Heidelberg Sees Incoming Orders Rise as Quarterly Sales Lag

The preliminary free cash flow is between €-105 million and €-115 million, largely due to an increase in inventories resulting from the incoming orders received and the payments made for the Focus 2012 efficiency program.

Outlook for current and next financial year unchanged
As a result of the trade show, Heidelberg is expecting sales to show a distinct shift to the second half of the financial year with a corresponding improvement in profit contributions. The company implemented the main measures of the Focus 2012 efficiency program before drupa, which means up to a third of the planned annual savings of €180 million will take effect during the current financial year. Heidelberg is still expecting to achieve a clearly positive result of operating activities excluding special items for financial year 2012/2013.