Heidelberger Druckmaschinen AG (XSWX:HDD)

Q3 2026 Heidelberger Druckmaschinen AG Earnings Call Transcript

Feb 5, 2026 / 10:59 AM GMT

Release Date Price: CHF1.74

Transcript

Key Points

Positve

Heidelberger Druckmaschinen AG (HBGRF) delivered a solid performance with net sales increasing to €1.6 billion, reflecting resilient demand and solid execution.
The adjusted EBITDA margin improved significantly to 7.1%, up 140 basis points year over year, indicating higher production efficiency and a more favorable cost structure.
Net income increased significantly by €59 million to a positive €17 million, showcasing improved profitability.
The company extended its syndicated credit line, increasing the volume by €66 million to €436 million, providing a stable financing basis and more leeway for business expansion.
Heidelberger Druckmaschinen AG (HBGRF) is strategically expanding into new business fields such as defense, security, energy, and industrial system solutions, positioning itself for future growth.

Negative

Order intake reached €1.6 billion, which was below the prior year level, reflecting a challenging external environment and weak macro momentum.
Free cash flow remains negative after 9 months, mainly driven by working capital timing effects and non-recurring cash outs related to M&A activities.
Currency effects continue to weigh on reported growth, impacting the overall financial performance.
The print and packaging equipment segment saw an 18% decline in incoming orders, indicating challenges in this area.
The company faces significant currency headwinds and macroeconomic uncertainty, particularly around US tariff discussions, which could impact future performance.

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

HDDG.DE - Heidelberger Druckmaschinen AG
Q3 2026 Heidelberger Druckmaschinen AG Earnings Call
Feb 05, 2026 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Yeah, good afternoon, ladies and gentlemen.

Let me start with a brief snapshot of our performance after 9 months.

Overall, Heidelberg delivered a solid and resilient performance despite a challenging external environment marked by weak macro momentum and continued Fix headwinds. Order intake reached â¬1.6 billion and was below the prior year level as expected. Prior year had benefited from a strong marker environment.

Importantly, book to bill remains above 1.0, supporting revenue visibility going forward.

We are seeing a slightly positive trend.

We had a very good water intake from the US, especially in October and November.

Customers continue to rely on our

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