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Visual21 Nov 2025
Data center suppliers
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 to €985 million in H1 FY2025/26, with strong top- and bottom-line growth despite FX headwinds and tariffs.
Adjusted EBITDA doubled to €63 million, with margin improving to 6.4% from 3.4% year over year, driven by higher volumes, cost discipline, and efficiency measures.
Free cash flow improved to minus €64 million from minus €102 million year over year, turning positive in Q2.
Global diversification and a strong sales/service footprint, especially in China, contributed to resilience amid macroeconomic uncertainty.
Strategic global setup and cost-saving measures, including headcount reductions and the Zukunftsplan, drove improved profitability and resilience.
Financial highlights
H1 FY2025/26 order intake: €1,273m (+8% y/y); net sales: €985m (+8% y/y); adjusted EBITDA margin: 6.4% (up from 3.4% y/y).
Q2 FY2025/26 order intake: €571m (+1% y/y); net sales: €519m (+1% y/y); adjusted EBITDA margin: 7.8% (up 40 bps y/y).
EBIT: €26 million (up from €-6 million year-over-year); net result after taxes: €9.9 million (up from €-23.5 million y/y).
Book-to-bill ratio at 1.13; equity ratio at 24.4%.
Net financial position positive at €10 million; staff costs ratio down to 36%.
Outlook and guidance
Full-year sales forecast confirmed at €2,350 million, with adjusted EBITDA margin expected to improve to up to 8%.
Sales for the second half expected to be in line with last year, supported by a solid order backlog and ongoing efficiency measures.
Margin improvement expected to be supported by ongoing cost and efficiency measures.
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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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