For the financial year ended 31 March 2022 the manufacturer posted sales up 14% to €2.18bn (£1.87bn) with an EBITDA margin of 7.3% (prior year 5%), in line with the preliminary results.
Heidelberg’s goal for the 2022/23 is for sales of around €2.3bn and EBITDA margins of at least 8%.
Under the strapline ‘Technologies for Tomorrow’ new CEO Ludwin Monz and CFO Marcus Wassenberg said in a joint statement that Heidelberg would concentrate on expanding its market position in its core printing business “pressing ahead with the digitisation and automation of all print shop processes with the aim of increasing our customers’ productivity and lowering their costs”.
As part of its digitisation push, Heidelberg unveiled its vision for a ‘whole printshop portal’ last month.
The group’s order backlog, at €900m, was the highest in a decade.
Monz said the “overwhelming importance” of the core printing business “will not change anytime soon”.
The group will also continue to develop new business areas, such as its successful e-mobility charging station unit.
Wassenberg noted that net debt, which two years ago had been some €400m, had been “completely eliminated in the past financial year – this should be emphasised”.
The period has involved multiple disposals including the £26.8m sale of its Brentford site in the UK and a £12.4m deal for part of its Wiesloch site in Germany.
Monz said the reduction in its cost base had helped the firm weather the pandemic and ongoing global supply chain disruption.
“Our high degree of vertical integration is helpful in the current supply chain crisis,” he stated.
“We also consider our two location strategy – Germany and China – to be a competitive advantage.
“But even this broad geographic positioning is not enough to absorb all of the material cost increases to which we are exposed. Some of the costs have to be passed on to customers. It is important for us to observe this development extremely closely and respond with additional measures as required.”
Monz also said that if he could wish for one thing right now, it would be an end to the war in Ukraine, and said the suffering from the war was “hard to endure”.
“Moreover, it is destabilising our world order and our value system. The global economy is seeing a high degree of uncertainty and extensive disruption to supply chains.
“This could have unpredictable consequences for the industry, and hence for Heidelberg. Ending the war is the first and most important step in helping this situation to return to normal.”
Heidelberg returned to the German stock market SDAX at the end of last year thanks to the improvement in its share price and market capitalisation over the course of 2021.
The group’s share price was up 2.8% in early trading today, to €2.02 (52-week high: €3.14, low: €1.58).
