HEIDELBERG has made full use of financial year 2025/2026 to significantly accelerate its transformation into a more broadly based technology company, despite a challenging environment. Based on its strong industry and systems expertise, the company has adopted an approach centred on dual-use technologies to systematically tap into additional markets in the areas of defense, security, energy, charging infrastructure, and industrial system solutions. One key aspect of this strategy is combining all relevant activities under the umbrella of HD Advanced Technologies GmbH. In this way, the company is making itself more future-proof and laying the foundations for long-term attractive and profitable growth.
Heidelberg is continuously expanding its portfolio in the growth area of digital printing. One particular driver of this development is the digital print ramp-up in the inkjet market. In parallel with this, the company is building on its position as a systems integrator and increasingly covering the entire packaging production value chain on an end-to-end basis. One key focus is on processes upstream and downstream of actual printing. For example, Heidelberg has substantially extended its strategic post-press packaging partnership with Masterwork, moving beyond the previous sales and distribution collaboration. At the same time, the company is pressing ahead with the technological development of its core business portfolio and systematically expanding its activities in growth regions such as Latin America, Vietnam, and India. In addition to this, focused strategic M&A measures are further strengthening the portfolio.
“The packaging market is a key growth engine for HEIDELBERG, because it is being driven by global trends such as population growth, urbanization, and the necessity for sustainable business practices. We are systematically extending our solutions to cover the entire manufacturing process in packaging production – from substrate selection, printing, postpress operations, and logistics all the way through to digital integration,” explains Dr. David Schmedding, Chief Technology & Sales Officer.
Effective efficiency measures such as completely relocating production of the Speedmaster CX104 to China and opening a new site in North Macedonia to reduce future manufacturing costs for individual product groups are helping to further optimise the cost structure. Overall, important progress has been made with key cost and efficiency targets. For example, the plan for the future at the company’s German sites is exceeding expectations and playing a key role in adjusting the personnel cost structure and strengthening competitiveness.
Heidleberg has held its own in a difficult environment, keeping its operational performance stable and even significantly improving its net result after taxes. The audited business figures for financial year 2025/2026 confirm the preliminary figures already published. Sales in the reporting period were slightly up on the previous year’s figure of €2,280m at €2,293m. Sales adjusted for exchange rate movements amounted to around €2,362m. Sales increased in EMEA and Americas regions. The positive trend for incoming orders in the final quarters of previous years continued. The figure of €619m for the fourth quarter was the highest during the reporting year and also higher than in the previous year. Over the year as a whole, however, the current geopolitical tensions had an adverse effect on incoming orders, which totaled €2,246m (previous year: €2,433m). In the year under review, incoming orders were also affected by negative exchange rate effects amounting to some €71m.
The overall adjusted EBITDA margin of 6.6% for financial year 2025/2026 was in line with the adjusted forecast and therefore below the previous year’s figure (7.1%).
Forecast planning for financial year 2026/2027 (April 1, 2026 to March 31, 2027) is based on the underlying economic and sector-specific conditions in the markets that are relevant to the company. Forecasts are also conditional on the global economy growing at least to the extent currently anticipated by economic research institutions. Based on these assumptions, the company forecasts stable Group sales matching the previous year’s level in financial year 2026/2027 and a noticeable improvement in the adjusted EBITDA margin compared with the previous year. It is assumed that there will be no substantial changes in relevant exchange rates for business activities.
