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Heidelberger Druckmaschinen (HDD) investor relations material
Heidelberger Druckmaschinen Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary12 Nov, 2025
Executive summary
Net sales increased by 8% year-over-year in H1 FY2025/26 to €985 million, with strong top- and bottom-line growth despite FX headwinds, U.S. tariffs, and macroeconomic uncertainty.
Adjusted EBITDA doubled to €63 million, margin improved to 6.4% from 3.4% year-over-year, driven by higher volumes, cost discipline, and efficiency measures.
Free cash flow improved to -€64 million from -€102 million year-over-year, turning positive in Q2.
Global diversification and local-for-local production, especially in China, contributed to resilience and profitability.
Net result after taxes broke even, a significant improvement from a €-35 million loss in the prior year.
Financial highlights
H1 FY2025/26 order intake: €1.1 billion to €1.273 billion, with strong performance in Italy and Mexico offsetting declines elsewhere.
Net sales: €985 million (up from €915 million year-over-year).
Adjusted EBITDA: €63 million (up from €31 million year-over-year); margin 6.4%.
Free cash flow: -€64 million (improved from -€102 million year-over-year).
Net financial position remained positive at €10 million, with strong liquidity and low credit facility utilization.
Outlook and guidance
Full-year guidance confirmed: net sales of €2,350 million and adjusted EBITDA margin up to 8%.
Margin improvement expected to be supported by ongoing cost and efficiency measures.
Order backlog and ongoing initiatives provide confidence in achieving targets.
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Next Heidelberger Druckmaschinen earnings date
Q3 20265 Feb, 2026
Next Heidelberger Druckmaschinen earnings date
Q3 20265 Feb, 2026
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Frequently asked questions
Heidelberger Druckmaschinen AG is a German company that specializes in manufacturing printing presses and providing solutions for the print media industry. The company’s core offerings include sheetfed offset printing machines, digital printing systems, and related software and services. Heidelberger Druckmaschinen serves a broad range of customers, from small print shops to large industrial printing companies, offering equipment for the production of packaging, labels, and commercial print products. In addition to its printing solutions, the company also provides digital and automation technologies to enhance printing efficiency and sustainability. The company is headquartered in Heidelberg, Germany, and its shares are listed on the Frankfurt Stock Exchange.
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