海德堡印刷机械2027财年第一季度财报电话会议纪要

发布时间：2026-08-19 一、AI总结内容 一、核心要点 1. 2027财年第一季度核心业务进展：核心业务收购M.N.罗兰、POLAR，完成首台VNS机器销售，建立北马其顿新生产基地；第二增长板块Hydervac拓展无人机防御，与Skyson签谅解备忘录；与Fenergy建立储能领域战略合作伙伴关系，打开能源储能新市场。 2. 第一季度财务表现：订单5.37亿欧元，同比降4%，主因意大利激励政策到期；营收4.04亿欧元，同比降13%，因包装设备需求疲软及意大利市场受补贴退出影响；调整后EBITDA利润率0.2%，同比降420个基点；人力优化后员工数降至9019人；自由现金流负7700万欧元，同比降900万欧元。 3. 区域表现：亚太订单2.77亿欧元，同比增17%，中国市场推动贡献最大；美洲订单基本持平，美国表现强劲；EMEA订单2.41亿欧元，同比降16%，意大利补贴退出影响显著。 二、投资线索与增长驱动 1. 战略转型：核心业务强化系统集成，拓展数字化与生命周期业务；Hydervac布局防御、能源、电动汽车领域，瞄准高增长市场；Fenergy合作聚焦欧洲钠离子电池储能市场，提升技术主权。 2. 新产能布局：北马其顿新生产基地投产，POLAR产能转移至此，优化成本结构。 3. 区域扩张：深耕中国、美国市场，越南、印度、巴西、墨西哥等新兴市场推进本地化布局。三、风险与关注 1. 核心业务受意大利激励政策退出影响，短期市场环境仍具挑战性。2. 防御与储能等新业务尚处早期阶段，投资回报需时间兑现。3. 自由现金流承压，下半年增长及利润率提升需依赖订单复苏与成本控制。 二、音频原文（转写） Printing expertise across the entire value chain, ranging from procurement and production to installation, service and maintenance. A key differentiator is the combination of synergies, cell chemistry with Heidelberg's specific printing technology, creating opportunities for scalable andcost efficient battery production in Europe. The partnership also strengthens European technological sovereignty by reducing dependence on non-European supply chains. Overall, we see attractive long-term growth potential in this market anda strong strategic fit with hydrotax industrialcapabilities. Another important milestone was the launch of OnBird's Life Demonstration hub in Brandenburg, providing customers and stakeholders with a dedicated environment to experience Integrated counter UA. add solutions in real worldscenarios The facility showcases. the interoperability. of various defense technologies and 第一。 The moment the speaker will be back. In a few. Iguess. 嗯。Okay。So you know. Thank you. きんさん。嗯。 Go ahead. 哼。多少钱？okay 嗯。So particularly emphasisis based on the protection of critical infrastructure a market that continues to gain strategicimportance across you know Demand for effectivecounter UAS solutions is increasing as securityrequirements continue to rise. recent incidentsfor example, Leipzig airport. have further underlined the need for reliable and integrated defense capabilities also for critical infrastructurethrough under. Hyderpac is positioning itself as a technology and its industrialization partnerin a growing defense market. leveraging existing engineering, manufacturing and system integration expertise While this business is still at anearly stage, we continue to see significant long term potential and remains fully committed toexpanding our presence In the security. and defense six stars Before turning to the detailed financial review, let me briefly summarize the keyhighlights of the first quarter. In our core business, we further strengthened our market position to the integration of men role and cheat set.and the acquisition of POLAR. We also achievedthe first. successful b and f. machine sales firm and rolling customer. demonstrating the initial commercial benefits of the transaction. In addition, we continued to intensify our partnerships Digital printing and further strengthened ourpackaging ecosystem. through targeted collaborations. Another important milestone was the launchof our new production site in North Macedonia.supporting our ongoing efficiency and cost optim ization agenda. with our second growth pillar Onback to adventure, comment. operations for automated drone defense while designing of the MOU with Skyson further expanded our capabilities inunmanned そして。 Hd Advanced Technologies also entered into theirstrategic partnership with Energy. opening access to the energy storage market and creating anadditional growth opportunity beyond Our traditional core business. OVERALL The first quarter demonstrated solid progress in executing our strategic priorities. and further advancing Heidelberg's diversification and growth agenda. And withthat, I'll hand over to Folka. Thank you, you again. Good morning, ladies and gentlemen. Let menow turn to our financial performance in the first quarter. of fiscal year to twenty six, two thousand and twenty seven. 嗯。 As expected. We continue to operate in a challenging market environment. Order intake amounted to 537 million euros. 嗯。compared to 560 million euros in the prior year quarter. fees were changing at a decline of 4%. The main reason was expiry. of the Italian incentive program. which has significantly supported order intake last year. encouragingly We continued to see positive momentum in China. the United States nine our order backlog increased from six hundred and thirty-ninemillion euros at the beginning of the fiscal year. to 762 million euro at the end of June. providing good visibility for the coming course. Netsales amounted to 404 million euro compared to466 million in the prior year quarter. the decline of thirteen percent. Saloma sales volume wasprimarily driven by softer demand improvements and packaging particularly. In the mirror and Italy following the phase-out of the subsidy program. The lower sales volume had a direct