The Heidelberger Druck share came under pressure after a good start to Friday. Still slightly up shortly after the start of trading, the shares of the special machinery manufacturer were down two percent at 2.22 Euro shortly before midday. As a reminder, Heidelberg shares were still worth 2.41 Euro to investors on Wednesday. It was the reaction to an announcement from the operating business that initially went down well with investors.
Heidelberger Druck sells DOCUFY
Heidelberger Druckmaschinen AG has “sold the software provider DOCUFY GmbH, Bamberg, to the investment company Elvaston Capital Management as part of its continued focus on its cloud-based digitalization strategy in its core business,” the statement said. A purchase agreement was signed on Tuesday, it added. Heidelberger Druck had bundled its own peripheral software activities at DOCUFY in December 2019.
The sale of DOCUFY allows Heidelberg to further advance its positioning in cloud- and data-based software and the corresponding offering, it said. It was “concluded that DOCUFY’s planned strategy for the future can be supported in a more targeted manner by a new partner,” said Rainer Hundsdörfer, CEO of Heidelberger Druck. “We are placing our focus in the software area on expanding cloud-based applications and platforms for the printing industry.”
Forecast to be raised
Heidelberg intends to use the funds freed up by the sale to “further drive strategic future investments on the path to digital transformation.” Heidelberger Druck expects this transaction to generate an extraordinary income/disposal gain of more than 20 million euros and raised its forecast for the operating result for the full year 2021/22 accordingly. The company now expects an EBITDA margin in a range of 7-7.5 percent instead of 6-7 percent.