Sales show clear growth, increasing by 20 percent to 530 million euros
High customer demand results in incoming orders worth 607 million euros
The large order book of 969 million euros provides a solid basis for the rest of the year
Significant improvement in the operating result: EBITDA increases by 20 million euros to 35 million euros
Positive net result after taxes: 5 million euros
The forecast for the 2022/23 financial year is confirmed
HEIDELBERG, Germany, August 10, 2022 /PRNewswire/ — Heidelberger Druckmaschinen AG (HEIDELBERG) has successfully started the new financial year 2022/23. The first quarter saw significant improvements in both sales and operating profitability, thanks to the continued recovery of markets in almost all regions and the progressive success of the company’s transformation. For example, the Group’s sales figures between April and June grew by 20 percent year-on-year to 530 million euros. This significant increase can largely be attributed to the increase in the number of new machines delivered. The regions of europe i North America registered a particularly positive evolution. Instead, the results china they were sometimes weaker compared to the previous year, due to extensive lockdowns in economically relevant cities. Thanks to the increase in sales and the continuous reduction of structural costs, HEIDELBERG significantly improved its operating result (EBITDA) during the first quarter, recording an increase of 20 million euros to 35 million euros. In addition, it was possible to pass on sustained increases in material costs.
“The positive start to the new financial year gives us reason to be cautiously optimistic as we look ahead,” commented Dr. Ludwin Monz, CEO of the company. “Provided there is no slowdown in the overall economic environment, we are confident of achieving the annual targets we have set ourselves. We will support our growth by expanding our products and services for digital printing in the label market and launching new network-capable products. wallboxes in the electromobility sector.”
The forecast for the 2022/23 financial year is confirmed
Despite continued global uncertainties, HEIDELBERG believes it also has good opportunities for profitable growth in the 2022/23 financial year. The company continues to expect sales figures to grow to around €2.3 billion (2021/22: €2.183 billion), provided there is no significant downturn in the overall economic environment. Profitability is also expected to improve further. HEIDELBERG expects a further improvement in the EBITDA margin to at least 8% for the financial year 2022/23 (2021/22: 7.3%). Net profit after tax is also expected to increase slightly compared to 2021/22 (€33 million).
High level of demand despite economic uncertainties
Incoming orders of €607 million in the first quarter showed a return to the pre-pandemic 2019/2020 level (€615 million), although business in china was held back by the two-month COVID-19 lockdown shanghai and the war within Ukraine led to weaker demand Eastern Europe. It was not quite possible to reach the previous year’s high figure of 652 million euros, as this had been unusually high due to the China Print fair in 2021. However, the order book experienced a significant new increase of 15 percent in the first quarter. , with a total of 969 million euros at 30 June 2022 (previous year: 840 million euros).
All segments increased their sales in the first quarter. Growth in packaging solutions, at around 28%, was particularly strong. The Group also recorded slight increases in its incoming orders and sales figures in electromobility, although the availability of electronic components was somewhat restricted. Further growth in this segment is expected to weaken slightly due to the end of promotional schemes, longer delivery times for electric vehicles and supply chain bottlenecks on the customer side (relative to installation).
Significant improvement in operating results
With the significant increase in EBITDA to 35 million euros (the same quarter of the previous year: 15 million euros), the EBITDA margin increased from 3.5% to 6. 7% The substantially higher sales volume and improved order price quality had a positive impact in this regard, as well as the sale of a site in St. Gallen, which generated a slight amount of two million euros. On the contrary, however, the increase in material costs and the temporary closure of the plant shanghai it had a negative effect. The net result after taxes was positive during the analyzed period and amounted to 5 million euros (previous year: -14 million euros).
Net financial debt remains low: equity ratio increases
After three months, a free cash flow situation close to balance has been reached, with a figure of -1 million euros (previous year: 29 million euros). Compared to the previous year, a slight increase in net working capital was noted. This increase is due to high order volume and lower income from asset sales. With a figure of 5 million euros, the net financial debt remained at a low level (previous year: 41 million euros). HEIDELBERG also recorded further progress in terms of its capital ratio. Together with the quarterly profit, this grew by around 18 per cent, partly due to the increase in the actuarial interest rate on pensions in Germany.
“In addition to the recovery of the markets, we are increasingly reaping the benefits of the measures we have taken to increase efficiency within the group,” commented HEIDELBERG’s CFO. Marcus A. Wassenberg. “At the start of the new financial year, HEIDELBERG is once again more robust and in a good financial position. We are therefore confident as we look to the future, despite the economic risks.”
The full first quarter 2022/23 report, stock footage and more information about the company is available at Relations with investors i press room of Heidelberger Druckmaschinen AG a www.heidelberg.com.
Heidelberg IR also on Twitter:
Link to IR’s Twitter feed: https://twitter.com/Heidelberg_IR
On Twitter with the name: @Heidelberg_IR
More information:
Group communications
Thomas Fichtl
Telephone +49 6222 82-67123
Fax +49 6222 82-67129
E-mail: [email protected]
Relations with investors
Maximilian Beyer
Telephone: +49 6222 82-67120
Fax: +49 6222 82-99 67120
E-mail: [email protected]
Important note:
This press release contains forward-looking statements based on assumptions and estimates of the Board of Directors of Heidelberger Druckmaschinen Aktiengesellschaft. Although the Board of Directors believes that these assumptions and estimates are realistic, actual future development and results may deviate materially from these forward-looking statements due to various factors, including changes in macroeconomic conditions, the exchange. rates, interest rates and the print industry. Heidelberger Druckmaschinen Aktiengesellschaft makes no guarantees and assumes no liability for damages in the event that future development and anticipated results do not correspond to the forward-looking statements contained in this press release.
SOURCE Heidelberger Druckmaschinen AG
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