Dr. Hönle AG: Business activity picks up in the second quarter

Gilching (pta012/08.05.2025/08:30 UTC+2)

• Hönle Group increases revenue from €21.4 million in the first quarter to €25.8 million in the second quarter
• Discontinuation of unprofitable product lines and initiated cost-cutting measures are showing results
• EBITDA increases from €2.6 million to €3.0 million in the first half of the financial year
• Management Board confirms outlook for the 2024/25 financial year

In the first half of the 2024/25 fiscal year, sales revenues amounted to T€ 47,168, down 2.0% from the previous year, in a market environment characterised by weak domestic demand. As forecasted, business activity picked up in the second quarter of the current fiscal year. After sales of T€ 21,411 in the first quarter, sales increased significantly to T€ 25,757 in the second quarter. The cost-cutting measures implemented, and the discontinuation of unprofitable product lines led to an improvement in results despite the lower sales level. Operating profit before depreciation and amortization (EBITDA) improved from T€ 2,647 in the previous year to T€ 3,022 in the first six months of the 2024/25 fiscal year. The operating result (EBIT) increased from T€ -113 to T€ 274 in the same period. The operating result improved from T€ -357 in the first quarter to T€ 631 in the second quarter of the current financial year.

Outlook

Business activity picked up in the second quarter. The Management Board assumes that, despite economic and policy uncertainties, the willingness to invest will remain at its current level and, in conjunction with the measures initiated to improve profitability and the focus of market activities, will lead to higher demand and increasing order intake for the Hönle Group. Overall, the Management Board continues to expect sales of between €95 million and €105 million for the Hönle Group in the 2024/25 financial year (previous year: €98.7 million). Due to the cost control measures initiated, it also expects operating earnings before depreciation and amortization (EBITDA) to be significantly higher than the adjusted EBITDA result of the previous year (€5.5 million).

Curing Business Unit

The Curing Business Unit has defined packaging printing, coating on two- and three-dimensional objects, technical films, and labels as strategic focus areas. The Hönle Group sees good opportunities in these application areas to contribute its technical expertise and problem-solving skills and to continue growing in the coming years. Increased demands on print quality, for example in packaging printing, or high requirements for functional surface coatings in many industrial applications offer good growth opportunities. Hönle has achieved a strategic win with a leading printing press manufacturer. The customer has been purchasing drying units from Hönle since the beginning of 2025, which is expected to result in recurring annual sales in the low seven-digit euro range. In close coordination with key customers and their requirements, the Hönle Group is investing in modern and modular curing solutions. In addition to the use of UV lamps and IR units, a special focus is on the development of high-performance solutions with UV LEDs, which enable customers to accelerate processes while simultaneously reducing electricity and consumption costs. With the innovative, high-precision UV dose measurement, Hönle also offers its customers optimized process control. The new measurement system was launched on the market in February 2025 under the name UV Scan MACS. To increase profitable after-sales revenue, Hönle has established a comprehensive Life Cycle Solutions organization. The Management Board expects positive earnings contributions from the Curing Business Unit in the coming years with increasing revenue.

Adhesive Systems Business Unit

Hönle has bundled UV-curing adhesives and the corresponding UV curing devices in the newly created Adhesive Systems Business Unit. This enables it to offer customized solutions for industrial manufacturing processes that meet all requirements for application-specific joining technology. UV-curing adhesives, in particular, have the additional advantage of low heat input and rapid drying, which enables faster cycle times in the production process. Hönle recently launched a new type of optics for its LED curing systems that focuses the light into a linear beam, allowing adhesives to cure with significantly higher intensity and thus further reducing process times. Not least through the targeted expansion of its regional presence in East Asia and North America, Hönle is currently working on promising projects in the areas of automotive electronics, consumer electronics and wearables, as well as medical implants. Overall, the Management Board expects significantly increased sales and earnings in the Adhesive Systems Business Unit in the coming years.

Disinfection Business Unit

The Disinfection Business Unit combines systems for the disinfection of water, surfaces, and air using ultraviolet radiation. The focus is on ballast water in container ships, process water, and drinking and wastewater. Hönle supplies leading manufacturers of water treatment systems with lamps and components. Furthermore, disinfection solutions are offered for the food industry, with the Hönle Group covering the entire performance range for the disinfection process with pulsed UV light, low-pressure lamps, medium-pressure lamps, and LEDs. This unique product range, including microbiological analyses for quality assurance, is receiving a broad response from the industry. New fields of application for ultraviolet radiation are currently emerging, among others, in the pharmaceutical industry and the semiconductor industry for the treatment of ultrapure water. Hönle has now successfully completed the qualification of components for ultrapure water for three customers and has achieved initial sales with a new customer from the semiconductor industry for the UV treatment of ultrapure water. Disinfection using ultraviolet radiation is reliable, efficient, and environmentally friendly and is therefore increasingly being used as the method of choice. Overall, the Management Board expects increasing sales and earnings for the Hönle Group in the Disinfection BU in the coming years due to growing demand in existing markets and new application areas.

The 2024/25 complete Half-Year Report will be published on May 8, 2025 and then can be viewed online at https://www.hoenle.com/investor-relation/financial-information#reports.

About Hönle

The Dr. Hönle AG is a listed technology company based in Gilching. The Hönle 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 curing systems for the printing and coating industry. Another business area deals with the environmentally friendly disinfection of water, air and surfaces. The Hönle 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:	Dr. Hönle AG Nicolaus-Otto-Str. 2 82205 Gilching Germany
Contact Person:	Peter Weinert
Phone:	+49 8105 2083 173
E-Mail:	peter.weinert@hoenle.de
Website:	www.hoenle.de
ISIN(s):	DE0005157101 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Hannover, Munich, Stuttgart, Tradegate