Heidelberg Publishes figures for Second Quarter, First Six Months of 2012/2013

Outlook confirmed for the current financial year 2012/2013; amendments to IAS 19 taken into account in the forecast for financial year 2013/2014
The sovereign debt crises and the volatile overall economic and market environment continue to make it difficult to forecast how business will develop. For the current financial year 2012/2013, Heidelberg expects a clear shift into the second half-year of the sales favored by orders generated at the trade show, with a consequent improvement in profit contributions. Heidelberg continues to expect a clearly positive result of operating activities excluding special items, which, however, was negatively impacted especially in the first half of the year by costs incurred for drupa and product launches. Around one third of the planned savings from the Focus 2012 efficiency program of approximately EUR180 million will already take effect in the current financial year. The expenditures required for this purpose, however, will weigh on the financial result. As a consequence, income before taxes will be negative. In the financial year 2012/2013, free cash flow will see a significant negative impact from the pro-rata expenditures for Focus 2012; thus, net financial debt will also increase in the meantime.