Heidelberger Druckmaschinen AG (OTCPK:HBGRF)
$ 1.585 (0%) Market Cap: 489.28 Mil Enterprise Value: 517.85 Mil PE Ratio: 30.00 PB Ratio: 0.80 GF Score: 64/100

Q2 2026 Heidelberger Druckmaschinen AG Earnings Call Transcript

Nov 12, 2025 / 10:59 AM GMT
Release Date Price: $1.85

Key Points

Positve
  • Net sales improved by 8% year over year despite a significant FX headwind of €23 million.
  • EBITDA margin almost doubled from 3.4% to 6.4% with no special items in the first half.
  • The book-to-bill ratio improved from 1.08 to 1.13, indicating strong order intake relative to sales.
  • Strategic partnerships, such as with MK Masterwork, have proven successful, expanding their global reach.
  • Heidelberger Druckmaschinen AG (HBGRY) is expanding into new business fields like e-mobility and defense, showing diversification and growth potential.
Negative
  • Order intake declined by 4% year over year in the second quarter, reflecting strong prior-year performance and adverse currency effects.
  • Free cash flow remains negative, although it has improved compared to the previous year.
  • Incoming orders in the print and packaging equipment segment declined by 20%, reflecting strong prior-year performance.
  • The Americas region faced a 14% decline in order intake due to US tariff issues and negative currency effects.
  • The equity ratio decreased to 24.4% due to negative currency effects, impacting financial stability.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HDDG.DE - Heidelberger Druckmaschinen AG
Q2 2026 Heidelberger Druckmaschinen AG Earnings Call
Nov 12, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Yeah, good afternoon, ladies and gentlemen, and welcome to our half-year performance report.

In a highly dynamic business environment, our half-year results demonstrate a solid financial performance in line with expectations. While we see FX effects and tariffs with an impact year-to-date, we remain focused and disciplined with more than encouraging results in the books. Amid US tariffs, overall economic uncertainty, and adverse effects underlying all intake for the first half year.

Compared to an outstanding prior Druper year, nonetheless amounted to â¬1.1 billion. In line with the general mechanical engineering development in Germany, we have to acknowledge that all the intake was impacted by the
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