We started to follow Heidelberger Druck almost 15 years ago. At that time, the shares traded at around €20 but they fell into penny-stock territory briefly in 2019 and genuinely in 2020. During these years, the company accumulated net losses of more than €500m and the EPS numbers were positive in seven but negative in six of these years. Simultaneously, revenue collapsed from €3.8bn to €2.5bn and the workforce was cut from almost 20,000 to less than 12,000.
09 Apr 2020
Terminating coverage
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Heidelberger Druckmaschinen AG (HDD:WBO) | 0 0 -0.4% | Mkt Cap: 802.2m
- Published:
09 Apr 2020 -
Author:
David Chaucayanqui -
Pages:
2
We started to follow Heidelberger Druck almost 15 years ago. At that time, the shares traded at around €20 but they fell into penny-stock territory briefly in 2019 and genuinely in 2020. During these years, the company accumulated net losses of more than €500m and the EPS numbers were positive in seven but negative in six of these years. Simultaneously, revenue collapsed from €3.8bn to €2.5bn and the workforce was cut from almost 20,000 to less than 12,000.