As a result of the forthcoming transformation activities and the optimization of processes and structures in the context of operational excellence, Heidelberg is assuming restructuring expenses of around EUR20 million in the new financial year.
Interest expenses are to be reduced to around EUR20 million in the medium term as a result of the ongoing optimization of our credit facilities. However, the anticipated positive effects will initially be outweighed by the negative impact of the planned early partial repayment of the existing high-yield bond (8 percent) in 2018/2019. However, this move will reduce interest expenses in subsequent years.
In the financial year 2018/2019, while Heidelberg is also forecasting higher tax expenses at foreign Group subsidiaries, the company still expects a moderate increase in earnings after taxes compared to the previous year (including a non-recurring tax effect in 2017/2018), which is set to rise further in subsequent years.
Image material, the Annual Report for financial year 2017/18, and additional information about the company are available in the Press Lounge of Heidelberger Druckmaschinen AG at http://www.heidelberg.com.
Heidelberg IR now on Twitter:
Link to the IR Twitter channel: https://twitter.com/Heidelberg_IR
On Twitter under the name: @Heidelberg_IR
Important note:
This press release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future development and results may deviate substantially from these forward-looking statements due to various factors, such as changes in the macro-economic situation, in the exchange rates, in the interest rates and in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft gives no warranty and does not assume liability for any damages in case the future development and the projected results do not correspond with the forward-looking statements contained in this press release.
Further Information
Heidelberger Druckmaschinen AG Postfach 10 29 40 69019 Heidelberg Deutschland Kurfürsten-Anlage 52-60 69115 Heidelberg
http://www.heidelberg.com
Corporate Public Relations Thomas Fichtl Phone: +49-6222-82-67123 Fax: +49-6222-82-67129 E-mail: Thomas.Fichtl@heidelberg.com Investor Relations Robin Karpp Phone: +49-6222-82-67120 Fax: +49-6222-82-99-67120 E-mail: robin.karpp@heidelberg.com
