Heidelberg Records Incoming Order Increase, Sales Decline

As a result of the successful capital increase in the past financial year and the improved operating result, the net financial debt fell considerably from €629 million in the previous year to €260 million and remained stable in comparison to the previous quarter (€247 million). Supported by consistent cash management, free cash flow in the quarter under review more or less balanced out at €-6 million despite one-off refinancing costs.