Heidelberg Initiates Further Reorganization; Announces Financial Targets, Site Consolidation

Positive cash flow and free cash flow—further reduction in net debt, with leverage
The cash flow and free cash flow were both positive in the reporting year. Reducing the company's capital commitment has compensated for payments for the Focus efficiency program totaling some € 95 million and enabled a positive free cash flow of € 22 million to be achieved (previous year: € -18 million). This reduced the net debt at the end of the financial year to € 238 million (previous year: € 261 million).