Heidelberg closed the 2021/22 financial year successfully and is seeing a recovery in the order situation: the order backlog is at its highest level for 10 years. Overall, the company was able to increase its sales by around 14 per cent compared to the previous year.
The Heidelberger Druckmaschinen AG has achieved its own forecast for sales and EBITDA margin for the past 2021/22 financial year (1 April 2021 to 31 March 2022) according to preliminary calculations (unaudited) and has returned to profit. The Turnover at € 2.183 billion was around 14 per cent higher than in the previous year and thus met the target of at least € 2.1 billion. The improved investment climate was reflected in the Increase in incoming orders by more than € 450 million to € 2.454 billion compared to the previous year.
Both the Advertising printing and packaging printing achieved significant growth in the past financial year. compared to the previous year, although the increase in advertising printing was stronger due to the weak comparative period. Demand increased across almost all products and in all regions, particularly in the Investments in new machines were the most important driver. As at 31 March 2022, the order backlog was at its highest level for over 10 years at around € 900 million (previous year: € 636 million).
„In a challenging environment, we have grown in all core business areas, both in terms of sales and earnings. The high order backlog resulting from the noticeable market recovery in the past financial year provides a good foundation for sales in the new financial year. However, like most other companies, we are currently facing challenges due to the effects of the war in Ukraine. We have to deal with the economic uncertainty and the significant rise in raw material and energy prices. Heidelberg has emerged from the trough of the COVID-19 pandemic extremely successfully. We will continue to work on strengthening our core business in the printing sector. This will give us the freedom to expand into new markets at the same time.“
Dr Ludwin Monz, Chairman of the Management Board of Heidelberg
The Positive sales development and improved cost efficiency has also had a noticeable impact on earnings. EBITDA rose to € 160 million in the financial year (previous year: € 95 million). In addition to the operating improvements, income from asset management, in particular the sale of docufy (around € 22 million) and a property in the UK (around € 26 million), also made a positive contribution.
As expected, the preliminary after-tax result improved year-on-year to € 33 million in the 2021/22 financial year (previous year: € -43 million). Free cash flow for the year as a whole was positive at € 88 million, primarily due to the reduction in net working capital and income from asset sales in the reporting period.
Source: Heidelberger Druckmaschinen AG
