- Taking over manroland sheetfed lifecycle business and POLAR production operations strengthens core business
- ONBERG pursuing partnership with Skyeton in European defense sector
- Move into production of sodium-ion battery storage systems taps into new potential
- First-quarter incoming orders lay solid foundation for further business development
- Sales and EBITDA margin at start of year in line with expectations
- Forecast for financial year 2026/2027 confirmed
HEIDELBERG, GERMANY - Newsaktuell – 19 August 2026 - Heidelberger Druckmaschinen AG (HEIDELBERG) has started financial year 2026/2027 by systematically continuing its transition to a more broadly based technology company. HEIDELBERG is setting the course for future growth with a number of strategic initiatives. Besides expanding its core business by taking over manroland sheetfed lifecycle business and POLAR production operations, the company is also tapping into additional potential by taking advantage of new market opportunities arising from energy storage systems and the European defense sector.
HD Advanced Technologies is handling industrial production of battery energy storage systems (cabinets) for PHENOGY.
Integration of the manroland sheetfed Group's lifecycle business and global sales and service companies, together with full acquisition of POLAR postpress systems, has further enhanced the strategic position of HEIDELBERG as a systems integrator in its core business. As part of the manroland sheetfed transaction, HEIDELBERG has also secured the intellectual property rights for the Roland 900 / Cartonmaster in the large-format sheetfed offset segment. The first press of this model has already been sold, and HEIDELBERG is currently looking into further production and development options for this system at a low-cost location. In this way, the company is reinforcing its leading position in the printing and packaging sector.
Live Hub opened to demonstrate integrated drone defense
At the recent international aerospace trade show ILA Berlin, ONBERG signed a Memorandum of Understanding for a further joint venture – with the Ukrainian drone developer Skyeton. The Skyeton portfolio includes high-tech, combat-proven surveillance drones, which are being combined with the HEIDELBERG unmanned ground vehicle (UGV) to create an autonomous system of systems. The unmanned air-ground systems that are currently being developed in rapid innovation cycles in Ukraine are increasingly regarded as a future defense solution. In July, ONBERG opened a Live Hub to demonstrate integrated counter-UAS capabilities at its Brandenburg site, where decision-makers from public authorities, operators of critical infrastructure, the armed forces, and industry can see exactly how integrated protection from enemy drones works in practice.
The move by HD Advanced Technologies into the production of sodium-ion battery storage systems is also opening up new potential. The company has teamed up with Swiss business PHENOGY to collaborate on a technology and industry platform in this sector. As an initial step, HD Advanced Technologies will start handling the industrial manufacturing of complete energy storage systems for PHENOGY – from procurement and production through to rollout, installation, service, and maintenance. The two companies are also laying the groundwork for a joint venture focusing on the development and industrial manufacturing of sodium-ion battery cells based on PHENOGY's cell chemistry and a specific printing process from HEIDELBERG.
"This financial year at HEIDELBERG is all about investments in line with our strategic agenda. We are looking to further strengthen the company's market position and tap into new potential. This will create the basis for profitable growth and sustainable value enhancement in the coming years," says Jürgen Otto, CEO of HEIDELBERG.
Solid start to FY 2026/2027
During the first quarter of financial year 2026/2027 (April 1 to June 30, 2026), underlying conditions continued to be challenging for HEIDELBERG. Despite this, the incoming orders figure of € 537 million was only slightly down on the equivalent quarter of the previous year (€ 559 million) and therefore laid a solid foundation for further business development. The phasing-out of a state-subsidized investment program in Italy had a massive impact in the first quarter, reducing incoming orders there by over € 60 million compared with the corresponding quarter of the previous year. The positive developments in China and the rest of Asia only partly compensated for this.
Sales totaled € 404 million and, as expected, were therefore below the figure for the equivalent period of the previous year (€ 466 million). Sales were significantly higher in China, the UK, and Brazil, but lower elsewhere, especially in the EMEA region. Adjusted for special items, the EBITDA margin for the first quarter of financial year 2026/2027 was 0.2 percent (corresponding quarter of previous year: 4.4 percent), primarily due to the lower volume of sales. As is normally the case at this point in the financial year, the free cash flow after the first three months was negative, at € -77 million (equivalent period of previous year: € -68 million). The net result after taxes for the first quarter amounted to € -32 million (corresponding period of previous year: € -11 million).
The HEIDELBERG Technology segment's incoming orders and sales after three months exceeded the level recorded in the equivalent period of the previous year. Adjusted EBITDA remained stable at € -4 million. A partly expected downturn in the EMEA region was a particular factor contributing to the Print & Packaging Equipment segment's lower incoming orders and sales. In the Digital Solutions & Lifecycle segment, incoming orders after three months were around 5 percent up on the equivalent quarter of the previous year, while sales matched the previous year's quarterly figure.
"In our core business, we are targeting our investments toward growth markets, which is also boosting our service, consumables, and spare parts business," says Dr. David Schmedding, Chief Technology & Sales Officer at HEIDELBERG. "At the same time, we can increase the proportion of repeat sales and better balance out new machine business, which tends to depend on economic trends," he adds.
Forecast for financial year 2026/2027 confirmed
The forecast for financial year 2026/2027 remains unchanged. The company is expecting stable Group sales matching the previous year's level in financial year 2026/2027 and a noticeable improvement in the adjusted EBITDA margin compared with the previous year. It is assumed that there will be no substantial changes in relevant exchange rates for business activities.
The issuer is solely responsible for the content of this announcement.
About HEIDELBERG:
Heidelberger Druckmaschinen AG (HEIDELBERG) is a leading technology company that has been standing for innovation, quality, and reliability in mechanical engineering worldwide for 175 years. With a clear focus on growth and as a total solution provider, HEIDELBERG is driving further development in the core areas of packaging and digital printing, software solutions, and lifecycle business with service and consumables so that customers can achieve maximum productivity and efficiency. The company is also focusing on expanding into new business areas such as high-precision plant engineering with integrated control systems, automation technology, robotics, and the growing green technologies sector. With its strong international presence in approximately 170 countries, the creative power and expertise of its roughly 9,500 employees, its own production facilities in Europe, China, and the USA, and one of the largest global sales and service networks, the company is ideally positioned for future growth.
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.
Important note:
This release contains forward-looking statements based on assumptions and estimates by the management of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the management is of the opinion that these assumptions and estimates are accurate, the actual future development and results may deviate substantially from these forward-looking statements due to various factors, such as changes in the overall economic situation, in exchange and interest rates, and within the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft provides no guarantee and assumes no liability for future developments and results deviating from the assumptions and estimates made in this press release.
** This press release is distributed by Media OutReach Newswire through automated distribution system, for which the client assumes full responsibility. **
Key findings: 10Life found that premiums for the same airline embedded travel insurance plan ranged from HK$859 to HK$1,153 for the same route and trip duration, a 34% difference. Every HK$1,000 increase in airfare was associated with an increase of around HK$22 in the add-on premium, while similar coverage via an insurance comparison platform cost around HK$262, about one-quarter of the airline's highest quote.
HONG KONG SAR – Media OutReach Newswire – 19 August 2026 – Adding travel insurance when booking a flight is a common practice among many Hong Kong travellers. However, the latest test by 10Life's Research and Data Analytics team found that the same coverage may not always come at the same price.
Using the profile of one Hong Kong adult traveller, 10Life compared airline embedded travel insurance for a 14-day Hong Kong to New York trip across two departure dates and three economy fare classes, covering six scenarios in total. Each scenario involved the same travel insurance plan, coverage level, coverage details and benefit limits. Despite this, premiums ranged from HK$859 to HK$1,153, with the highest quote 34% higher than the lowest.
Table 1: Six quotes for the same travel insurance plan for a 14-day Hong Kong to New York trip, ranked by premium
| Return airfare | Travel insurance premium | Difference vs. lowest premium | Fare class | Departure date |
| HK$9,131 | HK$859 | — | Light | 15 to 28 October |
| HK$10,631 | HK$892 | +4% | Essential | 15 to 28 October |
| HK$12,531 | HK$935 | +9% | Flexi | 15 to 28 October |
| HK$19,411 | HK$1,087 | +27% | Light | 17 to 30 August |
| HK$20,461 | HK$1,110 | +29% | Essential | 17 to 30 August |
| HK$22,361 | HK$1,153 | +34% | Flexi | 17 to 30 August |
Note: The premium difference is calculated against the lowest premium among the six tested scenarios, at HK$859. Test conditions: one adult traveller, single return trip, destination New York (John F. Kennedy International Airport), 14-day trip. Test and data update date: 6 August 2026. All amounts are in Hong Kong dollars. Premium amounts and percentages are calculated based on the relevant premiums and rounded to the nearest whole number. Premiums and quotes may change from time to time. Actual prices should be based on the relevant page shown at the time of purchase or booking.
1. Premiums appear to move with airfare, rather than being priced solely by coverage
Across the six tested scenarios, higher airfares were consistently associated with higher add-on travel insurance premiums. 10Life's analysis found an almost linear relationship between airfare and premium: for every HK$1,000 increase in airfare, the add-on travel insurance premium rose by around HK$22.
Travel insurance premiums should generally be priced according to factors such as trip duration, destination, traveller age and coverage details, as these are the factors that typically determine risk. For the same departure date, destination and trip duration, the likelihood of an accident or medical claim should not increase simply because the airfare is higher.
It is also worth noting that higher fare classes usually offer more flexible change, cancellation or refund arrangements, which could theoretically reduce part of the trip cancellation risk. However, in the test, premiums for higher fare classes increased instead of decreasing. During the booking process, consumers may not easily notice these fluctuations in the travel insurance premium.
2. Other purchase channels did not show similar price fluctuations, with premiums up to 77% lower
10Life also reviewed two travel insurance products in the market offering similar coverage, referred to here as Product A and Product B. The findings showed that, whether purchased directly through an insurer's website or via an insurance comparison platform, premiums were generally calculated based on trip details, such as destination, trip duration and traveller age. They did not appear to vary according to airfare.
Table 2: Premium comparison across different purchase channels for a 14-day Hong Kong to New York trip
| Purchase channel | Premium | Does the premium vary with airfare? |
| Product A purchased through an insurance comparison platform | HK$262 | No observed fluctuation |
| Product A purchased through an insurer's website | HK$287 | No observed fluctuation |
| Product B purchased through an insurance comparison platform | HK$442 | No observed fluctuation |
| Product B purchased through an insurer's website | HK$553 | No observed fluctuation |
| Airline booking page add-on | HK$859 to HK$1,153 | Fluctuation observed |
Note: Quotes for products purchased directly through insurer websites and insurance comparison platforms were based on travel insurance products with similar coverage. Product names, quote sources and key benefit limits are set out in the appendix. Test conditions are the same as Table 1. All amounts are in Hong Kong dollars and rounded to the nearest whole number. Coverage scope, benefit limits, claim conditions and exclusions may vary between products. Consumers should read the policy terms carefully before purchasing. Product A refers to MSIG iTravel Go Plan B; Product B refers to HSBC TravelSurance Worldwide Basic Plan. Quotes from the insurance comparison platform were obtained from the 10Life platform.
The airline booking page's highest quote was HK$1,153, while Product A, which offers similar coverage, was quoted at HK$287 on the insurer's website and HK$262 through an insurance comparison platform — approximately 75% and 77% lower respectively. Even compared with the airline booking page's lowest quote of HK$859, Product A was still approximately 67% and 70% lower through the two channels.
Product B showed a similar trend. It was quoted at HK$553 on the insurer's website and HK$442 through an insurance comparison platform, which were approximately 52% and 62% lower than the airline booking page's highest quote, and approximately 36% and 49% lower than its lowest quote. Unlike the airline booking page, quotes from insurer websites and comparison platforms did not appear to vary according to airfare, suggesting that the convenience of one-click add-on may come at a higher cost.
3. 10Life view: Convenience should not come at the expense of pricing transparency
Airlines have increasingly separated flight-related charges, with services such as seat selection, baggage and ticket changes priced individually. Consumers can usually understand these differences because the service itself varies.
Dexter Ng, Head of Research and Data Analytics at 10Life, said: "Consumers generally understand why seat selection or baggage fees may differ, because the service itself is different. But if it is the same travel insurance plan, with the same coverage and the same benefit limits, the premium should not rise simply because the airfare is higher. In our test, the same coverage rose from HK$859 to HK$1,153 across different booking scenarios, a difference of nearly HK$300. From a consumer perspective, pricing the same insurance coverage based on airfare is difficult to justify."
10Life believes that when the same insurance plan is priced differently across fares or booking scenarios without a clear explanation, consumers may find it difficult to judge whether the premium is reasonable. This lack of transparency is unfair to consumers. The key question is simple: should travel insurance premiums be based on the coverage provided, or on the price of the flight ticket?
4. Three travel insurance tips from 10Life
- Compare other purchase channels before adding travel insurance
Before confirming a one-click travel insurance add-on, consumers can take 30 seconds to open another tab and check similar products on insurer websites or insurance comparison platforms. Consumers may find plans with similar, or even better, coverage at a lower premium. In 10Life's test, the premium difference could amount to several hundred Hong Kong dollars. - A higher premium does not necessarily mean better coverage
When choosing a plan, consumers should compare key benefit limits, including medical expenses, trip cancellation, baggage and personal accident coverage. They should also read the claim conditions and exclusions carefully. - A higher airfare does not necessarily mean more expensive travel insurance is needed
Trip cancellation cover is usually subject to a fixed benefit limit, meaning a higher airfare does not automatically result in a higher payout. Consumers should compare the actual benefit limit against their ticket cost, and review exclusions carefully, especially if the trip involves family travel, self-driving, diving, skiing, cruise holidays or other activities that may be subject to specific conditions.
Travellers who are unsure how to choose travel insurance may use the Travel Insurance Recommendation Tool for an initial comparison. By answering a few questions, the system can help match suitable travel insurance products based on destination, trip type and potential risks. Travellers may also use an insurance comparison platform to compare premiums, coverage scope, claim conditions and key terms across different products, helping them understand the coverage clearly before purchasing.
Travel insurance comparison: https://www.10life.com/en/products/travel
Travel insurance recommendation tool: https://www.10life.com/en/products/travel/recommend
About the Study
This test used the profile of one Hong Kong adult traveller and compared the same travel insurance plan recommended on the booking page of the same airline. Using a 14-day Hong Kong to New York trip as an example, the test covered two departure dates and three economy fare classes, resulting in six scenarios in total. All quotes were obtained based on one adult traveller taking a single return trip. 10Life did not test all airlines in the market. The results reflect only the airline, route and scenarios tested. Full data is available from 10Life upon request.
Reference Materials
Appendix 1: Comparison of key travel insurance benefit limits
| Key benefit limit | Airline booking page add-on plan | Product A: MSIG iTravel Go Plan B | Product B: HSBC TravelSurance Worldwide Basic Plan |
| Medical expenses | HK$1,000,000 | HK$1,000,000 | HK$1,000,000 |
| Personal accident | HK$500,000 | HK$500,000 | HK$800,000 |
| Trip cancellation | HK$20,000 | HK$25,000 | HK$25,000 |
| Travel delay | HK$2,500 | HK$2,000 | HK$2,000 |
| Baggage delay | HK$1,000 | HK$500 | HK$1,000 |
| Personal belongings | HK$10,000 | HK$15,000 | HK$8,000 |
Note: The above table sets out only the maximum benefit limits for selected key coverage items and does not represent the full coverage of each product. Coverage scope, claim conditions, exclusions, item sub-limits and compensation calculation methods may vary between products. Consumers should read the policy terms carefully before purchasing. Benefits such as travel delay and baggage delay may be subject to delay duration, per-incident limits or specific claim conditions, and may not be directly comparable based solely on the total benefit limit. All amounts are in Hong Kong dollars. The information was compiled based on publicly available product information and test results. Data update date: 6 August 2026. Actual coverage, premiums and final underwriting results should be subject to the information shown on the purchase page, the relevant policy terms and the insurer's final approval.
Notes
- Test conditions: one adult traveller, single return journey, destination New York, John F. Kennedy International Airport, with a trip duration of 14 days. The test covered two departure dates and three economy fare classes, resulting in six scenarios in total.
- Data from the airline booking page test was collected and updated on 6 August 2026. Comparison data for products purchased directly through insurer websites and insurance comparison platforms was also collected on 6 August 2026.
- Airline travel insurance premiums and plan information were obtained from tests conducted on the airline booking page. The airfare referenced in this release includes fuel surcharges, taxes and other charges.
- The comparison products purchased directly through insurer websites and insurance comparison platforms. Product A refers to MSIG iTravel Go Plan B; Product B refers to HSBC TravelSurance Worldwide Basic Plan. Quotes from the insurance comparison platform were obtained from the 10Life platform.
- All amounts are in Hong Kong dollars. Premium amounts and percentages are calculated based on the relevant premiums and rounded to the nearest whole number.
- The comparison was made based on products with similar coverage. However, coverage scope, benefit limits, claim conditions and exclusions may vary between products. Consumers should read the policy terms carefully before purchasing.
- The premiums, discounts and quoted prices above may change from time to time and may vary depending on purchase time, purchase channel, trip details and policy terms. Actual prices and final coverage should be subject to the information shown on the purchase and booking pages, the relevant insurer's published information and final approval.
- This study was conducted by 10Life's Research and Data Analytics team.
Hashtag: #10Life
The issuer is solely responsible for the content of this announcement.
About 10Life
10Life is a one-stop insurance comparison platform committed to bringing fair insurance to life. Founded by insurance professionals, 10Life combines technology with a human-centered approach to bring fair products, fair sales and fair claims to Hong Kong.
10Life pioneered insurance product ratings, enabling consumers to compare premiums, coverage scope, key terms and actuarial ratings across different insurance products, and purchase selected plans online according to their needs. The 10Life team also includes insurance advisers who provide professional advice based on customer needs, while independent claims specialists focus on claims support, helping policyholders obtain fair compensation.
10Life's services cover insurance comparison, purchase and claims support, with the goal of helping consumers "buy right insurance and get fair payout".
For more information about 10Life, or to compare different types of insurance, please visit: 10life.com
** This press release is distributed by Media OutReach Newswire through automated distribution system, for which the client assumes full responsibility. **
