HEIDELBERG (dpa-AFX) - In the past financial year 2022/23, machine manufacturer Heidelberger Druck posted even stronger growth than recently expected. In terms of sales and earnings, the management team led by CEO Ludwin Monz was able to present slightly better preliminary results than recently forecast. The share, which is listed on the SDax, rose sharply on Thursday.

At the top of the index, the stock rose 13.2 percent to 1.94 euros in the morning. This was the highest level since February. Analyst Peter Rothenaicher of Baader Bank rated the net profit in particular as "massively" above market expectations. However, he qualified that there were uncertainties surrounding the further course of business. Among other things, the sale of printing presses is subject to economic fluctuations. Heideldruck is also facing significant increases in personnel and material costs in the new financial year.

In the twelve months to the end of March, the Group's sales climbed from just under 2.2 billion Euro in the previous year to around 2.4 billion Euro, as the company, which is listed on the small-cap index SDax, surprisingly announced in Heidelberg the previous evening. Sales were thus slightly above the target of around 2.3 billion euros. The margin based on earnings before interest, taxes, depreciation and amortization (Ebitda) was also above the forecast of more than 8 percent at around 8.5 percent, it said. In the previous year, it had been 7.3 percent.

At the bottom line, profits rose from 33 million euros to around 90 million euros, significantly more than had recently been expected by the market. The reasons for the sharp rise in profits were, on the one hand, the improved operating profit and, on the other, non-recurring relief in the financial and tax result. The Group will publish detailed figures for the past fiscal year on June 14./zb/men/mis/stk