Heidelberger Druckmaschinen Ag · XETR:HDD
Heidelberger Druckmaschinen — FY2024/25 Earnings Presentation
21 slides from Heidelberger Druckmaschinen's earnings presentation, Jun 5, 2025
Slide 1: Heidelberger Druckmaschinen AG – FY 2024/25
Tradition ∙ Innovation ∙ Change Heidelberger Druckmaschinen AG – FY 2024/25 Dr. David Schmedding, CTO/CSO | Volker Herdin, Head of Finance | June, 5 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 and outlook
Highlights and outlook Segments and regions Financial review Outlook 3 © Heidelberger Druckmaschinen AG
Slide 4: Leveraging the full strength of our global footprint
Leveraging the full strength of our global footprint. Orders up by strong 6% year-over-year despite a sluggish overall economy. Orders up on prev. year, book-to-bill >1 provides sound base for FY25/26 Key takeaways: in million € 1.07 HEIDELBERG outperformed the Book-to-bill ratio broader German engi
Slide 5: Strong operating improvements
Strong operating improvements. Impressive turnaround in FY 2025 secured a resilient overall performance. 771 594 Net sales 513 (in m€) 403 Adjusted 9.2 9.9 7.8 EBITDA-Margin1 (in % of sales) -2.3 148 Free Cashflow 2 4 (in m€) -103 Q1 Q2 Q3 Q4 FY 2024/25 FY 2024/25 FY 2024/25 FY 2024/25 © Heidelberge
Slide 6: Cost basis reduced & efficiency increased
Cost basis reduced & efficiency increased. HEIDELBERG delivered on profitability targets, despite y/y lower sales volume. Guidance 2,395 2,280 Net sales (in m€) On prior Adjusted year’s level 7.2 EBITDA-Margin1 7.1 (in % of sales) Ambition Strongly Free Cashflow 56 51 positive (in m€) FY 2023/24 FY
Slide 7: China Print
China Print. Important trade fair generated strong number of orders. © Heidelberger Druckmaschinen AG 7
Slide 8: Guidance FY 2025/26 – highest profitability since 2008
Guidance FY 2025/26 – highest profitability since 2008. HEIDELBERG will report solid progress, both strategically and margin-wise. VDMA expects sales decline of 2% for the in the sector +3.1% Net sales Moderate sales growth, also (in m€) 2,280 2,350 influenced by strategic initiatives Positive impac
Slide 9: Segments and regions
Highlights and outlook Segments and regions Financial review Outlook 9 © Heidelberger Druckmaschinen AG
Slide 10: Segment split (FY 2024/25)
Segment split (FY 2024/25). Packaging hits new all-time high in Orders received, confirming strategic direction. in million € ACT FY 2023/24 ACT FY 2024/25 Orders received Net sales Adj. EBITDA Key takeaways: +6.7% Order intake grew by 7% marking new all-time -5.2% +0.3pps high – strong performance
Slide 11: Regions (FY 2024/25)
Regions (FY 2024/25). HEIDELBERG relies on it´s global setup that generates resilient demand. in million € ACT FY 2023/24 ACT FY 2024/25 change y/y Key takeaways: Orders 1,131 Orders received: Strong performance driven by drupa, renewed +10.3% received 1,247 fx-adj. 9.7% investment incentives in Ita
Slide 12: Financial review
Highlights and outlook Segments and regions Financial review Outlook 12 © Heidelberger Druckmaschinen AG
Slide 13: EBITDA bridge (FY 2024/25)
EBITDA bridge (FY 2024/25). Adj. EBITDA safeguarded by efficiency gains and strict cost control. in million € Key takeaways: FY 2023/24 reported EBITDA 168 Non-recurring items: Net impact of € 4m recorded in relation to legal Adjustments (non-recurring items) 4 disputes in FY 2023/24. FY 2023/24 172
Slide 14: Operating Cashflow (FY 2024/25)
Operating Cashflow (FY 2024/25) Successful working capital reduction and resilient earnings. Adj. EBITDA to Operating Cashflow FY 2024/25 Change y/y Comments on y/y changes: in million € EBITDA 162 -10 Driven by strong Q4 performance and a stable 7.1% (adjusted figures) adjusted EBITDA margin. Tax &
Slide 15: Investment Cashflow & Free Cashflow (FY 2024/25)
Investment Cashflow & Free Cashflow (FY 2024/25). FCF positive on an operating basis despite slightly higher investments. Change y/y Operating to Free Cashflow FY 2024/25 excl. non-rec. items Comments on y/y changes: in million € Operating 113 23 Cashflow Investments -88 -23 Investments increase mai
Slide 16: Balance Sheet (FY 2024/25)
Balance Sheet (FY 2024/25). Equity ratio to 25% slightly improved, net financial position at +91m€! Equity (equity ratio in %) Net financial position1 in million € 24.9% 25.1% in million € Higher pension discount Positive FCF of € 51m 23.1% 546 rate improved equity contributing to net cash 527 predo
Slide 17: Key takeaways
Key takeaways. HEIDELBERG showed a strong finish in Q4 and made decisive steps to improve profitability further. Initiated personnel cost reduction and financial discipline are a sound basis for profitable growth. Strong prospects ahead & clear strategy set: Margin upswing expected based on first st
Slide 18: P&L
P&L. Figures in € millions FY FY Change in Q4 Q4 Change in 2023/2024 2024/2025 m€ 2023/2024 2024/2025 m€ Net sales 2,395.2 2,280.2 -115.0 709.6 771.4 61.8 Change in inventories/other own work capitalized -59.4 39.5 98.8 -143.4 -124.4 19.0 Total operating performance 2,335.8 2,319.7 -16.2 566.2 647.0
Slide 19: Reported to adjusted EBITDA
Reported to adjusted EBITDA. Figures in € millions TOTAL TOTAL Change in Q4 Q4 Change in 2024/2025 2023/2024 % 2024/2025 2023/2024 % Reported EBITDA 136.9 167.8 -18.4% 79.7 32.9 142.3% Reported EBITDA in % of Net sales 6.0% 7.0% - 1.0pps 10.3% 4.6% 5.7pps Legal Dispute 0.0 4.2 - 0.0 4.2 - Provisions
Slide 20: Segments: Quarterly overview
Segments: Quarterly overview. Figures in € millions y/y Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL Change 2024/2025 2024/2025 2024/2025 2024/2025 2024/2025 2023/2024 FY 2023/24 FY 2023/24 FY 2023/24 2023/2024 in m€ Orders received 701.3 571.4 549.9 610.8 2,433.3 590.9 593.5 507.7 595.8 2,288.0 145.4 Print
Slide 21: Balance Sheet
Balance Sheet. Assets Equity and Liabilities Assets – Figures in € millions 31.3.2024 31.3.2025 Equity and liabilities – Figures in € millions 31.3.2024 31.3.2025 Non-current assets Equity Intangible assets 217.4 218.1 Issued capital 779.1 779.1 Property, plant and equipment 664.9 675.3 Capital rese
Heidelberger Druckmaschinen — FY2024/25 Earnings Presentation on 6ix