Heidelberg Reports Global Economy Weighed Down Fiscal Year Sales

Almost all 179 million Euro invested in the cost-cutting program were incurred during the financial year just closed. Heidelberg expects to realize savings of between 350 and 380 million Euro in the financial year 2009/2010.

The global economic downturn continued into the fourth quarter (January 1 to March 31, 2009), leading to a sharp drop in orders by 43 percent to 474 million Euro for the quarter compared to the same quarter last year (previous year: 825 million Euro). At 788 million Euro, sales were down 28 percent on the same quarter last year (previous year: 1.102 billion Euro). Incoming orders up to March 31, 2009 amounted to 649 million Euro (previous year: 874 million Euro).