Giant's Record Growth

Heidelberger Druckmaschinen AG of Germany posted record financial results in its fiscal year ended March 31, 2001, increasing sales 15% to 5.3 billion euro (approximately $4.5 billion at current exchange rates) and operating profit by 10% to about $428 million. Incoming orders rose 18% to about $4.7 billion.

Sales in the Nafta region increased 16% to $1.5 billion, edged out only by revenues of $1.6 billion in Central Europe. Asia/Pacific achieved sales of nearly $850 million.

The company's sheetfed division, which traditionally accounts for the majority of income, increased sales 17% to $2.8 billion, followed by the web division, where sales rose 15% to $677 million. Close behind was the digital division, up 16% to $645 million. The finishing division accounted for $345 million in sales.

At fiscal year-end, Heidelberg's work force stood at just under 26,000 employees.

Commented chairman Bernhard Schreier, "Heidelberg expects to outperform the industry as a whole in 2001-2002, at a time when business is likely to be quite subdued." Barring unforeseen serious economic downturns, he added, company managers are optimistic about increasing sales into almost double-digit figures in the years to come. In five years, Schreier predicted that sales will be around 8.0 billion euro, or about $6.7 billion.

In other news, Heidelberg is changing its structure from business units to solution centers.