BERLIN (dpa-AFX) - Heidelberger Druckmaschinen AG (HBGRF.PK), a German precision mechanical engineering company, said that it has entered the new financial year 2019/2020 with caution, as the global economic slowdown over recent months was reflected in a reduction in momentum in terms of orders for new machinery. The company anticipates results for the financial year 2019/2020 to be at previous year's level.
The company expects annual operating profitability to be at the level of the reporting year after adjustment for the anticipated effects of IFRS 16.
The company also projects the net result after taxes to remain stable - and presumably not significantly affected by IFRS 16 - at the level of the year under review. It also anticipates revenue on a par with the reporting year's level.
Looking forward,the company expects to see a stable performance in its core business and growth in digital subscription model, despite growing weakness in the global economy towards the end of the financial year.
The company said it aims to vigorously pursue its digital transformation.
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