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Heidelberger Reaches Agreement With IG Metall Trade Union On Pension Scheme Restructuring

Heidelberger Druckmaschinen AG (HBGRF.PK) announced Tuesday that its Management Board and employee representatives have reached an agreement with the IG Metall trade union on the restructuring of the company pension scheme for the employees in German companies.

A collective bargaining agreement brings together the previous pension arrangements of the German Heidelberg Group. In addition, a uniform dynamization of company pensions was agreed upon, which is based on the expected lower inflation. This makes the development of pensions more predictable for employees, pensioners and the company and at the same time reduces administrative costs.

The new regulation leads to a reduction in the expected future pension increases and, with a positive effect of around 65 million euros on the operating result (EBITDA), strengthens the company's equity in the current first quarter of the financial year. Until July 24, 2020, the contract is subject to a committee reservation by IG-Metall.

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