Outlook: Plans to improve result in financial year 2014/2015 - target EBITDA margin of no less than 8 percent in financial year 2015/2016
Heidelberg is expecting to match the sales achieved in the reporting year in the current financial year 2014/2015. As in the previous year, sales are once again expected to be higher in the second half of the financial year than in the first.
Having succeeded, as forecast, in achieving a positive annual result in reporting year 2013/2014, the declared goal for financial year 2014/2015 is to further improve the company's profitability in order to get closer to the medium-term objective of an operating margin of no less than 8 percent in terms of EBITDA and improve the result after taxes in spite of the higher level of interest expense for financial liabilities. The extent of the improvement in the current financial year 2014/2015 will essentially depend on the realizability and timing of the portfolio optimization measures that represent the strategic focus from this year onward. Provided the initiatives to improve the margin and optimize the portfolio are successfully implemented in the current financial year, the company expects to be able to achieve a margin of no less than 8 percent EBITDA on sales by financial year 2015/2016. The planned earnings improvements, combined with the measures to reduce or efficiently use the tied-up capital, should strengthen the capital structure and keep the net financial debt at a low level. This will create the conditions required to optimize the financial result as targeted.
As of March 31, 2014, the Heidelberg Group had a global workforce of 12,539 plus 502 trainees (previous year: 13,694 plus 521 trainees).
Images and further company information are available in the press portal of Heidelberger Druckmaschinen AG at http://www.heidelberg.com.
The 2013/2014 annual report can be accessed at 7 a.m. CET on June 11, 2014 at http://www.heidelberg.com.
Other dates:
The Heidelberg Annual General Meeting will take place on July 24, 2014.
The figures for the first quarter of financial year 2014/2015 are due to be published on August 13, 2014.
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.
For further information, please contact:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone +49(0)6221-92-5900
Fax: +49(0)6221-92-5088
E-mail: thomas.fichtl@heidelberg.com
Investor Relations
Robin Karpp
Phone: +49(0)6221-92-6020
Fax: +49(0)6221-92-5189
E-mail: robin.karpp@heidelberg.com
