results may deviate substantially from these
forward-looking statements due to various factors, such as changes in the
macro-economic situation, in the exchange rates, in the interest rates and
in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft
gives no warranty and does not assume liability for any damages in case the
future development and the projected results do not correspond with the
forward-looking statements contained in this press release.

13.07.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Heidelberger Druckmaschinen AG
              Kurfürsten-Anlage 52-60
              69115 Heidelberg
              Germany
Phone:        +49 (0)6221 92-60 22
Fax:          +49 (0)6221 92-51 89
E-mail:       investorrelations@heidelberg.com
Internet:     www.heidelberg.com
ISIN:         DE0007314007
WKN:          731400
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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