Heidelberger Druck posts a loss
The printing press manufacturer Heidelberger Druck slipped deep into the red in the first quarter of its 2008/2009 fiscal year. As the company announced on Tuesday, the consolidated net loss amounted to 39 million euros.
Printing press manufacturer Heidelberger Druck has slipped deep into the red in the first quarter of its 2008/2009 financial year. As the company announced on Tuesday, the consolidated net loss amounted to 39 million euros. Sales fell from 742 to 657 million euros. On the other hand, incoming orders increased from 934 million euros to 1.15 billion euros thanks to impetus from the Drupa trade fair. Earnings before interest and taxes (EBIT) deteriorated from plus 26 to minus 35 million euros. According to Heidelberger, the decline in sales and earnings was due to the difficult market conditions and customers' reluctance to invest in the run-up to the industry trade fair. For the financial year as a whole, the company expects sales and operating result to remain below the previous year.
