After nine months of financial year 2025/26 (April 1 to December 31, 2025), developments at HEIDELBERG are in line with expectations. The company has achieved a considerable improvement in its profitability and is also resolutely pressing ahead with its strategic transformation, moving into new areas of business that are enjoying strong growth.
Notwithstanding the challenging environment, sales after three quarters climbed to €1,602m – some 6.1% higher than the previous year’s figure of €1,509m – despite negative exchange rate effects amounting to around €44m compared with the equivalent period of the previous year. Business in Europe and with packaging and label printing presses saw particularly positive development during this period. At €617m, the sales figure for the third quarter was around 4% higher than in the equivalent quarter of the previous year and continued the quarter-on-quarter sales growth so far in the current financial year.
The adjusted operating result (EBITDA) after nine months increased significantly to €114m (€86m) and the adjusted EBITDA margin improved considerably to 7.1% (5.7%). Implementation of the personnel and efficiency measures envisaged in the plan for the future is having a clear impact. For example, production costs and total working costs improved compared with the corresponding period of the previous year. The personnel cost ratio was lower than in the first nine months of the previous year, falling to 36%. The company is expecting personnel costs as a whole to remain below the previous year’s figure for the rest of financial year 2025/26.
Incoming orders after nine months totalled €1,628m (€1,823m). Allowing for the fact that drupa resulted in the previous year being strong, they were therefore in line with expectations. During the reporting period, the company saw a significant impact from negative exchange rate effects amounting to some €46m. Incoming orders in the third quarter stood at €517m (€550m). The development of incoming orders in the third quarter was particularly positive in the Americas Region, where they were up 17% on the equivalent quarter of the previous year.
