Heidelberg is expanding its packaging and digital printing activities while progressing its shift towards a broader technology base, with developments in its core print and packaging business positioned as a key driver.
The company is extending its role as a systems integrator in packaging printing, with a focus on covering the full production value chain, including processes before and after printing. This includes an expanded post-press packaging partnership with Chinese manufacturer Masterwork, moving beyond sales and distribution.
Heidelberg is also increasing its presence in digital printing, particularly in inkjet, and strengthening its portfolio through measures such as acquiring the brand rights of Polar. The company continues to expand in growth regions including Latin America, Vietnam and India.
“The packaging market is a key growth engine for Heidelberg, because it is being driven by global trends such as population growth, urbanisation, and the necessity for sustainable business practices,” says Dr David Schmedding, chief technology and sales officer at Heidelberg. “We are systematically extending our solutions to cover the entire manufacturing process in packaging production from substrate selection, printing, post-press operations, and logistics all the way through to digital integration.”
Alongside its core business, Heidelberg is developing additional activities based on what it describes as a dual-use technology approach, targeting sectors including defence, security, energy, charging infrastructure and industrial systems. These activities are being combined under HD Advanced Technologies.
The company is building its defence business through partnerships, including Onberg, a joint venture with Ondas focused on autonomous anti-drone systems. Plans include using the Brandenburg site for sales and distribution, followed by industrialisation and series production. A Memorandum of Understanding between Onberg and a Ukrainian drone business is expected to be announced at the ILA Berlin Air Show.
“In recent months, we have significantly accelerated the strategic development of Heidelberg and further raised our profile as a technology-oriented high-tech business,” says Jürgen Otto, CEO of Heidelberg. “With HD Advanced Technologies and our focus on dual-use technologies, we are leveraging this expertise and capacity to create additional, attractive areas of business alongside our core business in printing and packaging.”
Efficiency measures remain a focus, including relocating production of the Speedmaster CX104 to China and opening a new site in North Macedonia to reduce manufacturing costs. The company says progress at its German sites is contributing to changes in its personnel cost structure and competitiveness.
For the financial year 2025/2026, sales increased slightly to €2,293 million, compared with €2,280 million the previous year, while the net result after taxes rose to €15 million from €5 million. The adjusted EBITDA margin was 6.6 per cent, down from 7.1 per cent.
The company says the lower margin reflects investment in new activities outside its core business, as well as geopolitical factors including the war in the Middle East, supply bottlenecks, tariffs, exchange rate effects and changes in product mix.
Incoming orders totalled €2,246 million, down from €2,433 million the previous year, with geopolitical tensions and exchange rate effects cited as factors. The fourth quarter saw incoming orders of €619 million, the highest in the reporting year.
Looking ahead to 2026/2027, Heidelberg expects sales to remain at the previous year’s level and forecasts an improvement in the adjusted EBITDA margin, assuming stable economic conditions and no significant exchange rate changes.