The figures for the second quarter at Heidelberger Druckmaschinen are somewhat below expectations. The company reports a turnover of 475 million euros, a decrease of 24 percent. Incoming orders fell by 20 percent to 518 million euros. The EBITDA stands at 35 million euros.
A transformation process is currently underway at Heidelberger Druckmaschinen. Obviously one is making progress. A high-yield bond has been repaid and job cuts are ongoing.
For 2020/2021, the company expects sales that are significantly below the previous year. The EBITDA margin should reach at least the previous year’s level of 4.3 percent. The bottom line is that a clear loss is expected.
The DZ Bank experts expect a turnover of 1.88 billion euros (previous year: 2.35 billion euros). There should be a profit per share of 0.03 euros (old: -0.06 euros). In the previous year, Heidelberger Druckmaschinen made a loss per share of EUR 0.21. For the coming financial year, 0.02 euros (old: -0.03 euros) are expected.
The analysts stick to the sell recommendation for the shares of Heidelberger Druckmaschinen. The price target is still seen at EUR 0.56.
The first signs of recovery in incoming orders can be seen in the past quarter, and restructuring is making progress. However, the uncertainties surrounding the pandemic persist. The balance sheet is also seen by the analysts as weak, the equity ratio is 5 percent.
The shares of Heidelberger Druckmaschinen gained 2.1 percent in the morning to 0.68 euros.