Hoenle AG: Hoenle posts surge in earnings in the second quarter; forecast confirmed

Gilching (pta014/19.05.2026/08:40 UTC+2)

• Hoenle Group achieves sales of EUR 45.3 million (-3.9%) in the first half of the financial year
• Reluctance to invest in mechanical and plant engineering weighs on Curing business unit
• Gross profit of EUR 30.0 million (+0.1%) at previous year's level
• EBITDA of EUR 2.7 million (-9.5%)
• Management Board confirms outlook for financial year 2025/26

In a market environment that continued to be characterized by reluctance to invest, revenue in the first six months of the 2025/26 financial year was T€ 45,319, down on the previous year's revenue of T€ 47,168. In the Curing business unit in particular, sales declined significantly in the first half of the year. As forecasted, there was a revival of business activity in the second quarter of the fiscal year. After revenue of T€ 21,475 in the first quarter, revenue rose to T€ 23,844 in the second quarter. The quarterly result (EBITDA) climbed from €0.5 million in the first quarter to €2.2 million in the second quarter.

It is pleasing that the cost-cutting measures implemented are having an effect. Portfolio adjustments contributed to the fact that gross profit remained at the previous year's level despite lower revenues; it amounted to T€ 29,985 in the first half of the year (previous year: T€ 29,946). At T€ 2,736, earnings before interest, taxes, depreciation and amortization (EBITDA) were below the previous year's figure of T€ 3,022. The operating result (EBIT) was slightly positive at T€ 24 (previous year: T€ 274). Earnings before taxes (EBT) amounted to T€ -1,039 (previous year: T€ -624) and consolidated net income to T€ -825 (previous year: T€ -399), corresponding to earnings per share of € -0.14 (previous year: € -0.07).

Outlook

The market environment of the Hoenle Group remains characterized by increased uncertainty. Geopolitical tensions and a restrained propensity to invest in individual customer segments, such as mechanical engineering, are influencing visibility. Against this backdrop, the Management Board continues to expect a moderate increase in revenue to between EUR 95 million and EUR 105 million for the 2025/2026 financial year, with essentially stable macroeconomic conditions. The Hoenle Group's operating profit before depreciation and amortization (EBITDA) is expected to be in the range of EUR 6 million to EUR 9 million. At the lower end of the corridor, a scenario with continued subdued demand is reflected, while the upper end of the corridor assumes a noticeable revival of project activity. This forecast (as of 08.12.2025) is based in particular on the assumption that there will be no significant escalation of the geopolitical situation and that the internally planned measures to reduce costs, increase efficiency and implement projects will be implemented as planned. If these assumptions change materially, the Management Board will review the forecast and, if necessary, adjust it.

Adhesive Systems Business Unit

The Hoenle Group is consistently expanding its range of high-tech adhesives for demanding industrial applications in the strategic focus areas of electronics, medical and optics, increasingly focusing on UV-curing adhesives and optimised UV curing technologies. These enable lower heat inputs and faster processing. In close cooperation with customers, numerous projects are currently being implemented in which tailor-made solutions for specific applications are created. Initiatives for new customer business with OEMs in the medical and electronics application fields achieve increasing visibility with concrete project discussions.

The Management Board expects significantly higher sales in the coming years, especially in North America and Asia. In addition to this expected growth, internal process optimizations and a continuous streamlining of the product range are also expected to contribute to a sustainable improvement in earnings.

Curing Business Unit

The Curing business unit bundles drying systems for the printing industry, especially for packaging printing, for coatings on two- and three-dimensional objects, and for technical films and labels. Increasing quality requirements for coatings and high production speeds offer ideal fields of application for UV and UV LED systems. These technologies offer clear advantages in many production processes in terms of speed, efficiency and process reliability. Despite these advantages of UV technology, Hoenle felt the reluctance to invest in mechanical and plant engineering in the Curing business unit in the current financial year. The German Engineering Federation (VDMA) assumes that the economic trough was passed in 2025 and that there will be a revival in 2026. The implementation of sales-promoting projects in the area of After-Sales & Lifecycle Solutions is expected to contribute to a revival in the second half of the financial year.

Based on innovation projects, the expansion of the after-sales business and strict cost management, the Management Board expects higher sales and earnings contributions in the Curing business unit in the coming years.

Business Unit Disinfection

UV-based disinfection is considered a reliable, efficient and environmentally friendly technology. The Disinfection Business Unit comprises systems for the disinfection of water, surfaces and air. In these areas, Hoenle supplies leading manufacturers of water treatment systems with lamps and components. In addition, the company offers solutions for disinfection in the food industry as well as air purifiers for industrial applications. Hoenle has continuously expanded its range of services in recent years and now offers a fully integrated portfolio for environmentally friendly disinfection processes. This includes low- and medium-pressure lamps, LEDs, pulsed UV light as well as complete systems and microbiological services for quality control. In addition to established applications, new fields of application are constantly being developed. For example, the qualification of components for ultrapure water treatment in the semiconductor industry is progressing according to plan and led to the first significant sales in the last fiscal year. Other customers from this segment have signalled their interest in cooperation projects. Demand is also developing positively in the food industry, where both the various disinfection solutions and the regular quality control using bioindicators are attracting great interest.

The Management Board assumes that sales will continue to increase in the coming years, both in existing markets and in new fields of application, and that additional growth impulses will come from Asia and North America.

The complete half-year report is published on the website of Hoenle AG at https://www.hoenle.com/investors/publications/.

About Hoenle

The Hoenle AG is a listed technology company based in Gilching. The Hoenle Group develops innovative solutions with a focus on UV technology for a wide range of industrial applications with its 600 employees. A business unit includes the development and sale of industrial adhesives and adhesive curing devices. The company also produces drying systems for the printing and coating industry. Another business area deals with the environmentally friendly disinfection of water, air and surfaces. The Hoenle Group supplies technology and global market leaders worldwide and is represented in over 20 countries with its own companies and partner companies.

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Emitter:	Hoenle AG Nicolaus-Otto-Str. 2 82205 Gilching Germany
Contact Person:	Peter Weinert
Phone:	+49 8105 2083 173
E-Mail:	peter.weinert@hoenle.com
Website:	www.hoenle.com
ISIN(s):	DE0005157101 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Dusseldorf, Hamburg, Hannover, Munich, Stuttgart, Tradegate BSX