Heidelberg Reaches Important Strategic Milestones - Forecast for Year as a Whole Confirmed
Summary
The enhanced partnership with Masterwork opens up a great deal of potential for us in the growing packaging sector and on the huge Chinese market," comments Heidelberg CEO Rainer Hundsdörfer. As in the preceding quarters, free cash flow was influenced by factors such as an increase in inventories (caused by the growing order backlog and longer-than-planned throughput times due to supply bottlenecks), the start-up of digital operations, and investments in the now-completed construction of the innovation center at the Wiesloch-Walldorf site. Our balance sheet quality will be further improved, not just by the partial redemption of our high-yield bond, but more importantly by the capital measure associated with the entry of our anchor shareholder Masterwork, which is anticipated to take place in the final quarter," said CFO Dirk Kaliebe. Image material, the interim report for the first nine months of financial year 2018/2019, and additional information about the company are available in the Press Lounge of Heidelberger Druckmaschinen AG at http://www.heidelberg.com. Heidelberger Druckmaschinen Aktiengesellschaft gives no warranty and does not assume liability for any damages in case the future development and the projected results do not correspond with the forward-looking statements contained in this press release.
