Heidelberger profit dips to €34 million in Q1

 

BERLIN – German engineering company Heidelberger Druckmaschinen on Wednesday reported a nine-month profit of €34 million ($36.6 million), a decline from last year’s €54 million.

Earnings per share were €0.11, compared to €0.18 a year ago.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was €135 million, compared to €125 million last year.

The corresponding adjusted EBITDA margin increased to 8% from previous year’s 7.2%.

The technology company achieved sales of €1.69 billion, down from €1.73 billion a year ago.

Following the good first half-year, incoming orders in the third quarter reflected the economic climate.

Overall, orders were significantly weaker at €1.692 billion, compared to previous year’s €1.859 billion.

Looking ahead for fiscal 2024, the company is still expecting sales to match the previous year’s figure.

The adjusted EBITDA margin is also anticipated to remain at the previous year’s level.