Heidelberg Achieves Significant Improvement in Result for Q1 of 2013/2014

Thanks to the free cash flow breaking even, at EUR 258 million net debt remained at almost the same level as at financial year-end 2012/2013 and did so despite further payments for Focus 2012 amounting to some EUR 31 million in the first quarter.

"Thanks to systematic asset management over the past four years, we have succeeded in also covering our restructuring costs with the free cash flow. This has enabled Heidelberg to keep its net debt at a low level," noted CFO Dirk Kaliebe. "With the recent successful convertible bond issue and our existing bond, the majority of our debt is now covered by long-term capital market instruments. This places Heidelberg on a sound financial footing," he added.