Heidelberg claims restructuring overcoming Covid-19

In its press release dated 10 November 2020, Heidelberg Druckmaschinen says that by systematically and swiftly implementing its transformation, it has further strengthened its position in the first half of the 2020/2021 financial year (1 April to 30 September 2020). With several measures adopted as part of the transformation program launched this March to boost profitability, enhance competitiveness, and secure the company’s future, Heidelberg says it has been able to more than compensate for the negative effect on earnings caused by a significant drop in sales due to the Covid-19 pandemic. Heidelberg has again achieved a positive EBITDA, excluding restructuring results in the second quarter of the current financial year, recording €97 million in the first six months – a significant increase from the previous year (€69 million). The EBITDA margin for the half-year was 12%, compared with 6.2% in the same period of the last year. Simultaneously, the net financial debt was successfully reduced from €416 million in the previous year to €157 million. Improvement in Q2, especially in China In terms of sales…

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