Heidelberg exceeds financial forecast
Heidelberg announced it surpassed its own forecast for the financial year of 2020/2021. A strong final quarter produced sales of around € 1.913 billion, which were slightly above the forecast range of € 1.85 billion to € 1.90 billion.
Incoming orders rose to around € 2.0 billion by the end of the financial year, which the company attributes to rising demand particularly in China. Orders from Europe, and the US in the final quarter were able to push orders.
In the fourth quarter alone, the order intake improved significantly to €579 million, from
€462 million in the same quarter of the previous year. The order backlog thus increased to a level of € 636 million, providing a favorable basis for the new financial year.
"With a strong final spurt, we have been able to continue our recovery in business volume since the Corona-induced low in the summer," said Rainer Hundsdörfer, Heidelberg’s CEO. "The upturn in the regions makes us confident that we will be able to continue our upward trend in net sales and margin in the future."
Additionally, Heidelberg’s transformation program further came into effect. At €146 million, EBITDA excluding restructuring result in financial year 2020/2021 was significantly higher than in the previous year (€102 million). The EBITDA margin of around 7.6 percent exceeded the company's own forecast of around 7 percent, even though the expected income from the sale of land at the Wiesloch site will only be recognized in the new financial year.
"The consistent and rapid implementation of our transformation program has stabilized Heidelberg during the pandemic and, with the tailwind of the market recovery setting in, provides the foundation for profitable growth," said Marcus A. Wassenberg, the company's CFO.
As expected, the preliminary result after taxes in financial year 2020/21 has improved significantly year-on-year. Due to the favorable final quarter, the loss is expected to be somewhat lower than previously anticipated.