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Heidelberg has announced improved annual results after posting its best Q4 performance for nine years.
The press manufacturer saw slight increases in sales and a larger increase in net profits after tax in a year that saw it bring in a new chief executive and announce a digital revamp.
A spokesman for Heidelberg confirmed that Q4 2016/17 was Heidelberg’s best Q4 performance since 2008 based on revenue and profit, after sales rose just shy of 20% on the same quarter last year, from €710m to €845m, and net profit after tax increased €11m to €46m (31%). EBITDA increased by 21%, from €70m to €85m, while incoming orders rose 3%.
For the full year, the group experienced a 29% rise in net profits after tax, from €28m to €36m, while sales experienced a slight rise, from €2.512bn to €2.524bn. Heidelberg said that the more substantial growth in sales originally targeted for the year did not materialise due to planned acquisitions being postponed until the new reporting year.
The spokesman could not confirm when these acquisitions will go through but said that it had taken a “little bit longer” than Heidelberg had initially expected and that the deals would definitely complete in the next financial year.
The spokesman said: “In general for the whole financial year we have achieved our target. We increased sales moderately, the expected M&A deals will come soon, so we are in line with sales expectation and our other big goal was to increase net profit.”