2024-02-07 11:21:05 ET
Heidelberger Druckmaschinen Aktiengesellschaft (HBGRF)
Q3 2023 Earnings Conference Call
February 07, 2024, 08:00 AM ET
Company Participants
Ludwin Monz - CEO
Tania von der Goltz - CFO
Conference Call Participants
Florian Sager - Stifel
Tore Fangmann - Berenberg
Stefan Augustin - Marburg Research
Presentation
Operator
Good afternoon, ladies and gentlemen, and welcome to the Heidelberg Druckmaschinen AG Conference Call regarding the publication of the Q3 Results of the Fiscal Year 2023, '24. [Operator Instructions]
Now I hand the floor over to Ludwin Monz.
Ludwin Monz
Yes. Thank you and good afternoon, ladies and gentlemen. Welcome to Heidelberg's Conference Call on the Third Quarter Results of Fiscal Year 2023, 2024. On our first slide you see today’s agenda which includes a discussion of our nine-month financial performance but also an initial overview on our value creation program. However, I would like to start with a brief summary of our nine-month results and then my colleague and our CFO Tania von der Goltz will take you through the financials followed by the section on our value creation program. Then finally I will conclude with our outlook for the current fiscal year before we welcome your questions.
So let's start with a summary of our nine-month results. Despite a further weakening of macroeconomic factors in the overall economy, Heidelberg recorded a solid performance in the first nine months of the fiscal year demonstrating resilience in our financials.
Net sales remained on prior year's level when corrected for some currency headwinds. Our adjusted EBITDA margin has even improved ending up 80 basis points higher than prior year. This is particularly pleasing when you consider that we were faced with declining volumes and inflationary pressure. We anticipated this headwind at an early stage and mitigated it with price and efficiency measures which we introduced as part of our value enhancement program....
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Heidelberger Druckmaschinen Aktiengesellschaft (HBGRF) Q3 2023 Earnings Call Transcript