Sales in line with previous year’s level after three quarters and following adjustment for exchange rate movements
Adjusted EBITDA margin rises to 8.0 percent
Incoming orders weaker in third quarter after strong first half-year
Value creation program supports free cash flow with around € 60 million by the end of Q3 2023/24
HEIDELBERG, Germany, Feb. 7, 2024 /PRNewswire/ — The development of sales and EBITDA at Heidelberger Druckmaschinen AG (HEIDELBERG) is within the expected range for financial year 2023/2024. After three quarters (April 1 – December 31, 2023), the technology company achieved sales of € 1.686 billion, thanks primarily to growth in the packaging segment. Following adjustment for exchange rate movements, this figure matches the previous year’s level (€1.729 billion). The adjusted operating result (EBITDA) was an improvement on the same period of the previous year, with the figure after three quarters amounting to € 135 million (adjusted result for previous year: € 125 million). The corresponding adjusted EBITDA margin increased to 8.0 percent (previous year: 7.2 percent), whereby there were no special items to be adjusted in the current financial year. The net result after taxes after nine months remained clearly positive at € 34 million. Compared with the previous year (€ 54 million), higher tax expenditure, increased pension-related interest costs, and the lack of positive special items had a bearing on the result.
“In the first three quarters of the financial year, HEIDELBERG has held its own in a weak macroeconomic climate. The development of sales and EBITDA is within the expected range,” said HEIDELBERG CEO Dr. Ludwin Monz.
Following the good first half-year, incoming orders in the third quarter of the financial year reflected the economic climate. Overall, …
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