Heidelberg Reports Incoming Orders Up 43 Percent

The Heidelberg Services division is less closely tied to economic cycles than the Heidelberg Equipment division and has therefore been less affected when orders have fallen off. Even so, this division recorded higher incoming orders and sales than in the same quarter the previous year. Incoming orders were 15 percent up (8 percent after adjustment for exchange rate movements) at EUR 280 million, while sales were 13 percent higher (5 percent after adjustment for exchange rate movements) at EUR 261 million. At EUR 10 million, the operating result excluding special items was much better than the previous year's figure of EUR -11 million. This was the result of a more favorable sales mix, the increase in sales, and a lower cost base.