Heidelberg Says Results in Line with Expectations in Difficult Economic Environment

Despite lower sales revenues, the result of operating activities excluding special items after nine months has improved to €-19 million (previous year: €-26 million). The special items amounting to €10 million mainly consisted of expenditure relating to further restructuring.

Thanks to successful refinancing and lower financing costs, the financial result improved significantly on the previous year from €-103 million to €-62 million. The result before taxes for the first nine months improved from €-103 million in the same period the previous year to €-91 million. After three quarters, the shortfall for the current financial year is €-79 million (previous year: €-78 million).