Heidelberger Druckmaschinen
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Heidelberger Druckmaschinen (HDD) investor relations material

Heidelberger Druckmaschinen Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary5 Feb, 2026

Executive summary

  • Net sales grew 6.1% year-over-year to €1,602 million after nine months, despite FX headwinds and a challenging macro environment.

  • Adjusted EBITDA margin improved to 7.1%, up 140 basis points year-over-year, reflecting robust operational execution and cost discipline.

  • Net result after taxes turned positive at €17 million, up from a €42 million loss in the prior year.

  • Free cash flow improved to €-81 million after nine months, better than the prior year's €-97 million, though still negative.

  • Strategic focus remains on efficiency, cost discipline, operational execution, and expansion into new growth markets including defense and dual-use technologies.

Financial highlights

  • Order intake declined 10.7% year-over-year to €1,628 million, impacted by FX and macroeconomic pressures.

  • Adjusted EBITDA rose to €114 million after nine months, up from €85.9 million the previous year.

  • Net financial position improved to €-18 million from €-51 million at the end of the previous fiscal year.

  • Equity ratio increased to 26.2%, with equity at €563 million.

  • Operating cash flow improved by roughly 50% year-over-year, driven by stronger EBITDA and better cost structure.

Outlook and guidance

  • Guidance for FY 2025/26 reaffirmed: net sales expected around €2,350 million, up from €2,280 million last year.

  • Adjusted EBITDA margin anticipated at the lower end of the up-to-8% range due to FX and macroeconomic headwinds.

  • Outlook remains cautious, reflecting significant FX headwinds and a persistently weak macro and trade environment.

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Next Heidelberger Druckmaschinen earnings date

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Q4 202610 Jun, 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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