Interim Results 9-months figures FY 10G Interim Results 9-months figures FY 10 February28. Januar 200809, 2010 7 Balance Sheet)LJXUHVLQ¼PLOOLRQV Assets 12/31/2008 03/31/2009 12/31/2009

Heidelberger Druckmaschinen AG

February 09, 2010

Interim Results 9-months figures FY 10Bernhard Schreier, CEO

Dirk Kaliebe, CFO

Andreas Trösch, Head of Investor Relations

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28. Januar 2008Interim Results 9-months figures FY 10 February 09, 2010

Highlights Q3 FY 10

2

Highest order intake since five consecutive quarters at € 609 million (+9% yoy)

Best quarterly sales at € 578 million in FY 10 so far

Improved EBIT at € -13 million including increased savings from restructuring program

All restructuring measures on the way. Less than expected program costs result in

positive Special items of € 30 million

Free cash flow again positive at € 3 million

Net debt decreased to € 678 million compared to 12/31/09 at € 729 million

Redemption of convertible bond on Feb 09, 2010 through in August 2009 secured

financing structure

New segmentation from April 1, 2010 strengthens strategic orientation towards

Equipment and Services

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3

Underlying conditions

4.13.9

1.7

-2.1

2006 2007 2008 2009

source: Global insight (WMM); calendar year

Change of global GDPFigures in percent

Although the print media industry appears to have halted its rapid downward slide,

production figures are still far below those during the period prior to the crisis

Incoming orders remained stable at a low level during H1 FY 10. Then, during the

third quarter, for the first time this financial year a slight upward trend set in

Global economy improved modestly

during the last quarter of CY 09

Nevertheless, global gross domestic

product declined by -2.1 percent in the

crisis year 2009

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0

200

400

600

800

Q3FY 08/09

Q4 Q1 Q2 Q3FY 09/10

4

Highest order intake since five consecutive quarters

626

978

Incoming Orders Order Backlog

€ million

650

616 617

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5

Incoming orders by regionChina and Germany with strong business development in Q3 FY10

Figures in € millions

Q3 FY 09 Q4 FY 09 Q1 FY 10 Q2 FY 10 Q3 FY 10 yoy

EMEA 232 223 234 203 254

Eastern Europe 77 30 46 56 70

North America 82 65 59 67 57

Latin America 43 18 26 36 36

Asia / Pacific 126 138 185 172 192

Group 560 474 550 534 609 +9%

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9m FY 09 9m FY 10 Q3 FY 10

Sales 2,211 1,591 -620 578

Total operating performance 2,438 1,546 586

Result of operating activities excl. special items -45 -141 -13

Special items 32 -19 -30

Result of operating activities incl. special items -77 -122 17

Financial result -76 -79 -30

Income before taxes -153 -201 -13

Net loss -119 -158 -39 -11

6

Profit & loss statement Achievements of the cost savings program become increasingly visible

Less than expected program costs result in positive Special items income

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7

Balance Sheet


Assets 12/31/2008 03/31/2009 12/31/2009 Liabilities 12/31/2008 03/31/2009 12/31/2009

Fixed assets 968 1,008 948 Shareholders' equity/minorities 945 796 607

Other assets 2,467 2,233 1,913 Provisions 827 973 901

- thereof inventories 1,211 1,034 924 - thereof provisions for pensions 128 154 209

- thereof receivables from CuFi 277 273 219 Other Liabilities 1,663 1,472 1,353

- thereof trade receivables 436 451 303 - thereof financial liabilities 822 760 815

Total assets 3,435 3,241 2,861 Total liabilities 3,435 3,241 2,861

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0

500

1.000

1.500

12/31/2008 03/31/2009 12/31/2009

Net Working Capital

thereof: Inventories

8

Development of Net Working Capital

€ million

1,307

1,212

999

1,211

924

NWC: The sum of inventories and trade receivables less trade payables as well as advance payments

1,034

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Cash Flow statement


9m FY 09 9m FY 10 Q3 FY 10

Cash flow -71 -134 18

Other operating changes -66 132 -16

- thereof: Inventories -214 94 38

- thereof: Trade receivables/ trade payables 115 104 -24

Inflow/Outflow of funds from operating activities -137 -2 1

Inflow/Outflow of funds from investment activity -140 -13 1

Free cash flow -277 -15 3

Prior year -4

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10

Lower net debt compared to prior year

*

* Redemption of convertible bond on Feb 09, 2010 through in August 2009 secured financing structure


12/31/2008 03/31/2009 12/31/2009

Convertible bond 302 304 310

Liabilities to banks and private placement 494 433 479

- Cash and cash equivalents -67 -80 -111

Net debt 729 657 678

Provision for pensions 128 154 209

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PostpressPress

Heidelberg ServicesHeidelberg Equipment

11

New segmentation strengthens strategic orientation

Valid from April 1st, 2010

Systemservice

Heidelberg Spare Parts

Saphira Consumables

Prinect Software

CtP

Business Consultancy

Remarketed Equipment

Press

Postpress Commercial

Postpress Packaging

Linoprint

Financing Partners

Export Credit Insurance

Heidelberg Print Finance

Financial ServicesService

New

se

gm

en

tatio

nO

ld s

eg

me

nta

tio

n

Financial Services

Equipment ServiceEquipment

Stephan Plenz Marcel Kießling Dirk Kaliebe

Bernhard Schreier (CEO)

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12

Outlook Financial Year 2009/2010

Following the developments so far in the current financial year, we expect the sales of

the Heidelberg Group in the financial year 2009/2010 to once again fall short of

financial year 2008/2009. Due to this low volume of sales, we continue to project a

result of operating activities excluding special items of between € -110 million and

€ -150 million. Heidelberg is in the process of implementing all cost reduction

measures. In addition, the agreements that have been established make it possible for

us to continue to flexibly adapt staff costs.

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February 09, 2010

Interim Results 9-months figures FY 10Bernhard Schreier, CEO

Dirk Kaliebe, CFO

Andreas Trösch, Head of Investor Relations

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0

200

400

600

800

1000

1200

1400

Q1 FY 03/04

Q2 Q3 Q4 Q1 FY 04/05

Q2 Q3 Q4 Q1 FY 05/06

Q2 Q3 Q4 Q1 FY 06/07

Q2 Q3 Q4 Q1 FY 07/08

Q2 Q3 Q4 Q1 FY 08/09

Q2 Q3 Q4 Q1 FY 09/10

Q2 Q3

€ million

810 880

900

960

Incoming Orders Order Backlog

910

1,025

1,240

1,3191,280

1,196

626

940

530

978

14

drupa 2004 drupa 2008

Highest order intake since five consecutive quarters

IPEX 2006

609

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Improvement program of €400 million almost completed by year end FY10

Less than expected program costs result in positive Special items income

Main lever

Target improvement

by FY 11

Improvement

Program

R&D expendituresReduce R&D expenditures by further improving

efficiency of R&D processes

Restructure

Postpress

Restructure Postpress by bundling of functions,

production relocation and site restructuring

Reduce structural

cost in central

functions

Reduce all structural cost

– operating expenses and personnel cost –

in central functions

Globalize and

optimize production &

purchasing

Use cost advantages of low cost countries, reduce FX

exposure and product cost

€70 million

€25 million

€105 million

€50 million

€400 millionSum of improvements

Reduce structural

cost in all markets

Restructuring of regions, expand growth

businesses, improving efficiency

Reduce structural

cost in Production

Improve process efficiency and logistics, reduce

administrative functions €65 million

€85 million

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16

Incoming orders by region 9m FY10Previous year including drupa trade fair

Positive order development in Asia Pacific in the current quarter (+52% yoy)

EMEA41% (48%)

Asia Pacific32% (21%)

Latin America6% (6%)

Eastern Europe10% (13%)

North America11% (12%)

Order intake

€ 1,693 million

(€ 2,432 million)

Previous year‘s 9m figures in brackets

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17

Divisional view Q3 FY 09 vs. Q3 FY 10

* before special items

Figures in € millions Sales EBIT

Q3 FY 09 Q3 FY 10 Q3 FY 09 Q3 FY 10

Press 646 517 4 -9

Postpress 97 56 -6 -6

Financial Services 7 5 2 2

Group 750 578 0 -13

*

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Development of Net Working Capital


12/31/2008 03/31/2009 12/31/2009

Inventories 1,211 1,034 924

+ Trade receivables 436 451 303

./.Trade payables 244 182 149

./.Payments on account 96 91 78

1,307 1,212 999

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19

Ongoing reduction of customer financing achieved despite

difficult economical and financing situation

277 273 253 244219

130 127126

115

111

0

100

200

300

400

500

12/31/2008 03/31/2009 06/30/2009 09/30/2009 12/31/2009

EUR million

Contingent Liabilities due to Customer Financing

Receivables from Customer Financing

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20

Financial Calendar 2009/2010

Event Date

Release of the Preliminary Figures FY10 May 11, 2010

Annual Analysts' and Investor's Conference June 15, 2010

Annual General Meeting July 29, 2010

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21

Investor Relations

Andreas Trösch

Head of Investor Relations

+ 49 (0) 6221 92-6020

+ 49 (0) 6221 92-5189(Fax)

[email protected]


Kurfuersten-Anlage 52-60

69115 Heidelberg

Germany

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22

Disclaimer

Any forward-looking statements contained in this presentation represent our

best judgment as to what will occur in the future.

The Company's actual results could differ materially from those presented and

will depend on a number of competitive and economic factors, some of

which will be outside the control of the Company.

Documents

Interim Results 9-months figures FY 10G Interim Results 9-months figures FY 10 February28. Januar 200809, 2010 7 Balance Sheet)LJXUHVLQ¼PLOOLRQV Assets 12/31/2008 03/31/2009 12/31/2009