HEIDELBERG reported a positive start to fiscal year 2025/26, with first-quarter sales rising to €466 million (up from €403 million year-on-year), driven especially by strong performance in Europe and Asia. Adjusted EBITDA improved significantly to €20 million, with a 4.4% margin (compared to –€9 million and –2.3% in Q1 of the previous year), thanks to higher volumes, better production utilization, and cost-cutting measures.
“Thanks to our global market position and an improved cost basis, we have made a good start to the new financial year,” said Jürgen Otto, CEO of HEIDELBERG. “Strategic measures in our core business, together with new options in the Technology segment and our move into the defense sector, give us cause to feel very confident about the prospects for the year as a whole.” he added.
While free cash flow remained negative at –€68 million, it showed notable improvement versus the –€103 million of the prior year. Net loss was reduced to –€11 million (from –€42 million), and incoming orders totaling €559 million provided a solid business foundation, also supported by HEIDELBERG’s strong presence at China Print.
As of April 1, 2025, HEIDELBERG has reorganized its structure into three segments:
- Print & Packaging Equipment (offset/flexo, pre/postpress),
- Digital Solutions & Lifecycle (software, services, consumables, digital printing),
- HEIDELBERG Technology (e-mobility and industrial solutions beyond core business).
In Q1, Print & Packaging sales rose 42% to €211 million, while the other segments remained stable. Adjusted EBITDA improved across all areas. Packaging remains a key growth driver, reaffirming HEIDELBERG’s strategy to expand as a system integrator, as demonstrated by the acquisition of Polar Mohr brand and technologies.
HEIDELBERG also announced its entry into the defense sector through a system partnership with VINCORION, aimed at producing power control and distribution systems, strengthening its diversification strategy.
The company has confirmed its full-year outlook, forecasting FY 2025/26 sales around €2.35 billion (vs €2.28 billion in 2024/25), with an adjusted EBITDA margin of up to 8% (previous year: 7.1%).
“Packaging printing remained a growth driver for our business in the first quarter,” said David Schmedding, Chief Technology & Sales Officer at HEIDELBERG. “This development reaffirms our growth strategy – the continuous and targeted expansion of our portfolio as a systems integrator for this key market segment. Our acquisition of Polar Mohr brand rights and technology to boost the productivity of value chains in packaging and label production is a further example of this approach.” he explained.
