Heidelberger Druck: Becoming an arms player – risks and opportunities!

Heidelberger Druck: Becoming an arms player – risks and opportunities!

Heidelberger Druckmaschinen, a traditional company with over 170 years of history in the printing industry, is currently making headlines. In the first quarter of the 2025/26 financial year, an impressive increase in sales of 16% to 466 million euros was recorded, especially in Europe and Asia. This growth goes hand in hand with a positive development in the adjusted EBITDA margin, which improved to 4.4% - a notable improvement compared to the previous year, when it was still at -2.3%. [Kapitalhöhen.de](https://www.haupthoehungen.de/kommentare/3-aktien-3-megatrends-das- Growths-geheimnis-von-heidelberger-druck-volatus-aerospace-und-d-wave-quantum) has summarized the full details of this positive trend.

What is particularly exciting is the decline in the operating loss after taxes to 11 million euros. In the context of this financial recovery, Heidelberger Druck announced its intention to enter the defense industry through a partnership with VINCORION, a provider of military energy systems. This step takes place in a market that is under pressure due to digitalization in the printing sector. The decision to accept large orders for the development of energy control and distribution systems for military applications could make Heidelberger Druck an important Tier 2 or Tier 3 supplier in the defense industry in the medium term. According to Kettner Edelmetalle, this step is seen as a paradigm shift as the company could change its identity from a printing press manufacturer to a defense supplier.

Growth with challenges

It's not just the sales and the strategic realignment that are remarkable. The order intake of 559 million euros exceeds the strong previous year's figures, which were characterized by the renowned Drupa trade fair. Despite the challenges, Heidelberger Druck remains optimistic and reiterates its annual forecast of 2.35 billion euros in sales and an EBITDA margin of up to 8%. In addition, a current study by the DHBW shows the megatrend of “paperization”, in which paper is increasingly replacing plastic packaging. In this context, Heidelberger Druck also announced a cooperative partnership with the chemical specialist Solenis to integrate economical inline coatings into the printing processes.

However, the challenges that come with switching to new technologies should not be underestimated. Issues such as barrier coatings and the increased cost structure must be mastered in order to be able to operate successfully in the new business area.

A look at the industry

In a broader context, it becomes clear that Heidelberger Druck is not alone in changing. Volatus Aerospace, a player in the North American drone market, is also on the rise. With targeted revenue of C$50 million by the end of 2025 after an increase of $660,000 in 2021, the company is solidifying its position in niches such as public safety and defense. The expansion of drone operations and new cooperation with NATO partner countries are also planned.

D-Wave Quantum also plays an essential role in the development of new technologies. The second quarter of 2025 saw a 42% increase in revenue to $3.1 million, accompanied by a stable gross profit of 64%. The focus on quantum computing and AI is underpinned by a capital increase of over USD 400 million intended for acquisitions and growth investments.

All in all, it can be said that Heidelberger Druck and its industry colleagues are on the threshold of significant changes. The challenge lies not only in adapting to new markets, but also in ethically dealing with the consequences of such business areas.