Printing machines maker Heidelberger Druckmaschinen Aktiengesellschaft (HBGRF.PK) reported a wider first-quarter net loss of 74 million euros, compared with a loss of 46 million euros in the previous year. Loss before taxes also widened to 82 million euros, from a 47 million euros loss last year.
Sales for the first three months of the current fiscal year decreased to 520 million euros, from 544 million euros a year earlier.
In the next financial year, the cost savings resulting from FOCUS 2012 would take full effect and lead to annual savings of some 180 million euros. Therefore, the company still expects to achieve a result of operating activities, excluding special items, of around 150 million euros and a net profit in fiscal year 2013/2014.
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by RTT Staff Writer
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