Heidelberg Initiates Further Reorganization; Announces Financial Targets, Site Consolidation

"Not only have we achieved all our results targets, but our asset and net working capital management program has also brought further successes in terms of cash flow and free cash flow and thus reducing our net debt," said Heidelberg CFO Dirk Kaliebe. "At the end of the financial year, we thus achieved our goal of reducing the leverage (net financial debt divided by EBITDA) to less than two for the first time in many years," he added.