The press manufacturer reported a growth in orders to €651m (£573m) in the period of 1 July to 30 September, up 22% from €534m in the same quarter last year.

Heidelberg said that while the figure is lower sequentially, orders were in line with the company's planning.

Preliminary sales during the quarter also grew compared to last year, up 21% to €633m from €499m. The company's operating result came in at between -€5m and -€10m, thanks to restructuring measures, which represents an improvement on the previous year's quarter of -€65m.

Bernhard Schreier, chief executive of Heidelberg, said: "The preliminary figures show that our organisational and strategic realignment is taking effect.

He said: "In the medium term, expected growth within the strategically important areas packaging printing, services, and consumables as well as continuing favourable developments in the emerging countries will additionally support Heidelberg's success."

Heidelberg said that it continues to expect a "moderate" growth in sales and will strive for a break-even operating result in the current financial year.

However, despite an improvement in the quarter's sales and incoming orders, the German manufacturer said it expected a significant net loss for the full year.