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Heidelberg Posts Net Loss In Q1; Projects Slightly Positive FY Net Result After Taxes

Heidelberger Druckmaschinen AG (HBGRF.PK) said the company has been able to deliver the promised improvements in sales and operating profitability in the first quarter. Sales rose by around a third and incoming orders increased by nearly 90 percent year-on-year.

For the first quarter, net result after taxes was a loss of 14 million euros compared to profit of 5 million euros, previous year. Loss per share was 0.05 euros compared to profit of 0.02 euros. EBITDA declined to 15 million euros from 40 million euros. EBITDA margin was 3.5 percent, for the quarter. The company noted that EBITDA, which was influenced in the equivalent quarter of the previous year by high earnings of 73 million euros from the reorganization of retirement provision and the widespread use of short-time working, improved substantially on an operational level, for the quarter.

First quarter sales were around 441 million euros, compared to 330 million euros, last year. Incoming orders rose by close to 90 percent year-on-year to 652 million euros. This has increased the order backlog to 840 million euros.

Heidelberg said the company is standing by its targets for fiscal 2021/22. The company anticipates an increase in sales to at least 2 billion euros. Heidelberg is expecting a slightly positive net result after taxes in fiscal 2021/22.

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