In its preliminary figures, the German manufacturer reported sales of around €2.28bn (£1.93bn), slightly down on last year €2.39bn, while adjusted EBITDA margin remained stable at 7.1% (2024: 7.2%), in line with forecasts. This is expected to rise to 8% during 2025/26.
The company said that it had successfully offset its slightly lower sales volume, rising wages and costs related to last year’s Drupa, with cost-cutting and efficiency measures.
Sales in Q1 were impacted by reticence to buy ahead of Drupa, but these steadily gained traction across the year, ending on a strong fourth quarter. Adjusted EBITDA during this quarter doubled to around 10% compared to last year and free cashflow for the year, not including any special items, was reported at €50m compared to €56m in 2024.
Heidelberg chief executive, Jürgen Otto, said: "We were able to achieve our financial year targets in a difficult economic environment and uncertain geopolitical conditions.
"With a clearly positive free cashflow for the second year in a row, we have confirmed our financially solid development. The measures initiated to reduce personnel costs will help us to further strengthen our profitability in the new financial year."
High incoming orders of €600m were attributed to the company’s global reach and diversified offering, with a particular increase in orders from the EMEA region. Meanwhile, orders were down across the Asia pacific region as buyers hold off ahead of this month’s China Print trade fair in Beijing, the company said.
Celebrating 175 years in business this year, Heidelberg achieved strong results in its core Sheetfed and Packaging Solutions segments, with packaging accounting for around 52% of order intake for the year as a whole.
Preliminary order intake across the segments was up 6% on 2024 at € 2.43bn (2024: €2.28bn, accounting for exchange rate fluctuation) with order intake for packaging alone up 7%.
"Our global presence in over 170 countries around the world is paying off, especially in economically uncertain times," said chief technology and sales officer, Dr David Schmedding.
"Thanks to the rising order situation, we expect a better start to the new financial year compared to the previous year. The China Print trade fair in May should provide further impetus for orders. We are also keeping a close eye on the development of customs duties worldwide. However, there is no comparable manufacturer in the US in our core business.
“In the global market environment, our competitors are likely to be affected by the US tariffs to the same extent, meaning that we will continue to maintain our leading position. Overall, we are therefore confident about the new financial year.”
Heidelberg employs 9,500 staff worldwide and has production facilities in several countries and regions, including China and the US.
The group’s share price dipped slightly to €1.24 on the news (52-week high: €1.37, low: €0.85).
Final financial figures for the year are expected to be published on 6 June.
