Heidelberg Releases Annual Report
Sales were up five percent at EUR 2.735 billion for Heidelberger Druckmaschinen AG in fiscal year 2012-2013, but special items and negative financial results lead to a net loss for the year, according to the annual report released by the company in June.
Despite the net loss, several areas of the business marked positive growth for a company in the midst of a transition since the industrys low point in 2008. The companys Earnings Before Interest, Taxes, Depreciation and Amortization(EBITDA) improved, as did free cash flow (excluding payments for Focus 2012) and its net debt remains stable at EUR 261 million.
The companys goal for the next fiscal year is to reach a net profit and sustain it. Further reducing the company’s debt level will give Heidelberg greater flexibility in assessing and optimizing its portfolio based on its future profitability. To achieve this, Heidelberg has begun addressing its operating segments and started revising and adapting its business areas.
For more information, visit www.heidelberg.com.