Heidelberger Druckmaschinen FY Sales Up

(RTTNews) - Heidelberger Druckmaschinen AG (HBGRF.PK), a German precision mechanical engineering company, Tuesday said it achieved its operating targets in financial year 2019.

Group sales were reported at 2.49 billion euros, about 3 percent higher than the previous year. The company's core business developed positively, and the digital business model Subscription also grew as expected with around 30 contracts signed.

Absolute EBITDA rose to 180 million euros from 172 million euros last year.

"As planned, we have ended financial year 2018/19 with moderately improved sales and results. Our core business exhibited positive development and the company's digital transformation is making good progress," said Heidelberg CEO Rainer Hundsdorfer.