SHERIDAN, WYOMING - November 13, 2025 - Heidelberger Druckmaschinen AG (HEIDELBERG) has delivered a notably stronger first half of fiscal year 2025/2026, reporting higher sales, sharply improved profitability and continued strategic momentum across its printing, packaging and technology businesses. The results signal renewed financial resilience as the company advances its transformation strategy amid ongoing macroeconomic pressure.
Sales Growth Across Core Markets
During the first six months (April 1-September 30, 2025), HEIDELBERG generated €985 million in sales, an 8% increase over the previous year's period. Europe and Asia were standout regions, contributing significantly to the uplift. The second quarter alone delivered €519 million in revenue-up from €466 million in the first quarter-despite negative currency impacts totaling around €12 million.
The company expects the pace to continue, citing a healthy order situation and stronger second-half sales even as adverse exchange-rate effects persist.
Profitability Doubles as Cost Measures Take Hold
One of the most notable improvements came in profitability. Adjusted EBITDA doubled year-over-year to €63 million, producing a margin of 6.4%, compared with 3.4% previously. The gains were driven by strict cost discipline and the gradual impact of HEIDELBERG's long-term efficiency program, which is lowering production and working-cost levels across business units.
CEO Jürgen Otto emphasized the strategic progress: "HEIDELBERG is holding up better than the competition in a very challenging market environment and is once again demonstrating that our strategy is working and bearing fruit. The significant improvement in our profitability is particularly encouraging - a clear sign that our measures are proving effective."
Free cash flow improved substantially as well, rising from -€102 million in the previous year to -€63 million. Net results after taxes reached breakeven, compared to a -€35 million loss last year.
Order Intake Reflects Trade Show Momentum
Order intake after six months remained solid at €1.11 billion, slightly below last year's unusually strong drupa-driven period (€1.27 billion). The second quarter contributed €551 million in orders, affected partly by delayed U.S. orders stemming from complex government tariff rules.
However, the company's strong performance at Labelexpo Barcelona reinforced growth potential in label and digital printing-areas central to HEIDELBERG's strategic roadmap. Orders worth tens of millions were secured, validating rising demand for hybrid and digital packaging solutions.
Dr. David Schmedding, Chief Technology & Sales Officer, underlined the strategic traction: "Our strategy is working, with packaging and label printing driving our core business. At Labelexpo in Barcelona, our digital innovations for the growth market of label printing proved a particular draw for customers, and we struck numerous deals."
Segment Performance Shows Broad-Based Stabilization
- Print & Packaging Equipment: Sales rose to €463 million (from €395 million).
- Digital Solutions & Lifecycle: Sales remained stable at €493 million. A major Chinese customer placed a follow-up order for ten Jetfire 50 industrial inkjet systems, signaling market confidence.
- Technology Solutions: Sales held steady at €29 million, with the defense-sector partnership with VINCORION progressing as planned.
All segments recorded improved adjusted EBITDA, reflecting the company's execution discipline.
Strategic Direction: Hybrid Printing, Services, and New Technologies
HEIDELBERG continues to position itself as a systems integrator, combining hybrid printing technologies, industrial digital printing and a growing cloud-based ecosystem for software and service offerings. The company also sees new opportunities in high-precision plant engineering, automation, robotics and green technologies-areas aligned with higher-margin strategic growth.
In parallel, HEIDELBERG is expanding its charging-infrastructure business, including upcoming DC solutions, leveraging synergies with its technology portfolio.
Full-Year 2025/2026 Outlook Confirmed
Despite a challenging global environment, HEIDELBERG reaffirmed its full-year forecast. Assuming no deterioration of global economic conditions, the company expects:
- Sales of approximately €2.35 billion (vs. €2.28 billion last year)
- Adjusted EBITDA margin up to 8% (up from 7.1%)
Management cites a solid order backlog, efficiency measures and ongoing strategic execution as the foundation for achieving these targets.
Learn More
Additional financial information, press resources and investor materials are available at https://www.heidelberg.com.