In preliminary results for the financial year ending 31 March sales were down 1.4% at €2.4bn (£2.05bn) while the EBITDA margin was 7.2% – in line with Heidelberg’s forecasts.
Incoming orders were down about 6%, but “developed better than the industry average” the manufacturer stated, with a boost in orders from Asia, and China in particular, during Q4.
Heidelberg benefited from the results of its value creation programme, which involves more than 250 initiatives aimed at cutting costs and improving productivity.
Excluding the impact of the asset sales that took place in previous years, free cashflow of €50m was at its highest level in a decade.
CFO Tania von der Goltz said the results were proof of Heidelberg’s financial discipline “and our ability to deliver reliable results even in a difficult environment”.
“In a financial year that was characterised by a decline in orders across the industry, we achieved our targets and met our forecasts thanks to the value creation program we initiated at an early stage,” she stated.
Outgoing CEO Dr Ludwin Monz, who steps down at the end of next month, said the performance was “solid” in the face of a difficult economic environment.
Heidelberg said it was well prepared to capitalise on the upcoming Drupa expo, where its theme is ‘Unfold Your Potential’. It will highlight a suite of solutions that promise customers up to 20% higher productivity, including robotics.
Its exhibit in Hall 1 will include the world premiere for its new 'Peak Performance' Speedmaster XL 106, which prints at up to 21,000sph.
An eight-colour perfecting Speedmaster XL 106 with CutStar reel feeder and plate-to-unit setup, and a B2 XL 75 four-colour plus coater Anicolor model will be running in its commercial printing and publishing zone, along with a Versafire LV digital press and post-press setup.
An end-to-end automated packaging workflow in the packaging zone features post-press robotics, with a seven-colour plus coater Speedmaster XL 106 with logistics, a Gallus One label press, along with a raft of Mastermatrix and Diana post-press devices.
A unit of its new high-volume, web-fed Boardmaster flexo press for industrial carton production will also be on show, with Intellimatch prepress scanner.
In addition, the manufacturer will be running a number of special demonstration days at its massive Wiesloch-Walldorf near Heidelberg facility during the show.
Heidelberg's share price fell by 1.93% to €0.97 on the news (52-week high: €1.78, low: €0.85).
