Heidelberg’s Sales Flat, but New Products and Organization Promise Long-Term Profitability

At €3 million, the operating result excluding special items remained on a par with the previous year (€4 million) despite non-recurring expenditure. A higher provision for risks made necessary as a result of the Eastman Kodak being subject to insolvency proceedings under U.S. insolvency law (“Chapter 11”) had a negative impact on results in the low two-digit million euro range. Special items in the financial year just closed totaled €142 million due primarily to the Focus 2012 efficiency program, which resulted in an operating result after special items of €-139 million (previous year: €6 million).