Heidelberg Reports Positive Operating Result for First Time in Two Years

Due to the financial result still having a very negative impact on the result before taxes, the company recorded an annual loss of EUR -129 (previous year: EUR -229 million). A proposal will therefore be put to the Annual General Meeting not to pay a dividend for the year under review.

The free cash flow was much better than expected. Despite high restructuring costs in the year under review, it reached EUR 75 million and was thus EUR 137 million better than the previous year's figure of EUR -62 million. The greatly reduced annual loss and the successful management of net working capital played a major part in this improvement.