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HEIDELBERGER DRUCKMASCHINEN AKTIENGESELLSCHAFT

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Heidelberger Druckmaschinen AG: Purchase agreement regarding sale of real property in Brentford (UK) signed

06/15/2021 | 02:25pm EDT

DGAP-Ad-hoc: Heidelberger Druckmaschinen AG / Key word(s): Disposal/Strategic Company Decision
Heidelberger Druckmaschinen AG: Purchase agreement regarding sale of real property in Brentford (UK) signed

15-Jun-2021 / 20:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Following a competitive auction process, Heidelberger Druckmaschinen AG (Heidelberg), through its subsidiary Heidelberg Graphic Equipment Ltd., signed a purchase agreement today with real estate developer Fairview New Homes Ltd. (Fairview) regarding the sale of its property in Brentford (UK). The sold property is located between London City and Heathrow Airport and currently serves as Heidelberg's UK customer and sales headquarter. The new UK customers headquarter is scheduled to move to West London prior to the end of 2021.

Heidelberg expects the transaction, with an agreed purchase price in the mid-double-digit million-euro range, to take effect in the last quarter of 2021. Based on current book values of the sold property, Heidelberg expects to realize an extraordinary gain of approximately EUR 25 million (before transaction expenses and taxes).

Contact:
Heidelberger Druckmaschinen AG

Corporate Public Relations
Thomas Fichtl
Phone: +49 (0)6222 82-67123
Fax: +49 (0)6222 82-67129
E-mail: thomas.fichtl@heidelberg.com

Investor Relations
Robin Karpp
Phone: +49 (0)6222 82-67120
Fax: +49 (0)6222 82-99 67120
E-Mail: robin.karpp@heidelberg.com

Important note:
This press release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future development and results may deviate substantially from these forward-looking statements due to various factors, such as changes in the macroeconomic situation, in the exchange rates, in the interest rates, and in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft gives no warranty and does not assume liability for any damages in case the future development and the projected results do not correspond with the forward-looking statements contained in this press release.
 

Information and Explanation of the Issuer to this News:

Heidelberg optimizes customer approach in the United Kingdom

New sales site planned in West London
Customer and logistics headquarters centrally located
Previous property sold to real estate developer Fairview New Homes Ltd.
Heidelberg to further strengthen its liquidity position for future investments

The sales and service organization of Heidelberger Druckmaschinen AG (Heidelberg) in the UK is continuing to optimize its customer approach in this important print market. Having already established its new logistics center in Leighton Buzzard in February this year, from where customers can be supplied with spare parts and consumables more quickly and flexibly, the company is now also planning to relocate its customer headquarters in West London. This will make it more convenient and efficient for all customers to reach Heidelberg's sales and service headquarter, back-office functions and also the showroom in the future. The move is scheduled to take place before the end of the 2021 calendar year.

The property in Brentford - located between London City and Heathrow Airport - was sold to the real estate developer Fairview New Homes Ltd. (Fairview). A corresponding purchase agreement was signed today. Fairview is a British developer of high-quality residential units and houses in London, founded in 1961. Heidelberg expects the transaction, with an agreed purchase price in the mid-double-digit million-euro range, to take effect in the last quarter of 2021.

'The relocation of the sales and service headquarters and the warehouse will enable us to serve our customers in the UK even more efficiently in the future,' said Rainer Hundsdörfer, Heidelberg's CEO. 'In addition, the disposal of the vacated property in Brentford is an important step in the ongoing adjustment of our structures. By using space more efficiently, we will save considerable costs at Heidelberg in the future. We will use the funds thus freed up to strengthen our liquidity and continue to drive forward strategic investments for the future on the path of our digital transformation.'

Heidelberg has around 160 employees serving around 1,400 customers in the UK and Ireland. The market is one of Heidelberg's top 10 markets.

Image material and additional information about the company are available in the Investor Relations and Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.

Heidelberg IR also on Twitter:
Link to the IR Twitter channel: https://twitter.com/Heidelberg_IR
On Twitter under the name: @Heidelberg_IR

Further information:
Corporate Communications

Thomas Fichtl
Phone: +49 6222 82-67123
Fax: +49 6222 82-67129
E-mail: Thomas.Fichtl@heidelberg.com

Investor Relations
Robin Karpp
Phone: +49 6222 82-67120
Fax: +49 6222 82-99 67120
E-mail: robin.karpp@heidelberg.com

Important note:

This press release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future development and results may deviate substantially from these forward-looking statements due to various factors, such as changes in the macro-economic situation, in the exchange rates, in the interest rates, and in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft gives no warranty and does not assume liability for any damages in case the future development and the projected results do not correspond with the forward-looking statements contained in this press release.


15-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Heidelberger Druckmaschinen AG
Kurfürsten-Anlage 52-60
69115 Heidelberg
Germany
Phone: +49 (0)6222 82-67121
Fax: +49 (0)6222 82-67129
E-mail: investorrelations@heidelberg.com
Internet: www.heidelberg.com
ISIN: DE0007314007
WKN: 731400
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1208242

 
End of Announcement DGAP News Service

1208242  15-Jun-2021 CET/CEST

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Sales 2022 2 039 M 2 397 M 2 397 M
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Number of Analysts 4
Last Close Price 2,04 €
Average target price 1,80 €
Spread / Average Target -11,5%
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Rainer Hundsdörfer Chief Executive & Human Resources Officer
Marcus A. Wassenberg Chief Financial Officer
Martin Sonnenschein Chairman-Supervisory Board
Mirko Geiger Member-Supervisory Board
Beate Schmitt Member-Supervisory Board
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