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Heidelberger Druckmaschinen Posts Preliminary FY Loss

Heidelberger Druckmaschinen reported that its preliminary net result after taxes fiscal year 2019/20 was negative 343 million euros, compared to profit of 21 million euros last year.

The company said that its business performance in fiscal year 2019/20 was negatively impacted by the increasingly deteriorating economic environment caused by the Covid-19 pandemic.

Preliminary operating profit (EBITDA) excluding the effects of restructuring for the full year was 102 million euros, compared to 180 million euros in the previous year.

Preliminary consolidated sales were 2.35 billion euros, down around 6 percent on the previous year. The reluctance to invest due to the economic situation, particularly in Europe, had a negative impact on business.

The company said it will publish its audited financial statements and the business report for 2019/20 on June 9.

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