While the net profit amounted to €61m, Heidelberg CFO Dr Herbert Meyer says the operating profit, including the operating loss from NexPress, improved from €10m to about €160m. “Through the deep restructuring of Heidelberg, we achieved this great improvement in earnings which will have continuing effects,” says Meyer.
CEO Bernhard Schreier agrees the company is on track to increase profits again in the new financial year as prices increase and customers order more equipment. “Even if the markets and the global economy did not exhibit the robust growth that we had hoped for, particularly in recent months, the figures nevertheless show that we are right on track and that our measures are beginning to take hold,” says Schreier.
Heidelberg now concentrates on its next expansion, a new production site in China scheduled for completion by the start of 2006.