Manroland's struggling sheetfed business delivers a profit for 2013, making good on its hard road back from insolvency. The German offset press giant officially hit the wall in late 2011, before being picked up by British industrialist and turnaround specialist Tony Langley and gradually rehabilitated over the next two years.
Manroland Sheetfed continues its path to recovery, and is said to have traded in line with expectations and posted a small profit on a turnover of €314 million for the year ended December 31, 2013, down from reported €346 million for 2012. The Offenbach-based business racked up just over 100 press sales or 528 printing units worldwide, a healthy turn-out propped up by a determined heavy metal revival in the local market.
- Steve Dunwell
The results were released in Langley Holding's annual report and accounts for 2013, which noted that the press manufacturer contributed some €10 million to the group's €91.4 million profit before tax. Local manroland managing director, Steve Dunwell, received news of the positive trading figures while he was on site in Offenbach during the last week of January.
Speaking with Print21 Dunwell said, "The mood in the company is very positive. The results are good and they are very pleased with our performance in Australia. Right now we have three sheetfed installs in the works, with presses going at Colorpak and Hannapak, and the year coming up is looking good. Everyone has a very positive outlook.”
manroland CEO, Rafael Penuela, pins the success on a refined strategy of cost reduction, while focusing on increased productivity for the existing customer-base.
Dr. Peter Conrady, head of sales, manroland Sheetfed, said, "We are delighted with this result which was slightly higher than budgeted. We have a turnover in excess of our €300 million target with a positive operating profit and this is very good news."