Heidelberger, a global provider of printing and packaging solutions, has reported a 2.5% decrease in net sales, amounting to €1.68bn ($1.81bn) for the first nine months (9M) of financial year 2023/24 (FY23/24), compared to €1.729bn in the previous financial year.
The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also saw a decrease to €135m during the period, from €144m in the same period a year ago.
Go deeper with GlobalData
Despite the drop in net sales, Heidelberger’s adjusted EBITDA showed an improvement from the previous year, with the figure after three quarters reaching €135m, up from €125m in 9M FY22/23.
The adjusted EBITDA margin increased to 8.0% in 9M FY23/24, compared to 7.2% in the same period the previous year.
However, the net result after taxes remained positive at €34m, though this was lower than the previous year’s €54m, impacted by higher tax expenditure, increased pension-related interest costs, and the absence of positive special items.
Its earnings per share also declined to €0.11, down from €0.18 in the first nine months of the previous financial year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn the third quarter (Q3) of FY23/24, Heidelberger’s net sales were €594m, a slight decrease from €609m a year earlier.
The company’s EBITDA for Q3 was €34m, down from €41m in the same quarter of the previous financial year.
Heidelberger CFO Tania von der Goltz said: “Heidelberger is facing up to the changed underlying conditions, acting quickly to counter rising costs and the weaker order situation. What’s more, the value creation programme will already make a positive contribution to free cash flow amounting to around €60m in this financial year.”
The company maintains its forecast for FY23/24 as published on 14 June 2023, with sales and adjusted EBITDA margin to remain at the previous year’s level of €2.435bn and 7.2%, respectively.
