Heidelberg achieves sales of around Euro 5 billion in current fiscal
Aims to become an 8-billion-Euro company by 2007
Heidelberg remains bullish despite posting a significant drop in profits for the year ending March 31 2002. Compared to the previous year, turnover was down 5 percent from €5.3bn to €5bn, operating profit fell from €506m to €356m and annual net profit was down from €283m to €201m. Orders received were €4.6bn against the previous year's €5.5bn, although Heidelberg is confident the downturn in orders has flattened out and expects an upturn starting in the second half of 2002.
Heidelberg CEO Bernhard Schreier is upbeat. ''Despite the weakness in the global economy we have achieved a significant result and have succeeded in reinforcing our leading position in the industry. We are confident that our strategy as solution provider will see us well positioned to respond effectively to a coming upturn.''
Heidelberg expects increased sales and orders in the digital printing sector over the current fiscal year. It also plans to win market share by leading the way in both technology and cost aspects in the sheetfed offset sector.
All in all, Schreier believes that Heidelberg can profit very considerably from an economic revival and, if the positive predictions come true, will achieve an almost two-digit growth in sales over the following years. ''We still aim to become a 8-billion-Euro company by 2007,'' claimed Schrier.
