Heidelberger Druckmaschinen Ag · XETR:HDD
Heidelberger Druckmaschinen — Q3 FY2024/25 Earnings Presentation
25 slides from Heidelberger Druckmaschinen's earnings presentation, Feb 12, 2025
Slide 1: Q3 FY 2024/25 Analyst and Investor conference
Tradition ∙ Innovation ∙ Change Heidelberger Druckmaschinen AG – Q3 FY 2024/25 Analyst and Investor conference Jürgen Otto, CEO | Tania von der Goltz, CFO | Dr. David Schmedding, CSO | February, 12th 2025
Slide 2: Disclaimer
Disclaimer This release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future devel
Slide 3: Highlights, Segments and regions, Financial review, Outlook
Highlights Segments and regions Financial review Outlook 3 © Heidelberger Druckmaschinen AG
Slide 4: 9m FY 2024/25 – outperforming the overall sector
9m FY 2024/25 – outperforming the overall sector. Orders up by strong 7.7% after 9m, with Q3 8.3% ahead of previous year. Orders up on prev. year with book-to-bill >1 indicating Q4 sales growth Key takeaways: in million € 1,21 HEIDELBERG´s solid performance Book-to-bill ratio stands in contrast to t
Slide 5: 9m FY 2024/25 – delivered on guided earnings improvement
9m FY 2024/25 – delivered on guided earnings improvement. EBITDA-margin strongly increased to 9.2% in Q3, with sales on prior years level. Adj. EBITDA margin recorded a strong upswing throughout this FY Key takeaways: Adj. EBITDA-margin in percent HEIDELBERG delivered on the Q1 Q2 Q3 promised earnin
Slide 6: Promised and delivered
Promised and delivered. Profitability strengthened, margin outlook improved & growth strategy presented. 25m€ savings EBITDA-margin improved to 9.2% in Q3 from cost control measures Based on cost discipline and margin control until Q3 FY 25 Accumulative savings of ~100m€1 EBITDA-margin will increase
Slide 7: Technology segment acts as an innovation incubator
Technology segment acts as an innovation incubator. Adapting in a fast-moving environment secures long-term success. Investors & partners Growth-oriented ventures Amperfied Service provider & Own products & IP Hydrolyzer partner (e. g. defense) … Know-how +300m€1 & sales growth Incubator capacities
Slide 8: Highlights, Segments and regions, Financial review, Outlook
Highlights Segments and regions Financial review Outlook 8 © Heidelberger Druckmaschinen AG
Slide 9: Segment split (9m FY2024/25)
Segment split (9m FY2024/25). Packaging Solutions continued to show a strong order trend. in million € 9m FY 2023/24 9m FY 2024/25 Orders received Net sales Adj. EBITDA Key takeaways: +11.3% Strong growth in orders, particularly from Asia- -11.4% -1.2 pps Pacific and Americas. Order backlog remains
Slide 10: Regions (9m FY2024/25)
Regions (9m FY2024/25). Solid order growth across all regions. in million € 9m FY 2023/24 9m FY 2024/25 change y/y Key takeaways: Orders 855 Orders received: Increase mainly due to drupa trade fair in Q1 and +8.7% received 929 fx-adj. 8.2% better performance in Q3 yoy (mainly Eastern Europe and Ital
Slide 11: Highlights, Segments and regions, Financial review, Outlook
Highlights Segments and regions Financial review Outlook 11 © Heidelberger Druckmaschinen AG
Slide 12: Key performance indicators (Q3 FY2024/25)
Key performance indicators (Q3 FY2024/25). Adj. EBITDA and FCF with significant year-over-year improvement. Key takeaways: in million € Q3 FY 2023/24 Q3 FY 2024/25 change y/y 508 Adjusted for FX-effects, order intake was 549m€. Prior year was // Orders received +8.3% affected by a weak pre-drupa inv
Slide 13: EBITDA bridge (9m FY2024/25)
EBITDA bridge (9m FY2024/25). Cost control measures were paying off, lower sales temporarily affected adj EBITDA. in million € Key takeaways: 9m FY 2023/24 reported EBITDA 135 No adjustments in 9m FY 2023/24. Adjustments (non-recurring items) 0 9m FY 2023/24 135 adjusted EBITDA Δ Sales volume & capa
Slide 14: Operating Cashflow (9m FY2024/25) – single quarter Q3 positive
Operating Cashflow (9m FY2024/25) – single quarter Q3 positive. Positive NWC development compensates for strong seasonality in sales & EBITDA. Adj. EBITDA to Operating Cashflow 9m FY 2024/25 Change y/y Comments on y/y changes: in million € EBITDA 86 -49 Decline in adj. EBITDA is attributed to y/y lo
Slide 15: Free Cashflow (9m FY2024/25) – single quarter Q3 positive
Free Cashflow (9m FY2024/25) – single quarter Q3 positive. Impacted by anticipated seasonality, investments higher following low PY basis. Change y/y Operating to Free Cashflow 9m FY 2024/25 excl. non-rec. items Comments on y/y changes: in million € Operating -66 -28 Cashflow -17 Investments y/y inc
Slide 16: Balance Sheet (9m FY2024/25)
Balance Sheet (9m FY2024/25). Solid metrics, net financial debt remains on a low and resilient level. Equity (equity ratio in %) Net financial position1 24,9% 21,2% in million € Net loss causing a decline in million € Negative FCF and non- 527 in equity after 9m. 77 cash increase in lease 469 liabil
Slide 17: Key takeaways financials
Key takeaways financials. HEIDELBERG showed a solid market performance in Q3, with orders up by 8.3% Delivered as promised: Strong year-over-year improvement in adj. EBITDA in Q3 – positive FCF in the third quarter. 9m-figures in line with expected development, providing a sound basis for achieving
Slide 18: Highlights, Segments and regions, Financial review, Outlook
Highlights Segments and regions Financial review Outlook 18 © Heidelberger Druckmaschinen AG
Slide 19: Guidance FY 2024/25
Guidance FY 2024/25. Profitability strongly improved, well on track to deliver on guidance. Net Sales and adj. EBITDA will improve quarter by quarter Key takeaways: Q1 Q2 Q3 Q4 Net Sales 709 594 594 Guidance confirmed: Net Sales 544 548 512 ∑ ~ prior years expected to be at prior years level 403 lev
Slide 20: Outlook to FY 2025/26
Outlook to FY 2025/26. Guidance will reflect HEIDELBERGs commitment to profitable growth. up to ~8% adj. EBITDA margin ambition for FY 2025/26 Save-the-date: Join our capital market day on June 2nd © Heidelberger Druckmaschinen AG 20
Slide 21: Key takeaways
Key takeaways. HEIDELBERG showed a strong Q3 and made decisive steps to improve profitability further. Initiated personnel cost reduction and financial discipline are a sound basis for profitable growth. Guidance confirmed: HEIDELBERG shows resilience and clear performance improvements throughout th
Slide 22: P&L
P&L. Figures in € millions 9m 9m Change in Q3 Q3 Change in 2023/2024 2024/2025 m€ 2023/2024 2024/2025 m€ Net sales 1.685,6 1.508,8 -176,8 593,7 593,8 0,1 Change in inventories/other own work capitalized 84,1 163,9 79,8 -2,7 63,3 66,0 Total operating performance 1.769,7 1.672,7 -97,0 591,0 657,1 66,1
Slide 23: Reported to adjusted EBITDA
Reported to adjusted EBITDA. Figures in € millions TOTAL TOTAL Change in Q3 Q3 Change in 2024/2025 2023/2024 % 2024/2025 2023/2024 % Reported EBITDA 57,2 134,9 -57,6% 26,1 34,0 -23,2% Reported EBITDA in % of Net sales 3,8% 8,0% - 4.2pps 4,4% 5,7% -1.3pps Provisions personal costs 28,7 0,0 - 28,7 0,0
Slide 24: Segments: Quarterly overview
Segments: Quarterly overview. Figures in € millions 2024/25 2023/24 y/y TOTAL TOTAL Change Q1 Q2 Q3 2024/2025 Q1 Q2 Q3 2023/2024 in m€ Orders received 701,3 571,4 549,9 1.822,5 590,9 593,5 507,7 1.692,2 130,4 Print Solutions 335,5 258,7 264,2 858,4 277,2 286,1 258,7 822,1 36,3 Packaging Solutions 36
Slide 25: Balance Sheet
Balance Sheet. Assets Equity and Liabilities Assets – Figures in € millions 31.3.2024 31.12.2024 Equity and liabilities – Figures in € millions 31.3.2024 31.12.2024 Non-current assets Equity Intangible assets 217,4 217,4 Issued capital 779,1 779,1 Property, plant and equipment 664,9 662,6 Capital re
Heidelberger Druckmaschinen — Q3 FY2024/25 Earnings Presentation on 6ix