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Heidelberg Sees Growth In FY19; On Track To Meet Medium-term Targets

Heidelberger Druckmaschinen AG (HBGRF.PK), a German precision mechanical engineering company, reported Tuesday that it is on track to meet medium-term targets.

These include an increase in Group sales to around 3 billion euros, an operating result or EBITDA of 250 million euros to 300 million euros, and a net result after taxes of over 100 million euros.

The company sees moderate growth in sales and net result after taxes in financial year 2018/2019, with significant progress with digital transformation.

According to the firm, the moderate growth in sales, combined with efficiency enhancement measures, including initial savings from the recently initiated operational excellence program, should allow an EBITDA margin excluding restructuring result in the range of 7 to 7.5 percent in the 2019 financial year.

CEO Rainer Hundsdörfer said, "As announced at the last Annual Accounts Press Conference, Heidelberg is well on the way to achieving its goal of once again becoming the lighthouse of the industry. Our digital transformation will continue systematically in financial year 2018/2019. Both our new subscription model and the new digital presses remain in high demand. Given that this will have a substantial impact on our sales and result from 2019/2020 onward, we can confirm our medium-term targets."

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