Net sales for the first quarter ended March 31, 2018, were $968 million, representing a 3.1% decrease as compared to 2017. Organic sales declined 5.1% due to ongoing print industry volume and pricing pressures after excluding acquisitions (2.0% impact), pass-through paper sales (-0.2% impact) and foreign exchange (0.2% impact), and is consistent with previous guidance. The Company incurred a net loss of $3.5 million, or $0.07 per share, for the three months ended March 31, 2018, which included a special $22 million non-cash employee stock ownership plan contribution as part of the benefit of tax reform. Net cash provided by operating activities was $2 million for the first quarter 2018, compared to $63 million in the first quarter of 2017, and Free Cash Flow decreased $62 million to a negative $22 million. These variances were primarily due to expected timing differences in 2018 versus 2017 for cash generated from working capital, which will be weighted more towards the fourth quarter. Click Read More below for additional information.
Heidelberger Druckmaschinen AG (Heidelberg) is becoming the leading industry platform for cooperation partners. The company is therefore in a position to rationally and efficiently expand its position as a global solution provider precisely in line with customers’ requirements and print shops’ value chains. With its one-of-a-kind sales and service network in combination with the Prinect business intelligence platform, Heidelberg makes the integration process as easy as possible for companies interested in cooperation. The process is further supported by the ongoing digitization in the industry, with the result that the portfolios of different companies can be smoothly integrated into one overall offering.
“We have already been providing our customers with an integrated offering covering all manufacturers for many years with the Saphira products. We want to expand this approach to our customers’ entire value chain. With our global sales and service network in combination with Prinect, we offer interested companies the ideal platform with which they can easily integrate their portfolio. In the future we want to increasingly offer our customers a combined value proposition comprising equipment, service, and consumables, something that no other provider is able to do, and in this way further enhance our competitiveness and that of our customers,” says Dr. Ulrich Hermann, Member of the Management Board responsible for Digital Business & Services at Heidelberg.
The company is underlining this approach with the sale cooperation agreement just signed between Heidelberg and Steinemann Technology AG, a global supplier of digital and conventional machines for print embellishment based in St. Gallen in Switzerland. As part of the agreement, Heidelberg will assume exclusive lead management responsibilities for Steinemann’s entire print embellishment portfolio in numerous markets like Germany, France, India, Japan, and the USA. Heidelberg sees Steinemann’s coating systems as a complement to its range of Saphira printing coatings as well as its offset and digital printing systems, for example the new Heidelberg Primefire 106, the first industrial digital printing system for the B1 format.
“The cooperation with Steinemann will strengthen our position along our customers’ value chain in terms of combining coatings with equipment solutions for digital and conventional printing as well as postpress,” says Hermann. “Our customers get the benefit of flexibility and a way of quickly meeting market demands for high-quality embellishment and customization.”
more at: https://www.heidelberg.com/global/en/company/press_1/press_release/press_release_details/press_release_73856.jsp