Oct. 24 (Bloomberg) -- Heidelberger Druckmaschinen AG lowered its full-year forecast following a sales decline in the second quarter after demand for its products weakened.
The company said it is “unlikely” it will reach its target of “a break-even pretax result” after it recorded preliminary sales of 636 million euros ($886 million) in the second quarter. Preliminary orders in the three months through June stood at 668 million euros, the German company said.
“Demand in the second half of the year” is “likely to be weaker than expected due to heightened economic uncertainties,” Heidelberger Druckmaschinen said in a statement today.
--Editor: John Simpson
To contact the reporter on this story: Niklas Magnusson in Hamburg at firstname.lastname@example.org
To contact the editor responsible for this story: Niklas Magnusson at email@example.com