Heidelberger Druckmaschinen Ag · XETR:HDD
Heidelberger Druckmaschinen — Investor Day (June 2025)
55 slides from Heidelberger Druckmaschinen's investor day presentation, Jun 2, 2025
Slide 1: Capital Markets Day 2025
HEIDELBERG Capital Markets Day 2025 Tradition meets innovation – since 1850
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: Agenda for today
Expanding horizons. Capital Markets Day 2025. Celebrating 175y anniversary Strengthening resilience AGENDA FOR Our turnaround story TODAY Business segment strategy Q&A and wrap-up © Heidelberger Druckmaschinen AG 3
Slide 4: 175 years of forward-moving technologies
175 years of forward-moving technologies Welcome to the Home of Print. VIDEO © Heidelberger Druckmaschinen AG
Slide 5: Broad and strong expertise. Our new management board.
Broad and strong expertise. Our new management board. Jürgen Otto Dr. David Schmedding Chief Executive & Financial Officer1 Chief Technology & Sales Officer Responsible for strategy, Responsible for sales, service, production, purchasing, research & development and personnel, and segment segments Pr
Slide 6: Strengthening resilience
Expanding horizons. Capital Markets Day 2025. STRENGTHENING RESILIENCE What we did achieve so far © Heidelberger Druckmaschinen AG 6
Slide 7: Margin was under pressure from rising wages and lower sales
Margin was under pressure from rising wages and lower sales. HEIDELBERG had a weak start to the last fiscal year… Net Sales (in m€) 403 Adjusted EBITDA-Margin (in % of sales) -2,3 Free Cashflow (in m€) -103 Q1 FY 2024/25 © Heidelberger Druckmaschinen AG 7
Slide 8: Strong operating improvements in subsequent quarters
Strong operating improvements in subsequent quarters. Impressive turnaround in FY 2024/25 secured a resilient overall performance. New management board took office 774 Net Sales 591 (in m€) 512 403 Adjusted 9,2 10 7,8 EBITDA-Margin (in % of sales) -2,3 148 Free Cashflow 2 4 (in m€) -103 Q1 Q2 Q3 Q4
Slide 9: Cost basis reduced & efficiency increased
Cost basis reduced & efficiency increased. HEIDELBERG delivered on profitability targets, despite y/y lower sales volume. Guidance Net Sales 2,395 2,280 (in m€) On prior Adjusted 2.395,0 2.280,0 year´s level 7,2 7,1 EBITDA-Margin (in % of sales) Ambition Strongly Free Cashflow 56 51 positive (in m€)
Slide 10: Comparison to FY 2019 – financial health regained
Comparison to FY 2019 – financial health regained. Net financial debt turned into net cash, backed by improved FCF conversion. 91 Net financial position1 (in m€) -250 51 Free Cashflow (in m€) -93 1Cash on balance less financial debt FY 2019 FY 2025 © Heidelberger Druckmaschinen AG 10
Slide 11: Our turnaround story
Expanding horizons. Capital Markets Day 2025. OUR TURNAROUND STORY © Heidelberger Druckmaschinen AG 11
Slide 12: Internal snapshot. Strong assets – ready to be unlocked
Internal snapshot. Strong assets – ready to be unlocked, key challenges being addressed. OUR STRENGTHS & CHANCES WHAT WE NEED TO ADDRESS • Market leadership in resilient markets, best workflow • High level of personnel costs • Strong brand &, excellent technology base • Moderate profitability • Glob
Slide 13: Position of strength
Position of strength. HEIDELBERG will further capitalize on its scale and leading market position. Net Sales in m€ ~900m€ Lifecycle 2.280 1.2741 6732 1463 HEIDELBERG König & Bauer Komori Ryobi 1FY 2024, König & Bauer IR 2FY 2024/25, Komori IR (FX-rate based on spot-rate 13/05) © Heidelberger Druckma
Slide 14: One-stop-shop
One-stop-shop. HEIDELBERG delivers a global & digital end-to-end ecosystem for its customers. Prinect Software Data lake Largest global Sales & Service network Performance data Consumables Consulting Service & Parts Prinect Software Pre-press Press Postpress Commercial Sheetfed Digital © Heidelberge
Slide 15: Strong basis for growth & attractive for partners
Strong basis for growth & attractive for partners. HEIDELBERG is rich of know-how and capabilities. 2,400 active Performance- R&D competencies Software patents electronics (~700 developers) Know-How Foundry High precision manufacturing & finishing Assembly Global Service Innovation based on own IP ©
Slide 16: Strategic initiatives will yield more than 300m€ in sales
Strategic initiatives will yield more than 300m€ in sales. Packaging, Lifecycle business models and Technology & Service commercialization. Packaging Paperization & Innovation Utilize our unique global network Portfolio development Increase recurring & digital to lead paper-based sales, improve mark
Slide 17: Personnel costs remain too high
Personnel costs remain to high – continuous wage increases in the past. Earlier restructuring efforts had no sustainable impact on personnel costs. Personnel costs remained stable and too high despite past layoffs Key takeaways 11500 HC • Profitability impacted by cumulative Personnel costs 9500 HC
Slide 18: Tough negotiations were successful
For a sustainable bottom-line impact – tough negotiations were successful. We will address both: Headcount reduction & limiting wage increases! Past FUTURE Key takeaways Headcount 11500 • German headcount to be further 9500 <9000 reduced; 450 already agreed with in m€ unions. 800 inflation 790 • inf
Slide 19: Improving profitability & safeguarding resilience
Improving profitability & safeguarding resilience. Stepping up: Annual savings up to 80m€ per year will tangibly improve EBITDA. ~80 Key takeaways Expected savings in m€ ~75 • Expected profitability gains to date focused on main site in Wiesloch- Walldorf. ~35 • Program is now expanding to other Ger
Slide 20: Utilizing a global set-up
Utilizing a global set-up. HEIDELBERG reshapes it´s value chain – streamlining in Germany. Global sourcing & Streamline German production approach production network Relocation of the entire CX 104 production line envisaged Outsourcing of non- Leverage economics differentiating parts of Shanghai pla
Slide 21: New segment structure
New segment structure. Clear governance framework will unveil our growth & value potentials. HEIDELBERG Print & Packaging Equipment Digital Solutions & Lifecycle Technology 52% 46% Sales ~1,2bn€ Sales ~1,1bn€ ~60m€ ~10% ~7% ~-15% Adj. EBITDA-margin Adj. EBITDA-margin NEW! Very-large Sheetfed Wide-We
Slide 22: Print & Packaging Equipment
Shaping our future. Capital Markets Day 2025. Print & Packaging Equipment © Heidelberger Druckmaschinen AG 22
Slide 23: Our successful transformation journey
Our successful transformation journey. Growing Packaging business makes up for more than half of our annual sales yet. From a Print-Media company… …to a leading packaging system integrator © Heidelberger Druckmaschinen AG 23
Slide 24: What's the markets opportunity in packaging?
What´s the markets opportunity in packaging? Paperization of the economy offers a unique chance for HEIDELBERG. Additional growth from plastic to paper substitution +3-5% CAGR1 Fibre-based packaging © Heidelberger Druckmaschinen AG 1McKinsey – "Sustainability in packaging: Inside the minds of US con
Slide 25: Paper-based packaging. Consumer attitudes
Paper-based packaging. Consumers are increasingly mindful of their environmental impact. are looking for products in 79% sustainable packaging1. of Gen Z shoppers are willing to pay more for 73% sustainable products2. agree that paperboard packaging is part of the 68% environmental solution3. percei
Slide 26: Paper-based packaging. Retailers & brands adapt
Paper-based packaging. Retailers & brands adapt to meet consumer & regulatory sustainability demands. Consumers Retailers/Brands Legislators © Heidelberger Druckmaschinen AG Supplier industry 26 (e. g. packaging converters & OEMs)
Slide 27: Global megatrends are fueling growth in packaging markets
Global megatrends are fueling growth in packaging markets. HEIDELBERG is particularly strong in the fastest growing region APAC. Share of global CAGR ´24 - ´30 Structural growth drivers packaging market Sustainability Population Ageing Rising efforts growth population wealth EMEA 29% +1.9% HEIDELBER
Slide 28: China Print confirmed our strong position
China Print confirmed our strong position. Important trade fair generated strong number of orders. © Heidelberger Druckmaschinen AG
Slide 29: Global megatrends are fueling growth in packaging markets
Global megatrends are fueling growth in packaging markets. You are in touch with us, every day. Packaging applications & key end- Share of global HEIDELBERGs Key print & packaging CAGR ´24 - ´30 markets packaging market position technologies Folding Sheetfed-Offset Carton¹ Bilder 21% +2.2% #1 Flexog
Slide 30: Packaging printing – outperforming the market
Packaging printing – outperforming the market. A strong and continuing story of growth & resilience for HEIDELBERG. Order intake segment Packaging Solutions in m€ +6,7% CAGR 1.192 1.272 1.080 1.156 920 FY 2020/21 FY 2021/22 FY 2022/23 FY 2023/24 FY 2024/25 © Heidelberger Druckmaschinen AG 30
Slide 31: The new Cartonmaster CX 145
The new Cartonmaster CX 145. Smart approach to close portfolio gap in the packaging workflow. © Heidelberger Druckmaschinen AG 31
Slide 32: That's our focus
That´s our focus. Efficient end-to-end workflows drive customer success – not a single technology. Cloud-based Prinect Workflow Run length/ capacity Flexo SF1 VLF Pre-press Postpress Entry SF1 B1-B3 Sheetfed not relevant here Folding Corrugated Flexible Market Entry Carton Liner/Board Packaging © He
Slide 33: Taking the lead
Taking the lead. HEIDELBERG strives to be the driving force of packaging integration. Retail/Brands Trade/Recycling Paper (Bio)Chemistry Converting/Filling Partnership with © Heidelberger Druckmaschinen AG 33
Slide 34: Our Packaging vision in summary
Our Packaging vision in summary. HEIDELBERG strives to be the engine of an integrated packaging value chain. © Heidelberger Druckmaschinen AG 34 34
Slide 35: Q&A
Shaping our future. Capital Markets Day 2025. Q&A © Heidelberger Druckmaschinen AG | Titel der Präsentation ("Einfügen > Kopf- und Fußzeile") 35 35
Slide 36: Digital Solutions & Lifecycle
Shaping our future. Capital Markets Day 2025. Digital Solutions & Lifecycle © Heidelberger Druckmaschinen AG 36
Slide 37: What's the markets opportunity? Digital printing
What´s the markets opportunity? Digital printing will grow with a CAGR of 8.5% to 7.5 bn€ in 2029. Global market size digital printing1 7,5 5,0 2024 2029 © Heidelberger Druckmaschinen AG 1HEIDELBERG estimate 37
Slide 38: How do we address this? HEIDELBERG Jetfire!
How do we address this? HEIDELBERG Jetfire! HEIDELBERG & Canon joined forces to scale digital inkjet printing solutions. HEIDELBERG has the largest Sales & Service network and the biggest client base in the industry Connectivity & Software Integration Digital Printing Technology Global Sales & Servi
Slide 39: A strategic leap forward
A strategic leap forward. HEIDELBERG now offers the full range, reducing complexity for its customers. Webfed NEW NEW Web-to-Sheet NEW NEW Sheetfed © Heidelberger Druckmaschinen AG 39
Slide 40: For a plus of efficiency and digitization
For a plus of efficiency and digitization. Prinect is our AI-based workflow software that drives customer performance. Data Services. Access to Further apps. Performance analytics boost customer output Via the HEIDELBERG Customer Portal Prinect Touch Free Always up to date and secure. Remote Service
Slide 41: Unique in our industry and beyond
Unique in our industry and beyond. HEIDELBERGs global sales & service network is a highly valuable asset. Global presence is key for our lifecycle business Share of recurring 39% sales in aftersales 36% 20% ~900m€ ~5% Software ~50% Service ~45% Consumables FY 2019/20 FY 2023/24 FY 2024/25 © Heidelbe
Slide 42: Digital Printing, Service & new industries
Digital Printing, Service & new industries. Based on a clear plan: We will grow our resilient lifecycle business. TODAY 2030 Share of recurring 39% Digital sales in aftersales 36% Printing Service 20% ~900m€ growth ~5% Software New ~50% industries Service ~45% Consumables FY 2019/20 FY 2023/24 FY 20
Slide 43: HEIDELBERG Service
HEIDELBERG Service. We‘ve got your back – Service you can rely on. The world's largest > 90% service service network in 170 contract coverage for countries with 2,500 new machines service experts Efficient troubleshooting, digital remote services, big Core competencies & Flexible service data analys
Slide 44: Targeted increase of sales per customer
HEIDELBERG Service. Targeted increase of sales per customer while expanding coverage. Service Coverage HEIDELBERG Percentage of installed equipment in operation 2030 serviced by HEIDELBERG Share of wallet (in %) HEIDELBERG TODAY Share of wallet (in %) Amount existing customers spend for service on H
Slide 45: Clear action plan. Data, data, data…
Clear action plan. Data-driven proactive services, product portfolio & innovative pricing models. Data, data, data… Proactive & data driven sales Portfolio Pricing • Extended focus on proactive, data- driven service sales • Tailor portfolio to customer • Customer-specific offers through data • Dynam
Slide 46: HEIDELBERG Technology
Expanding horizons. Capital Markets Day 2025. HEIDELBERG Technology © Heidelberger Druckmaschinen AG 46
Slide 47: Realigning our approach for HEIDELBERG Technology
Realigning our approach for HEIDELBERG Technology. Integrated expertise – delivering more than the sum of individual parts. From sporadic activities… …to strategically market comprehensive competencies. Software Assembly services R&D Transactional contracts Production Increase factory Uilization Ser
Slide 48: HEIDELBERG Technology. Focus on electrification
HEIDELBERG Technology. Focus on electrification: Deep expertise in industrialization and internationalization. Empower your electrification. eMobility Automation Agricultural Solutions Solutions Solutions Military Off-Highway Green Energy Solutions Solutions Cloud-based solutions for connectivity, F
Slide 49: HEIDELBERG Technology: Charging Infrastructure
Expanding horizons. Capital Markets Day 2025. HEIDELBERG Technology Charging Infrastructure 49
Slide 50: Back to growth, profit & resilience
Back to growth, profit & resilience. We fundamentally changed our business model. From hardware company… …to a service & infrastructure provider © Heidelberger Druckmaschinen AG 50
Slide 51: Focus on recurring infrastructure services
Focus on recurring infrastructure services. HEIDELBERG Amperfied differentiates with a comprehensive solutions portfolio. New accounts acquired: PAST NEW Hardware Sales Solutions provider with focus on recurring contracts Regional focus AC AC DC Product portfolio AC Automotive Wallbox Wallbox AC cha
Slide 52: First DC-offering available from 2026
First DC-offering available from 2026. “Dynamic DC” is the next step in implementing our solutions provider vision. © Heidelberger Druckmaschinen AG 52
Slide 53: Addressing a key customer pain point
Addressing a key customer pain point. HEIDELBERG will play out its service strength for industrial applications. Current CPO customer pain-points HEIDELBERG turn out as growth inhibitors Equipment & Lifecycle Technology Solutions Unreliable service providers Heidelberger Druckmaschinen Amperfied Oth
Slide 54: Our opportunity
Our opportunity. Market for eServices will strongly grow based on expanding DC infrastructure. 295 452 617 789 m€ 888 Market for eServices in Europe (in m€) 500 550 400 Number of DC charging 300 points Europe 200 (in k units) © Heidelberger Druckmaschinen AG 2026 2027 2028 2029 2030 54
Slide 55: Q&A
Shaping our future. Capital Markets Day 2025. Q&A © Heidelberger Druckmaschinen AG | Titel der Präsentation ("Einfügen > Kopf- und Fußzeile") 55
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