Heidelberger Druckmaschinen AG / Key word(s): Agreement/Forecast
27.02.2015 13:19
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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* Low-interest environment inflating balance-sheet Pension obligations
* New pension model provides balance-sheet relief
* Non-recurring increase in operating result (EBITDA) of around EUR50
million for current financial year
The management and employee representatives of Heidelberger Druckmaschinen
AG (Heidelberg) today reached agreement on reorganizing the company pension
scheme. In the future, the final salary pension will be replaced by a
contribution-based capital commitment.
The associated effect allows a balance-sheet relief of some EUR100 million.
This step is also a response to steadily falling interest rates due to the
continuing low-interest policy in the eurozone, which could lead to further
increases in provisions for pension obligations in the future. It has
already been necessary to significantly increase the reserves for
guaranteed pension payments in recent years and no reversal of this trend
is expected in the near future.
The basic principle behind the newly agreed contribution-based scheme has
applied to the company's management staff and new employees since 2006 and
will now be extended to all Heidelberg pension beneficiaries.
In addition to relieving the balance sheet, reorganizing the company
pension scheme will have a non-recurring positive effect on the operating
result for the current financial year 2014/2015. Also because of this,
EBITDA will be around EUR50 million higher than previously expected. The
pension scheme figures calculated at the end of the financial year on March
31, 2015 when preparing the annual accounts will clarify the precise impact
of the reorganization.
For additional details about the company and image material, please visit
the Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.
Contact:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: thomas.fichtl@heidelberg.com
Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-Mail: robin.karpp@heidelberg.com
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Information and Explaination of the Issuer to this News:
Heidelberg strengthens balance sheet by reorganizing company pension scheme
* Low-interest environment inflating balance-sheet pension obligations
* New pension model provides balance-sheet relief
* Non-recurring increase in operating result (EBITDA) of around EUR50
million for current financial year
The management and employee representatives of Heidelberger Druckmaschinen
AG (Heidelberg) today reached agreement on reorganizing the company pension
scheme. In the future, the final salary pension will be replaced by a
contribution-based capital commitment.
The associated effect allows a balance-sheet relief of some EUR100 million.
This step is also a response to steadily falling interest rates due to the
continuing low-interest policy in the eurozone, which could lead to further
increases in provisions for pension obligations in the future. It has
already been necessary to significantly increase the reserves for
guaranteed pension payments in recent years and no reversal of this trend
is expected in the near future.
The basic principle behind the newly agreed contribution-based scheme has
applied to the company's management staff and new employees since 2006 and
will now be extended to all Heidelberg pension beneficiaries.
'It was vital to adapt pension provision at Heidelberg to demographic
developments and low interest rates in order to make it sustainable. This
is an important step in strengthening the company's balance sheet and
continuing to provide the workforce with a company pension based on a new
model,' said CFO Dirk Kaliebe.
In addition to relieving the balance sheet, reorganizing the company
pension scheme will have a non-recurring positive effect on the operating
result for the current financial year 2014/2015. Also because of this,
EBITDA will be around EUR50 million higher than previously expected. The
pension scheme figures calculated at the end of the financial year on March
31, 2015 when preparing the annual accounts will clarify the precise impact
of the reorganization.
'Our efficiency program Focus, the realignment of our portfolio, and the
reorganization of our pension scheme provide three key building blocks for
the future of the company,' said CEO Gerold Linzbach.
For additional details about the company and image material, please visit
the Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.
Contact:
Heidelberger Druckmaschinen AG
Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: thomas.fichtl@heidelberg.com
Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-Mail: robin.karpp@heidelberg.com
â
27.02.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Heidelberger Druckmaschinen AG
Kurfürsten-Anlage 52-60
69115 Heidelberg
Germany
Phone: +49 (0)6222 82-67121
Fax: +49 (0)6222 82-67129
E-mail: investorrelations@heidelberg.com
Internet: www.heidelberg.com
ISIN: DE0007314007
WKN: 731400
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Heidelberger Druckmaschinen AG: Heidelberg strengthens balance sheet by reorganizing company pension scheme
| Source: EQS Group AG