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1. Company Snapshot

1.a. Company Description

Heidelberger Druckmaschinen Aktiengesellschaft, together with its subsidiaries, manufactures, sells, and deals in printing press and other print media industry products in Europe, the Middle East, Africa, Asia/Pacific, Eastern Europe, North America, and South America.The company operates through Print Solutions, Packaging Solutions, and Technology Solutions segments.It offers printing machines, including digital, offset, narrow web, screen, and inline-flexo printing, as well as remarketed equipment; and finishing equipment comprising cutting, die-cutting and embossing, folding, inspection, folding carton gluing, hot foil stamping, and shingled folding.


The company also provides technical services, such as installation and relocation, maintenance and cleaning, remote support, repair, and overhauling services, as well as service parts; and performance services consisting of performance evaluation, color management, training, upgrades and retrofits, monitoring, output optimization, print shop optimization, and investment planning.In addition, it offers financial services; and consumables, such as plates, films, chemicals, proofing, glues, digital and analog engraving, blankets, inks, dampening rollers, coatings, varnishes, blankets, rollers, pressroom chemicals, cutting knives, banderoles, ink duct foils, wash-up cloths and spray powders, dispersion glues, binding glues, stitching wires and sealing threads, and folding carton gluing supplies.Further, the company provides software solutions.


The company was formerly known as Schnellpressenfabrik AG Heidelberg and changed its name to Heidelberger Druckmaschinen Aktiengesellschaft in 1967.Heidelberger Druckmaschinen Aktiengesellschaft was founded in 1850 and is based in Heidelberg, Germany.

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1.b. Last Insights on HDD

Heidelberger Druckmaschinen's recent performance was driven by strong order growth and improved margins, as reported in its Q3 2025 earnings release. The company's revenue remained flat at €594.0m, but its strategic growth initiatives and expansion into new markets are expected to drive future growth. Notably, the company's improved margins suggest effective cost management, which should support profitability.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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We Think Heidelberger Druckmaschinen's (ETR:HDD) Robust Earnings Are Conservative

Nov -20

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An Intrinsic Calculation For Heidelberger Druckmaschinen Aktiengesellschaft (ETR:HDD) Suggests It's 50% Undervalued

Oct -29

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Heidelberger Druckmaschinen Aktiengesellschaft's (ETR:HDD) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?

Sep -19

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.65%)

6. Segments

Print Solutions

Expected Growth: 2.5%

Heidelberger Druckmaschinen's Print Solutions segment growth of 2.5% is driven by increasing demand for digital printing, expansion in emerging markets, and strategic partnerships. Additionally, the company's focus on innovative products and services, such as digital printing presses and workflow solutions, contributes to its growth.

Packaging Solutions

Expected Growth: 2.8%

Heidelberger Druckmaschinen's Packaging Solutions segment growth of 2.8% is driven by increasing demand for sustainable and customized packaging, growth in e-commerce, and expansion into emerging markets. Additionally, the company's focus on digitalization, innovative products, and strategic partnerships contribute to its growth momentum.

Technology Solutions

Expected Growth: 3.2%

Heidelberger Druckmaschinen's Technology Solutions segment growth of 3.2% is driven by increasing demand for digital printing and packaging solutions, expansion into emerging markets, and strategic partnerships. Additionally, the company's focus on innovation, such as its digital press portfolio and Prinect workflow solutions, is contributing to its growth momentum.

7. Detailed Products

Sheetfed Offset Presses

High-performance printing presses for commercial, packaging, and label printing

Digital Printing Solutions

Digital printing presses for short-run, variable data, and specialty printing

Prepress and Workflow Solutions

Software and hardware solutions for prepress, workflow, and print production management

Postpress and Finishing Solutions

Finishing equipment and solutions for folding, cutting, binding, and packaging

Service and Consulting

Comprehensive service and consulting offerings for printing industry

Consumables and Spare Parts

Original consumables and spare parts for Heidelberg equipment

8. Heidelberger Druckmaschinen Aktiengesellschaft's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Heidelberger Druckmaschinen Aktiengesellschaft is moderate, as there are alternative printing technologies available, but they are not yet widely adopted.

Bargaining Power Of Customers

The bargaining power of customers is high, as they have many options for printing services and can negotiate prices.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low, as Heidelberger Druckmaschinen Aktiengesellschaft is a large company with significant purchasing power.

Threat Of New Entrants

The threat of new entrants is low, as the printing industry has high barriers to entry, including significant capital requirements and technical expertise.

Intensity Of Rivalry

The intensity of rivalry in the printing industry is high, with many established players competing for market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.76%
Debt Cost 14.37%
Equity Weight 84.24%
Equity Cost 14.37%
WACC 14.37%
Leverage 18.71%

11. Quality Control: Heidelberger Druckmaschinen Aktiengesellschaft passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Value: 2.6

Growth: 8.4

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Heidelberger Druckmaschinen

A-Score: 4.6/10

Value: 8.2

Growth: 5.0

Quality: 4.3

Yield: 0.0

Momentum: 9.5

Volatility: 0.7

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Quality: 2.8

Yield: 5.0

Momentum: 4.0

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SFC Energy

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Value: 4.0

Growth: 8.2

Quality: 5.6

Yield: 0.0

Momentum: 2.5

Volatility: 1.0

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Absolent Air Care

A-Score: 3.3/10

Value: 2.6

Growth: 6.6

Quality: 5.6

Yield: 1.2

Momentum: 2.0

Volatility: 2.0

1-Year Total Return ->

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Feintool

A-Score: 2.3/10

Value: 6.2

Growth: 1.1

Quality: 1.9

Yield: 1.2

Momentum: 0.0

Volatility: 3.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.95$

Current Price

1.95$

Potential

-0.00%

Expected Cash-Flows