21 July 2020
Heidelberg Takes $394 million Loss
GERMANY—
Heidelberg  bright light the Shanghai China factor opened in 2006
Heidelberg bright light the Shanghai China factor opened in 2006
 Heidelberg the world's largest  offset press manufacturer announced results  for the financial year ending 31 March, which involved a net loss of $394 million ( US)  with sales down 5.7% at $2.7 billion (US) . Heidelberg  has implemented a set of restructuring measures, including the loss of 1,600 jobs worldwide,  discontinuing lines  XL 140 & 162 and Primefire presses ,
Head Office in Germany
Head Office in Germany
to  improve profitability by $115 million (US) . EBITDA margins fell from 7.2% to 4.3% in its 2019/2020 results. Heidelberg has said that it, excluding restructuring costs, it aimed to post a stable EBITDA margin on lower sales in the new financial year. Heidelberg said that business in China, which is its biggest single market, is picking up again and has already surpassed the prior year level.
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