Heidelberger Druckmaschinen : Druck flags full-year net loss, cuts 2019/2020 forecast

Heidelberger Druckmaschinen said on Monday it expects to post a full-year net loss and cut its forecast for 2019/20 revenue and operating profit due to weak business in Europe, particularly Germany and Britain.

In a statement published ahead of earnings, the company said persistently difficult market conditions in Europe had led to a decline in sales and operating profit in the third quarter.

Third-quarter sales in the current fiscal year were lower than expected at 567 million euros, and full-year sales are now expected to be slightly below the previous year's level of around 2.49 billion euros ($2.76 billion), the company said.

Earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be in a range of 5.5% to 6.0% of sales, down from a previously expected 6.5% to 7%.

The company will publish quarterly earnings on February 11.

(Reporting by Edward Taylor; Editing by Jan Harvey)