Heidelberg sets sights on €3 billion in sales

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Heidelberg
Germany.

Heidelberg will aim for €3 billion (INR 21,600 crore) in sales by 2022, an increase of €500 million (INR 3,600 crore) over its current sales figures.

At the manufacturer’s annual general meeting in Mannheim, Germany, around 1600 shareholders approved all items on the agenda with a clear majority, including the election of Oliver Jung to the Supervisory Board. Rainer Hundsdörfer, chief executive officer, introduced the ‘Heidelberg Goes Digital’ strategy, which will focus on technology leadership, digital transformation, and operational excellence.

“Over the next five years, Heidelberg will once again become a leading light in the sector, enjoying strong growth and profits. We’ve defined the relevant success factors and have already introduced initial measures. This marks the start of a new era of growth for Heidelberg,” Hundsdörfer said in a statement.

Heidelberg’s digital strategy was rewarded on 30 June 2017 when investors converted 95% of a €60 million (INR 432 crore) mature convertible bond into Heidelberg shares, reducing the company’s debt and costs of interest.

“We are very pleased to see the capital market’s confidence in the future of Heidelberg further strengthened. The increased share price and the conversion of the bond into equity are important indicators for us that we have been able to convince investors of our ‘Heidelberg goes digital’ strategy,” said Dirk Kaliebe, chief financial officer.

The 2016-17 financial year saw Heidelberg finish with an EBITDA of €179 million (INR 1,289 crore) and €2.5 billion in sales (INR 18,000 crore). Attendees at the event comprised close to 30% of the company’s share capital.

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