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HEIDELBERG anticipates a very strong second half to financial year 2024/2025

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  • Incoming orders after six months above previous year’s level thanks to strong drupa orders
  • High order backlog provides sound basis for projected sales volume in second half of the year, capacities being fully utilized
  • Strong seasonality in financial year, with sales and EBITDA in the first half of the year within expectations
  • Packaging solutions segment remains growth driver
  • Annual forecast confirmed

Thanks to a high order backlog of € 953 million, Heidelberger Druckmaschinen AG (HEIDELBERG) anticipates that the second half of financial year 2024/2025 will be strong, while current developments over the quarters reflect the pronounced seasonality that is to be expected. This positive outlook is based on strong incoming orders in the first half of the year, which are 7.4 percent up on the previous year, at € 1.273 billion. Sales of € 915 million were within expectations, due to purchasing restraint ahead of the drupa trade show (previous year: € 1,092 million).

“HEIDELBERG is starting a very strong second half of the year. We are now ramping up the utilization of our production capacities so we can work through our order backlog in the third and fourth quarters quickly and profitably,” says HEIDELBERG CEO Jürgen Otto. “The forecast sales volume for new machines has already been almost entirely met with orders and our production operations are running at full capacity. We can be confident that we will achieve our targets for the year.”

HEIDELBERG is still particularly strong in and around China. Incoming orders in the Asia Pacific region recorded the clearest growth in the first six months of the current financial year, increasing by approximately 10 percent.

Based on strong order levels, the company anticipates a clear increase in sales in the second half of the current financial year in particular. When adjusted for special items, the

EBITDA margin in the first six months of financial year 2024/2025 was 3.4 percent (same period of previous year: 9.2 percent) and was impacted in particular by lower sales in Q1 and by expenses related to drupa. Strict cost discipline had a positive impact in the reporting period. This is another reason why EBITDA improved significantly compared to the first quarter from € -9 million to € 40 million. During the period under review, there were no special items that require adjustment. Compared to the same period of the previous year (€ 33 million), the result after taxes after six months dropped in line with the lower adjusted EBITDA to € -35 million. In the second quarter, the result after taxes was positive, at € 7 million (same quarter of previous year: € 23 million).

After the first half-year, free cash flow
was, as anticipated, € -102 million (same period of previous year: € -28 million). It improved significantly in the second quarter, creeping into positive figures, at € 2 million. “Our active cost management is increasingly bearing fruit by considerably improving free cashflow over the course of the year,” reports
HEIDELBERG CFO Tania von der Goltz. “Consistent cost control over the coming months will play a big part in the success of the current financial year. Furthermore, the anticipated improvements in results in the second half of the year will have a positive impact on the free cash flow.”

Packaging solutions segment remains growth driver

annual forecast confirmed

Compared to the same period of the previous year, the packaging solutions segment was able to increase incoming orders in the first half of the year by around 9.7 percent to € 675 million, thereby contributing approximately 53 percent to the total volume. Megatrends in the packaging market are first and foremost the growing demand for packaging that is both sustainable and high-quality. This is where the positioning of HEIDELBERG as a systems integrator and total solution provider has a positive impact, helping to further expand its very strong position in the packaging market. The company also anticipates further growth opportunities in China due to its location benefits. In the print solutions segment, incoming orders rose in the same period by around 5.5 percent to € 594 million.

Beyond the packaging business, HEIDELBERG wants to capitalize on other strengths. The company is characterized by a high export ratio, as over 80 percent of its business is generated outside of Germany. In particular, the company sees further growth opportunities in China and the Asia-Pacific region thanks to local production and a very strong market position. Beyond Asia, HEIDELBERG benefits globally in the service business from a large installed base of machines that are connected to HEIDELBERG via a cloud. Networking allows the efficiency of the systems to be improved, preventive maintenance to be planned and software updates to be installed.

Taking into account the expectations and assumptions published and presented in the 2023/2024 management report, the Company continues to expect sales for financial year 2024/2025 to be in line with the previous year’s figure (previous year: € 2,395 million). The adjusted EBITDA margin is also expected to be similar to the previous year’s figure (previous year: 7.2 percent). The high order backlog resulting from the successful drupa trade fair and the continuous focus on margins and costs will provide a sound basis for the achievement of the targets. In future, the focus will primarily be on strategic growth measures in the Packaging, Industry and Service segments, as well as further cost reductions.

Image material and further information about the company are available in the Investor Relations portal and Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.

Further information:

Corporate Communications

Florian Pitzinger

Phone: +49 151 67968774

E-mail: [email protected]

Thomas Fichtl

Phone: +49 6222 82-67123

E-mail: [email protected]

Investor Relations

Maximilian Beyer

Phone: +49 6222 82-67120

E-mail: [email protected]

Important note:

This press release contains forward-looking statements based on assumptions and estimates made by the management of Heidelberger Druckmaschinen Aktiengesellschaft. Even if the company management is of the opinion that these assumptions and estimates are accurate, actual future developments and future actual results may deviate considerably from these assumptions and estimates due to a variety of factors. These factors may include, for example, changes in the overall economic situation, exchange rates and interest rates as well as changes within the graphic arts industry. Heidelberger Druckmaschinen Aktiengesellschaft provides no guarantee and assumes no liability that future developments and the actual results achieved in the future will correspond to the assumptions and estimates made in this press release.

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AI Revolutionizes Cryptocurrency Trading with Real-Time Analysis

AI algorithms are transforming cryptocurrency trading by offering real-time analysis and unprecedented efficiency. This article explores the technological advancements and their impact on the crypto market.

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Artificial intelligence is rapidly reshaping the cryptocurrency trading landscape, a fact made clear by recent reports from Bloomberg. The integration of AI algorithms into trading strategies is providing unprecedented real-time analysis and efficiency, a development that is attracting significant attention from investors eager to capitalize on the volatile yet lucrative crypto markets.

In May 2026, Bloomberg highlighted how AI technologies are enabling traders to process vast amounts of market data at speeds unattainable by human analysts. This capability allows for the detection of patterns and trends that might otherwise go unnoticed, offering a competitive edge to those who harness these tools. The real-time nature of these analyses means traders can make decisions based on the most current market conditions, enhancing the potential for profitable trades.

The application of AI in cryptocurrency trading is not merely a theoretical concept but a practical reality transforming investment strategies. For instance, hedge funds and institutional investors are increasingly relying on machine learning models to predict price movements and optimize trading algorithms. These models can analyze a myriad of factors, from market sentiment to historical price data, adjusting trading strategies dynamically in response to new information.

AI’s role in enhancing trading efficiency is particularly crucial in the cryptocurrency markets, where volatility is a constant challenge. The ability to swiftly process and react to market changes can mean the difference between a lucrative trade and a significant loss. This agility is driving interest from tech-savvy investors who are keen to leverage innovation for financial gain.

However, the rise of AI in cryptocurrency trading is not without its challenges. Regulators are grappling with the implications of these technologies, as traditional oversight mechanisms struggle to keep pace with rapid technological advancements. There is an ongoing debate about the need for new regulatory frameworks to ensure fair and transparent trading practices.

Despite these challenges, the potential benefits of AI in cryptocurrency trading are substantial. As the technology continues to evolve, it is likely to drive further innovation in the financial sector, offering new opportunities for growth and investment. Investors and firms that can effectively integrate AI into their trading strategies are poised to thrive in this new digital era.

The future of cryptocurrency trading appears increasingly intertwined with AI technology. As more traders adopt these advanced tools, the market dynamics will likely shift, favoring those who can adapt quickly to technological changes. The ongoing integration of AI into cryptocurrency trading not only heralds a new era of financial innovation but also underscores the transformative power of technology in shaping the future of finance.

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Business & Finance

The Rise of Green Finance in Europe: Challenges and Limitations

Explore the burgeoning field of green finance in Europe, focusing on the critical challenges and limitations that could shape its future. This article provides a thorough analysis of the barriers to sustainable investment growth and the potential implications for investors.

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As the sun rises over Europe’s financial districts, a new wave of investment strategies is beginning to take shape. Green finance, a term that encapsulates financial investments flowing into sustainable and environmentally friendly projects, is gaining traction across the continent. However, beneath the surface of this promising trend lie significant challenges that could impede its progress.

The current landscape of green finance in Europe is characterized by an increasing number of funds and initiatives aimed at supporting sustainable development. The European Union has been at the forefront, implementing a comprehensive framework that encourages green investments. This includes the EU Green Deal and the Sustainable Finance Disclosure Regulation (SFDR), which aim to direct capital flows towards sustainable economic activities. Despite these efforts, the journey towards a universally green financial system is fraught with obstacles.

One of the primary challenges facing green finance is the lack of standardized definitions and metrics. What exactly constitutes a ‘green’ investment can vary significantly across regions and sectors, leading to confusion and inconsistency. This lack of clarity can result in greenwashing, where investments are marketed as sustainable without meeting rigorous environmental criteria. The absence of a unified taxonomy complicates efforts to assess and compare the sustainability of different financial products.

Moreover, the transition to green finance is hindered by the existing financial infrastructure. Traditional financial systems are deeply entrenched, often prioritizing short-term gains over long-term sustainability. This systemic inertia makes it difficult for green initiatives to gain a foothold. Additionally, many investors are still skeptical about the profitability of sustainable investments, perceiving them as risky or less lucrative compared to conventional options.

Another significant limitation is the uneven distribution of green finance across Europe. While countries like Germany and the Nordic nations have made substantial progress in integrating sustainable practices, others lag behind due to economic and regulatory disparities. This imbalance poses a challenge to achieving a cohesive and effective green finance strategy across the continent.

The role of technology and innovation in overcoming these challenges cannot be overstated. Advancements in fintech, such as blockchain and artificial intelligence, have the potential to enhance transparency and efficiency in green finance. These technologies can help track and verify the environmental impact of investments, thus building trust and credibility in the market.

Despite these hurdles, the future of green finance in Europe holds promising opportunities. As awareness of climate change grows, so does the demand for sustainable financial products. Investors are increasingly recognizing the long-term benefits of aligning their portfolios with environmental goals. Furthermore, regulatory pressures and societal expectations are likely to drive more companies towards sustainable practices, thereby expanding the scope of green finance.

In conclusion, while the rise of green finance in Europe is a step in the right direction, it is not without its challenges. Addressing the issues of standardization, infrastructure, and regional disparities will be crucial in unlocking the full potential of sustainable investments. As Europe navigates these complexities, the outcome will not only shape the future of its financial markets but also its commitment to a sustainable global economy.

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Business & Finance

Fed Ends Crypto-Specific Oversight: What It Means for the Industry

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By PromoMag Business Desk | August 2025

The U.S. Federal Reserve has officially ended its dedicated oversight program for crypto and fintech—signaling a shift in how regulators will handle digital asset activities going forward. The “novel activities” supervisory program, introduced in 2023, is being dissolved, with crypto oversight now folded back into the Fed’s traditional bank examination framework. The decision has stirred debate across the financial world, as institutions assess whether this signals regulatory maturity—or strategic retreat.

The implications are significant. From compliance teams at major banks to fintech startups vying for legitimacy, everyone involved in digital assets must now recalibrate to meet evolving expectations without the specialized lens once offered by the Fed’s focused crypto arm.

The move suggests the Fed believes crypto is now mainstream enough to be treated as part of general financial supervision—yet critics worry this could dilute the nuanced oversight digital assets require.

Background: The “Novel Activities” Framework

The Fed launched its novel activities supervision program in August 2023 in response to growing integration of crypto, stablecoins, and blockchain-based banking functions across U.S. financial institutions. The initiative aimed to provide centralized expertise and scrutiny for risk-laden innovations, including tokenized assets and distributed ledger operations.

It operated parallel to traditional supervisory mechanisms, offering more specialized attention to high-risk fintech and crypto ventures while maintaining consistency across regional Federal Reserve Banks.

This structure was designed to address growing concern about the systemic risk posed by digital assets—especially in the wake of crypto collapses like FTX and TerraUSD.

Why the Fed Is Pulling the Plug

Fed officials have not framed the closure as a downgrade of crypto’s importance, but rather as a consolidation of resources. According to internal briefings, the rationale centers around streamlining compliance review, increasing supervisory efficiency, and reducing regulatory overlap.

A spokesperson from the Federal Reserve Board stated:
“We are embedding digital asset risk monitoring within our standard supervisory models, ensuring consistent treatment across all novel activities.”

In essence, the Fed believes that its traditional supervisory programs are now sophisticated enough to handle digital asset risks without the need for a separate channel.

Industry Response: Mixed Signals

Reactions from the financial sector are divided.

Major banks—including those offering crypto custody services or tokenized asset platforms—have expressed relief at the perceived reduction in regulatory burden. According to a senior compliance officer at a top-five U.S. bank:
“It’s a positive signal. The Fed sees crypto activities as part of the financial mainstream.”

However, fintech startups and some policy analysts worry the decision could lead to a loss of institutional expertise and focus, potentially making it harder to navigate complex regulatory expectations.

Crypto advocacy groups, such as the Blockchain Association, warned that “folding crypto oversight into legacy systems” could slow innovation and diminish clarity for newcomers to the space.

Regulatory Consequences for the Crypto Ecosystem

This shift creates a new regulatory reality for institutions engaged in digital asset activities.

Firms can expect a more generalized approach to supervision, one less tailored to the unique volatility and structural intricacies of blockchain technology. While this might reduce compliance complexity, it also removes the layer of crypto-specific feedback once provided under the novel activities program.

The Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC) have shown no indication of following suit, meaning regulatory fragmentation in the U.S. will likely persist.

Moreover, it raises questions about the future of coordinated federal crypto policy—especially as debates continue over stablecoin regulation and the role of central bank digital currencies (CBDCs).

Global Context: Lagging or Leading?

The Fed’s move contrasts with approaches taken in Europe, Asia, and even the UK.

The EU’s Markets in Crypto-Assets (MiCA) regulation has introduced a fully bespoke framework for digital asset supervision, offering clarity and structure to market participants. Hong Kong and Singapore have likewise invested heavily in dedicated crypto regulation teams and innovation hubs.

In the UK, although regulatory clarity has been slow, the recent announcement that retail investors will soon access regulated crypto ETNs on the London Stock Exchange underscores a willingness to evolve within clear frameworks.

As a result, some experts argue the U.S. risks falling behind its global peers in crypto governance and innovation readiness.

What Happens Next

For institutions, the end of the Fed’s crypto-specific program means adapting to a more homogenized—but perhaps less predictable—regulatory regime.

Financial firms should review their risk disclosures, audit procedures, and supervisory expectations to align with the broader examination frameworks now in place. The Fed is expected to release updated supervisory guidance before the end of 2025 to assist with the transition.

Market watchers will also look to Congress for any moves toward legislative clarity, particularly around stablecoins, custody rules, and crypto exchange oversight.

Final Thoughts

The Fed’s decision to retire its novel activities supervision marks a turning point. On the one hand, it acknowledges crypto as no longer “novel”—but rather as an established component of financial services. On the other, it risks flattening the regulatory nuance needed to address crypto’s unique challenges.

Whether this shift accelerates mainstream adoption or muddies the regulatory waters will depend on how swiftly and clearly the Fed communicates its new expectations.

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