Due to the economic consequences of the COVID-19 pandemic across all segments and regions, Heidelberg has confirmed net sales in the first quarter of 2020/2021 (1st April to 30th June 2020) amounted to approximately €330m, down by around one-third on the same quarter of the previous year (€502m). During the first three months, incoming orders dropped by 44% to €346m (€615m). Besides the restrained investment activity caused largely by COVID-19, this disparity is also due to the high level of incoming orders in the previous year, which can be attributed to the China Print trade show. On 30th June, the order backlog was €605m and markedly down on the same quarter of the previous year (€730m).
The company says clear signs of recovery from the effects of the COVID-19 pandemic emerged in the final month of the quarter under review. Compared to May, incoming orders rose by around 27% in June. This upward trend in new orders continued into the start of the second quarter in July, with incoming orders surpassing the total for June.
EBITDA excluding restructuring result was €60m (€14m). Earnings of €73m from the reorganisation of the company pension plans for employees in Germany and the use of short-time working helped to counteract the drop in sales. EBIT excluding restructuring result was €40m (€ –10m). Planned provisions for the realignment of the Group resulted in a restructuring result of € –20 million. Due to a stable financial result and lower taxes, Heidelberg achieved a net profit after taxes of €5m in the first quarter of the year, compared to a net loss after taxes of € –31m in the same quarter of the previous year.
