Heidelberger Druck’s H1 15/16 earnings were yet again a disappointment and clearly lagged our expectations. While order inflow was up by 13% to €1.32bn (+7% to €620m in Q2) and revenue increased by 17% to €1.16bn (+7% to €599m in Q2), Q2 operating profit fell by 50% to €15m and the pre-tax loss increased by 64% to €7m. Thanks to a very positive Q1, H1 EBIT was up by 126% to €43m while the pre-tax loss fell by 74% to €8m. We had expected a H1 EBIT
13 Nov 2015
Excessive pension discount rate increases boosted equity
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Excessive pension discount rate increases boosted equity
Heidelberger Druckmaschinen AG (HDD:WBO) | 0 0 -0.4% | Mkt Cap: 802.2m
- Published:
13 Nov 2015 -
Author:
Hans-Peter Wodniok -
Pages:
2
Heidelberger Druck’s H1 15/16 earnings were yet again a disappointment and clearly lagged our expectations. While order inflow was up by 13% to €1.32bn (+7% to €620m in Q2) and revenue increased by 17% to €1.16bn (+7% to €599m in Q2), Q2 operating profit fell by 50% to €15m and the pre-tax loss increased by 64% to €7m. Thanks to a very positive Q1, H1 EBIT was up by 126% to €43m while the pre-tax loss fell by 74% to €8m. We had expected a H1 EBIT