Heidelberg hits back with sales surge

Increased incoming orders and sales spells strong third quarter results for Heidelberg.

The offset press manufacturing giant reported third quarter results for the 2010/2011 financial year that saw order levels improve by 25 per cent over the first nine months, to reach EUR 2,120 million (an increase on the previous year’s figure of 1,693 million). Sales also improved in the third quarter, reaching the highest level for the current financial year at EUR 687 million.

Group CEO, Bernhard Schreier, (pictured) attributes the jump t “stable growth in the global economy”. However, he still pointed out that economic recovery has not yet reached all corners of the globe.

“While incoming orders are rising steadily in Asia, Europe and Latin America, the recovery in the key US market has been slow to set in,” he said. “The positive developments of the past nine months show that we are on track to achieve our target – a break-even operating result for the current financial year.”

Looking ahead for the current financial year 2010/2011, Heidelberg expects “modest growth” in sales, with the repayment of financial liabilities from the proceeds of capital increasing expected to place a heavy burden on the financial result.

At 31 December 2010, Heidelberg employed 15,981 staff worldwide. During the first nine months of the current financial year, the headcount dropped by a total of 515.