Hoenle AG: Revenues of EUR 21.5 million in Q1 at the previous year's level

Gilching (pta009/24.02.2026/08:10 UTC+1)

• Hoenle Group starts with sales of EUR 21.5 million (+0,3%) in the first quarter of the financial year 2025/26
• Weakness in mechanical and plant engineering impacts business development of the Curing Business Unit
• Strong business development with water disinfection systems leads to increasing sales and earnings contributions in the Disinfection Business Unit
• Based on innovation projects, the expansion of the after-sales business and strict cost management, a significant business recovery and improvement in earnings is expected in the second half of the financial year
• Management Board confirms guidance for financial year 2025/26

In the usual weaker first quarter of the financial year, there was a sustained reluctance on many customers to invest, especially in the Curing Business Unit (BU). However, the Adhesive Systems and Disinfection BUs were able to compensate for the decline in sales in the Curing BU, so that the Hoenle Group's sales revenues in the period from October to December 2025 were at the previous year's level of T€ 21,475 (previous year: T€ 21,411).

The cost of materials ratio increased slightly from 37.3% to 37.8%. Gross profit rose slightly to T€ 14,399 (previous year: T€ 14,271). At T€ 10,047, personnel expenses were slightly below the figure of T€ 10,074 in the same period of the previous year. Currency differences as well as marketing and IT expenses temporarily contributed to an increase in other operating expenses. Other operating expenses increased by 19.4% to T€ 3,782.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to T€ 525 (previous year: T€ 1,025). After depreciation and amortisation, the operating result (EBIT) was at T€ -809 (previous year: T€ -357) and net income after interest and taxes of T€ -1,547 (previous year: T€ -578), which corresponds to earnings per share of € -0.25 (previous year: € -0.10).

Outlook

The market environment of the Hoenle Group remains characterised by increased uncertainty. Geopolitical tensions as well as a restrained propensity to invest in individual customer segments influence visibility.

Against this backdrop, the Management Board expects a moderate increase in revenue to between EUR 95 million and EUR 105 million for the 2025/2026 financial year, with an essentially stable macroeconomic environment. The Hoenle Group's operating profit before depreciation and amortisation (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 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 project realisation 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 offers a comprehensive portfolio of high-tech adhesives for demanding industrial applications. In the Adhesive Systems business unit, UV-curing adhesives are bundled with the appropriate UV curing devices, so that customer-specific solutions can be developed that meet all the requirements of modern joining technology. In addition, the products address additional functional requirements, such as electrical contacting, heat dissipation, structural stabilisation and the protection of sensitive components.

Hoenle is consistently expanding its offering in the strategic focus areas of Electronics, Medical and Optics, focusing increasingly on UV-curing adhesives and optimised UV-curing technologies. These enable lower heat input and faster processing processes. In close cooperation with customers, numerous projects are currently being implemented in which tailor-made solutions for specific applications are created.

Despite the current restraint in the automotive sector, 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 optimisations 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 all Curing systems for the printing industry, especially for packaging printing, for coatings on two- and three-dimensional objects, and for technical films and labels. Hoenle sees attractive growth potential in numerous industrial applications that place high demands on functional surface coatings. Increasing quality requirements in printing as well as the growing need for integrated process control are leading to an increasing demand for UV, UV-LED and IR systems. These technologies offer clear advantages in many production processes in terms of speed, efficiency, reproducibility and process reliability.

Despite the systemic advantages of UV technology, Hoenle felt the reluctance to invest in mechanical and plant engineering in the Curing business unit in the first quarter of the current fiscal year. Experts, such as the VDMA, assume that the trough has been passed and that there will be a slight revival in the course of the year. The implementation of sales-promoting projects in the area of After-Sales & Lifecycle Solutions is expected to contribute to rising sales in the course of 2026, supported by economic tailwinds.

Based on innovation projects, the further development of process solutions, the expansion of the after-sales business, as well as strict cost management and continuous earnings optimisation in product management, the Executive Board expects higher sales and earnings contributions in the Curing business unit in the coming years.

Disinfection Business Unit

The Disinfection Business Unit comprises all systems for UV-based disinfection of water, surfaces and air. The main fields of application are the treatment of ballast water on container ships and the treatment of process, drinking water and wastewater. 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 disinfection processes. This includes systems, components, low- and medium-pressure lamps, LEDs, pulsed UV light and microbiological services. 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 first significant sales in the last fiscal year. Other customers from this segment have already signalled their interest in future 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.

UV-based disinfection is considered a reliable, efficient and environmentally friendly technology. The Management Board assumes that it will continue to gain in importance 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 quarterly statement is published on the Hoenle AG website 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.de
Website:	www.hoenle.de
ISIN(s):	DE0005157101 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Dusseldorf, Hamburg, Hannover, Munich, Stuttgart, Tradegate BSX