Heidelberg is satisfied with the first nine months of its fiscal year, which it reports "the solid balance sheet" . With the good sales performance and the significant improvement in the operating result, the German printing press manufacturer confirms its forecast for the entire fiscal year 2022/23.
"Euros against the current" of the general trend in the mechanical industry
For the third quarter (October 31 to December 31, 2022), the German press group estimates that it was able to be "against the general trend in the mechanical industry" 630 million, with orders stable at
Sales reached 609 million euros, an increase of approximately 5% compared to the same quarter of the previous year.
Adjusted for non-recurring effects, earnings before interest, taxes, depreciation and amortization (EBITDA) were 18 million Euro higher than in the previous year, mainly as a result of the higher sales.
Nine-month sales up 10 percent
For the first nine months, new orders were "remained stable" and to "a high level" 1,859 million (previous year: '1,888 million), despite the economic uncertainties. They amounted to 1,859 million euro (compared with 1,888 million euro the previous year).
Sales for the three quarters of the current fiscal year exceeded the previous yearâ??s figures. At 1,729 million euros, they are 10 percent higher than in the previous year (1,565 million euros).
After three quarters, EBITDA amounted to 144 million euros (previous year: 132 million euros), which corresponds to an EBITDA margin of 8.3 percent.
Net income after tax also increased significantly to 54 million Euro (compared to 40 million Euro in the equivalent period of the previous year).
A growth "particularly strong" in the packaging division
In detail, the packaging printing division (Packaging Solutions segment) experienced "a particularly strong growth" in the third quarter.
Incoming orders from October to the end of December 2022 were up 18% over the prior year figure and 5% for the nine months.
Sales for the nine-month period amounted to 812 million euro, up 22% on the same period of the previous year.
In commercial printing (Print Solutions segment), sales after nine months rose to 898 million Euro. In contrast, incoming orders decreased slightly.
In the technology Solutions sector as in the first half of the year, changes in German policy on incentives for electromobility did not allow the Wallbox business, Heidelberg's brand for electric car chargers, to continue the exceptional growth in order intake and sales of the previous year.
Forecasts maintained
The manufacturer is maintaining its forecast for the 2022/23 financial year. The group expects sales to increase to around 2.3 billion euros (compared with 2.18 billion euros in 2021/22) and the EBITDA margin to at least 8 percent in fiscal year 2022/23 (compared with 7.3 percent in the previous year). Net income after tax is also expected to improve slightly compared to 2021/22.
