The German manufacturer's positive net result of Rs 65 crore came as overall sales for the quarter compared to the previous year fell slightly from Rs 4,358 crore to Rs 4,264 crore.

Heidelberg’s order backlog of Rs 5,567 crore also soared above last year's by 19 percent due to its lucrative Drupa presence. The press manufacturer credited Drupa sales for saving its first quarter revenue shortly after the tradeshow ended. PrintWeek India Company of the Year 2016 Parksons Packaging booked two Heidelberg CX 102 multicolour presses during Drupa 2016.

Despite the dip from last year, Heidelberg CFO Dirk Kaliebe says the results increase from last quarter is a direct upshot of the group’s long-term ‘strategic realignment’. “The clear improvement in the result during the second quarter shows that our realignment is bearing fruit,” said Kaliebe.

“In view of the solid order situation, we anticipate that the second half of the year will bring a considerable improvement in sales and the result compared to the first half of the year. The targets for the year as a whole therefore continue to apply.”

Heidelberg said the enduring effect of Drupa and the possibility of strategic acquisitions are set to push the group’s FY2017 results even further.

“The portfolio expansion in rapidly developing markets, possible acquisitions and the Drupa industry trade show will substantially affect sales performance in the financial year 2016/2017 and the years ahead,” stated Heidelberg.

“The investment priorities in the areas of digitalisation, digital printing and services are expected to contribute to an average sales growth of up to 4 percent per year.”

Heidelberg CEO Dr Gerold Linzbach, credited with the strategy that is bringing back profitability to the group. Industry outsider Rainer Hundsdörfe will be the new CEO.