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Bite Stream and Untap Join Forces to Transform Private Capital Markets Technology

Bite Stream and Untap have merged to create Bite Stream+, a next-generation platform that simplifies fund management from start to finish. By bringing together expertise in fundraising, investor management, and portfolio reporting, the partnership delivers a smarter, more efficient way for asset managers to operate, removing complexity and enhancing transparency.

London, United Kingdom – Newsfile Corp. – February 12, 2025 – Bite Stream, a leading provider of fundraising and investor management software, has announced its merger with Untap, an AI-powered portfolio management and reporting solution. The combination of these two established, fast-growing platforms marks a major shift in private capital markets technology. It provides asset managers with a single, fully integrated system that streamlines everything from fundraising to investor communications.

The result is Bite Stream+, a solution that consolidates multiple processes into one intuitive system, eliminating the inefficiencies of disconnected workflows. With Untap’s advanced portfolio monitoring and reporting now embedded alongside Bite Stream’s investor relations and compliance tools, fund managers gain a single source of truth, making data-driven decision-making easier than ever.

A new era for private markets technology

Rather than juggling multiple platforms, alternative asset managers can now manage fundraising, investor relations, and portfolio management in one flexible system. This not only saves time but also ensures data consistency and strengthens regulatory compliance. Investors also benefit from real-time insights and clearer reporting, enhancing transparency and trust.

The platform is designed to be both powerful and adaptable – ready to support firms of all sizes without requiring complex customization. With automated data collection and performance tracking, Bite Stream+ replaces manual, error-prone processes, allowing fund managers to focus on value creation rather than administrative tasks.

“Bite Stream+ is more than a software merger – it’s a commitment to our clients that we are their trusted innovation partner,” said William Rudebeck, Co-Founder and Co-Chairman of Bite Investments. “By integrating Untap’s portfolio management expertise with Bite Stream’s investor engagement tools, we are delivering a seamless, end-to-end digital experience that no other provider in the market can match.”

Setting the industry standard

Bite Stream+ is already the preferred platform for some of the largest and most dynamic private market investors. The combination of Bite Stream’s fundraising and investor engagement tools with Untap’s portfolio analytics and reporting enables fund managers to drive AUM growth, enhance investor confidence, and gain deeper portfolio insights.

“This merger is more than just a step forward-it’s a transformation in how fund managers operate,” said Juan Manrique, Co-Founder and CEO of Untap. “Together, we’re giving our clients a competitive edge by removing complexity, improving efficiency, and setting a new benchmark for digital fund management.”

For more information, visit www.biteinvestments.com and www.untap.pe.

About Bite Investments: Bite Investments is a global financial technology company providing innovative and scalable software solutions to the ever-expanding alternative asset and wealth management industry. Bite’s SaaS platform, Bite Stream, offers end-to-end solutions designed to simplify and streamline the entire investment process, from fundraising and investor relations to reporting and data management. With a commitment to security and efficiency, Bite Investments is trusted by its clients, leading alternative asset and wealth managers, fund administrators, and a range of other investment professionals worldwide.

About Untap: Untap is an AI-powered portfolio management platform transforming how private capital investors monitor performance, manage funds, and drive value creation. Its cloud-based solution automates data collection, financial reporting, and ESG tracking, enabling investment professionals to streamline operations, enhance transparency, and make data-driven decisions with greater accuracy and efficiency. Supporting private equity, real estate, infrastructure, and private credit funds, Untap is trusted by leading investment firms worldwide.

Press contacts:
Margarita Kouklaki Ntourou, Communications Manager
margarita.kouklakintourou@biteinvestments.com
Bite Investments

Andreia Miranda, Business Development and Marketing Executive
andreia@untap.pe
Untap

The issuer is solely responsible for the content of this announcement.

From academic pursuits to inspiring young scholars–Internationally renowned mathematician Prof Raymond Chan says “No shortcuts to good results”

HONG KONG, Feb. 12, 2025 /PRNewswire/ — Today (12 February), in the second session of the “A Personal Perspective on Doing Good Research” seminar series organised by the School of Graduate Studies of Lingnan University, Prof Raymond Chan Hon-fu, Vice-President (Academics) cum Provost and Lam Man Tsan Chair Professor of Scientific Computing at Lingnan University, gave a talk entitled “Research Methodology—A Computational Mathematician’s Perspective”, attended by about 100 teachers and students.

Prof Raymond Chan Hon-fu leads the second seminar in the “A Personal Perspective on Doing Good Research” series to encourage young scholars.
Prof Raymond Chan Hon-fu leads the second seminar in the “A Personal Perspective on Doing Good Research” series to encourage young scholars.

An internationally known and respected Hong Kong-born and bred mathematician, Prof Chan has an outstanding reputation in the mathematics community, having published some 160 journal articles and three books on mathematics. He has been one of Stanford University’s World’s Top 2% Scientists since 2019 and been ranked second in Hong Kong in both career-long citation impact and single-year citation impact in 2023. One of the most widely cited scientists, famous for his academic research, Prof Chan’s “Superfast Iterative Solvers for Toeplitz Systems and their Applications” is a groundbreaking algorithm that dramatically accelerates the efficiency of processing image noise. It has been successfully applied in the fields of astronomical and medical imaging and improves the clarity of images captured by telescopes and medical devices.

Prof Chan said that in recent years he has been working with a European team for the European Southern Observatory to develop algorithms to help deblur images obtained from its telescopes, and thereby capture better photographs of more distant and fainter stars, as well as with a US team to develop algorithms to help monitor land surface changes that detect illegal mining in the Peruvian Amazon rainforests.

Prof Chan, who has made important contributions to the international field of mathematical sciences, emphasised that groundbreaking innovations are not achieved by chance, and quoted Thomas Alva Edison’s “Genius is 1% inspiration and 99% perspiration” and Albert Einstein’s “It’s not that I’m so smart; it’s just that I stay with problems longer” to encourage young scholars. “Success requires hard work,” Prof Chan underlined.

Prof Chan suggested three key research methodologies, Down There, which emphasises in-depth understanding; Out There, which encourages broad exploration and receptiveness to new ideas; and Up There, which highlights the competitive nature of research and the importance of perseverance. “Attitude determines altitude, so aim high, and you will never land low. I hope that young scholars will take an active role in their own research journeys, see challenges and failures as part of the learning process, and maintain their curiosity and inquisitiveness so as to be able to make meaningful contributions to the field they specialise in,” he said.

Following the presentation, the audience participated in a lively discussion with Prof Chan on key issues such as the application of computational methods in interdisciplinary research, strategies for conducting research in unfamiliar areas, and the future development of the mathematics profession, etc. The atmosphere was dynamic as Prof Chan’s insights encouraged in-depth exchanges with the audience and stimulated serious, creative thinking, enriching the interaction and dialogue among academics.

“Prof Chan’s talk was useful for my PhD training and future development. His concepts are based on his own established academic and administrative expertise in higher education, and are valuable for postgraduate students planning to build a scholarly career. As an international PhD student at Lingnan University, I believe it is important to correctly understand and follow Prof Chan’s expert and constructive advice about staying open to new ideas and cultures, persevering, remaining curious and enquiring, adapting to change, learning to put myself forward through clear writing and presentations, and always aiming high both in scholarship and life,” Mr Everardo Blanco Livera, a PhD student, said.

The monthly “A Personal Perspective on Doing Good Research” seminar series invites senior university management and prominent scholars to discuss their research experiences and perspectives, with the aim of providing a platform for in-depth exchanges between doctoral students, young scholars and top academics on how to conduct excellent research.

The next seminar will be held on 6 March, and presented by Prof Xin Yao, Vice-President (Research and Innovation) and Tong Tin Sun Chair Professor of Machine Learning at Lingnan University, who will speak on “Good Taste in Research”, offering his insights on cultivating taste in research, and his experiences in areas such as academic literature and problem formulation.

For further information on upcoming seminars, please visit: A Personal Perspective on Doing Good Research Seminar Series.

KuCoin’s KCS to Be Listed on HashKey Global – Expanding Accessibility and Elevating User Engagement

VICTORIA, Seychelles, Feb. 12, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce a significant milestone in its ongoing global expansion efforts with the listing of its native token, KuCoin Token (KCS), on HashKey Global, a renowned digital asset exchange offering digital asset trading services to global users. This strategic move is set for February 14, 2025, at 08:00 UTC, with deposits and withdrawals opening concurrently on February 12, 2025, at 08:00 UTC.

Key Details of the Listing:

  • Announcement Date: February 12, 2025, 08:00 UTC
  • Deposit and Withdrawal Opening: February 12, 2025, 08:00 UTC
  • Listing Date: February 14, 2025, 08:00 UTC

This partnership highlights KuCoin’s proactive approach to making its native token more available and useful across a broader audience, reinforcing the accessibility, utility, and liquidity of KCS. It is a testament to KuCoin’s dedication to enhancing user engagement through strategic listings and community-focused initiatives.

KuCoin believes that this new listing opportunity will provide both KuCoin and HashKey users with enhanced options for engagement and investment in the crypto space. It is a step forward in KuCoin’s mission to facilitate the widespread adoption of crypto, providing users with secure and reliable platforms that foster trust and growth in the digital economy.

KuCoin looks forward to a fruitful collaboration with HashKey Global and to continuing its mission to become a bridge that connects users to the future of finance.

About KuCoin 

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 39 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots.

KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.

Learn more: https://www.kucoin.com/ 

NaaS Technology Inc. to Participate in Upcoming Investor Conferences in February 2025

BEIJING, Feb. 12, 2025 /PRNewswire/ — NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), the first U.S.-listed EV charging service company in China, today announced that management will participate in the following upcoming investor conferences in February 2025:

  • Event: Zheshang Securities 2025 Q1 Institutional Investment Conference
    Date: February 13, 2025
    Place: Shenzhen, China
    Organizer: Zheshang Securities
  • Event: Founder Securities 2025 Listed Companies Investor Forum – “Walking with the Spring Breeze, Embarking on a New Journey”
    Date: February 20, 2025
    Place: Shenzhen, China
    Organizer: Founder Securities

Connect with NaaS Management

For more information or to schedule a one-on-one meeting with NaaS management, please contact your event representative or NaaS investor relations team via email at ir@enaas.com

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop solutions to energy asset owners comprising charging services, energy solutions and new initiatives, supporting every stage of energy assets’ lifecycle and facilitating energy transition.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS’ goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China’s EV charging industry and EV charging service industry and NaaS’ future business development; demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS’ operation, fluctuations of the RMB exchange rate, and NaaS’ ability to obtain adequate financing for its planned capital expenditure requirements; NaaS’ relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the SEC.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com 

Media inquiries:
E-mail: pr@enaas.com

The Apurva Kempinski Bali Unveils 2025 Annual Campaign: Powerful Indonesia to the World

Bridging Heritage and Global Influence Through Culture, Wellness, Gastronomy, and Sustainability.

BALI, Indonesia, Feb. 12, 2025 /PRNewswire/ — The Apurva Kempinski Bali is taking its commitment to celebrating Indonesia’s rich cultural heritage to the next chapter with its 2025 campaign, Powerful Indonesia to the World. For the past five years, this iconic resort has been a beacon of Indonesian culture, cuisine, biodiversity, music, dance, and craftsmanship. This year, it’s diving even deeper, bringing these traditions to life through immersive guest experiences that embrace the current and emerging trends in Cultural Encounters, Wellness, Dining Excellence, and Sustainability, blending authenticity with a global appeal.

The Apurva Kempinski Bali Unveils 2025 Annual Campaign: Powerful Indonesia to the World
The Apurva Kempinski Bali Unveils 2025 Annual Campaign: Powerful Indonesia to the World

Delving into the Diversity of Indonesia

From the moment guests arrive, they embark on a journey that showcases Indonesia’s rich culture and traditions. The resort’s majestic architecture and design reflect Indonesia’s natural landscape, aesthetics, heritage, and craftsmanship, seamlessly blending tradition with modern sophistication. The cascading structure flows through lush landscapes with a network of waterways and shimmering pools – creating a setting that embodies the natural beauty of Indonesia.

Beyond its striking exterior, guest experiences are thoughtfully curated with bi-monthly themes that explore Indonesia’s seven main regions: Sumatra, Nusa Tenggara, Java, Kalimantan, Sulawesi, Maluku, and Papua. This journey is brought to life through arrival rituals, indigenous cuisine, mystical storytelling, traditional games, and artisanal craftsmanship, offering guests truly immersive and enriching encounters.

Holistic Wellness at Apurva Spa

The 2025 Wellness Program at Apurva Spa introduces a transformative and immersive approach to well-being, integrating science-backed longevity practices with Indonesia’s ancestral healing traditions. This year’s highlights include Agra Shala Healing, a holistic therapy designed to restore balance and energy flow, and Neurobic Training, a cognitive and physical wellness method aimed at enhancing longevity and mental clarity.

Signature programs such as Awakening the Chakra Spirit, featuring the sacred Balinese Melukat purification ritual, continue to offer deep spiritual renewal. Additionally, guests can experience Sound Healing Meditation, Numerology, and Reformer Pilates, ensuring a multidimensional journey tailored to modern wellness seekers.

Guided by an award-winning team of wellness experts and therapists, Apurva Spa’s 2025 Wellness Program redefines holistic well-being, making it an essential destination for those seeking deep healing and renewal.

Celebration of Culinary Arts

As Bali’s premier dining destination, this award-winning resort continues to redefine culinary excellence with its 2025 Culinary Program, introducing exciting collaborations, bold flavours, and immersive dining experiences.

This year, the resort continues to organise cross-cultural culinary exchanges, welcoming renowned international chefs to collaborate with its award-winning team. These initiatives bring unique dining experiences while fostering mentorship and skill-sharing, inspiring the resort’s young culinary talents.

A key highlight of 2025 is the elevated positioning of Koral, Bali’s first aquarium dining experience. With the arrival of Michelin-starred Chef Jean Baptiste Natali, Koral introduces a refined new menu that brings a fresh perspective to its culinary storytelling. This latest evolution integrates innovative techniques and carefully sourced ingredients, introducing a new aspect of ethical sourcing while maintaining the restaurant’s signature immersive dining concept.

Enhancing the experience further, the 2025 beverage program presents innovative mixology, where expert bartenders craft signature cocktails infused with rare Indonesian ingredients and reimagined classics. From vibrant tropical infusions to sophisticated artisanal blends, every sip is designed to celebrate Indonesia’s diverse flavours.

With storytelling at the heart of every dish and drink, The Apurva Kempinski Bali’s 2025 Culinary Program invites guests on an unforgettable gastronomic journey, where tradition meets contemporary creativity in every bite.

ESG Commitment: Elevating Sustainability

With a holistic approach to sustainability, The Apurva Kempinski Bali integrates cultural preservation, environmental stewardship, and community empowerment into its guest experiences and operations. Recognised as Indonesia’s first GSTC-certified hotel, the resort has also achieved EarthCheck 2nd Silver certification and was named ‘Best Sustainable Hotel’ at the Ultimate Luxury Travel Related Awards (ULTRAs) in London in 2024.

Looking ahead, The Apurva Kempinski Bali envisions achieving carbon neutrality by 2030, reinforcing its commitment to responsible tourism and environmental conservation. In 2025, the resort continues its long-term sustainability initiatives, focusing on decarbonisation efforts, responsible sourcing, and regenerative programs. The commitment extends to cultural preservation through curated guest experiences, collaborations with local artisans, and community-driven initiatives. Sustainable practices are embedded in every aspect of the resort, from minimising environmental impact to supporting ethical business practices.

The decarbonisation program remains a key priority, with initiatives such as mangrove restoration, carbon footprint tracking, and green mobility solutions. The resort also fosters local economic growth by sourcing from Indonesian producers, supporting regenerative farming, and promoting fair trade principles.

Through ongoing collaborations with like-minded partners, guests, and communities, The Apurva Kempinski Bali continues to contribute to Indonesia’s cultural and environmental sustainability while fostering a valuable business ecosystem that drives long-term economic growth, responsible operations, and meaningful engagement with local communities – ensuring a lasting impact for future generations.

“At The Apurva Kempinski Bali, we are dedicated to bringing Indonesia’s rich heritage to life in a way that is immersive, meaningful, and forward-thinking. With ‘Powerful Indonesia to the World,’ we are beyond merely showcasing Indonesia’s rich heritage, we are inviting the world to experience it first-hand. From our culinary journeys to our wellness programs and cultural collaborations, every element is designed to honour the past, celebrate the present, and inspire the future.” – shared Vincent Guironnet, General Manager at The Apurva Kempinski Bali.

Explore more about The Apurva Kempinski Bali and its Powerful Indonesia to the World programme.

About The Apurva Kempinski Bali: Standing atop the majestic cliff of Nusa Dua, with breathtaking views of the Indian Ocean and a tropical garden, The Apurva Kempinski Bali offers the epitome of beachfront luxury. This five-star resort in Bali presents itself as a majestic open-air theatre, an embodiment of Indonesian elegance. A collection of 465 iconic rooms, suites and villas are showcased, with 60% of the accommodation featuring its own private plunge pools. From a unique culinary journey and indigenous spa treatments to spacious meeting rooms and alluring chapels, The Apurva Kempinski Bali is a spectacular stage where curated experiences are brought to life. kempinski.com/bali

About Kempinski: Created in 1897, Kempinski Hotels is Europe’s oldest luxury hotel group. Kempinski’s rich heritage of impeccable personal service and superb hospitality is complemented by the exclusivity and individuality of its properties. Today, the Kempinski Group operates 78 hotels and residences in 32 countries and currently has more than 39 prestigious projects under development around the globe. Each five-star hotel reflects the strength and success of the Kempinski brand without losing sight of its heritage; each one imbues the quality guests have come to expect from Kempinski while embracing the cultural traditions of its location. The portfolio comprises historic landmark properties, award-winning urban lifestyle hotels, outstanding resorts and prestigious residences. Kempinski is a founding member of the Global Hotel Alliance (GHA), the world’s largest alliance of independent hotel brands. kempinski.com • www.ghadiscovery.com

Announcing the Winners of the F&L Asia Awards 2025

BALI, Indonesia, Feb. 12, 2025 /PRNewswire/ — F&L Asia Ltd. is pleased to announce the winners of the F&L Asia Awards 2025, recognizing exceptional achievements and contributions within the fuels and lubricants industry. This year’s awards celebrate individuals and products that embody innovation, leadership, and sustainability in line with the industry’s evolving demands.

Award Winners

Person of the Year

  • Eugene Ng, General Manager of Sales & Marketing, Chevron Oronite Asia Pacific Region, for driving growth and fostering talent development in the industry.
  • Dr. Ping Zhu, Vice President of Additives Global Transformation, Lubrizol Corporation, for advancing lubricant technologies and championing sustainable solutions.

Product Development of the Year

  • Pertamina Fastron Platinum Racing SAE 10W-60, for setting new benchmarks in motorsport lubrication with its exceptional performance and strategic partnership with Lamborghini Squadra Corse.
Lifetime Achievement Award
  • Dato’ Hazimah Zainuddin, Founder and Group Executive Chairman, Hyrax Oil Sdn Bhd, for her pioneering contributions to the lubricants industry.

Join Us to Celebrate Excellence at the F&L Asia Awards Gala Dinner

The awards will be presented during the F&L Asia Awards Gala Dinner, the highlight of F+L Week 2025, on March 14, 2025, at The Laguna, a Luxury Collection Resort & Spa, Nusa Dua, Bali, Indonesia. This exclusive evening will bring together industry leaders, innovators, and decision-makers to celebrate 30 years of F+L Week, under the theme: “Energizing Tomorrow: Pioneering Sustainable Solutions.”

An Unforgettable Evening of Recognition, Networking, and Cultural Experience

The night will begin with an exclusive Cocktail Reception at 7:30 PM, proudly sponsored by LANXESS, setting the stage for meaningful conversations and valuable industry connections.

This will be followed by an exquisite Balinese-themed Gala Dinner, proudly sponsored by Lubrizol, featuring live food stations, cooking demonstrations, and a showcase of Balinese culinary traditions.

The entertainment, sponsored by Pertamina Lubricants, will captivate conference participants with an authentic Balinese cultural performance, celebrating the rich heritage of the region while reinforcing the spirit of innovation and excellence that the awards embody.

Why Attend the Gala Dinner?

  • Celebrate Excellence: Honor the achievements of trailblazers shaping the industry’s future.
  • Network with Influencers: Connect with key executives and innovators in a world-class setting.
  • Shape the Industry’s Future: Gain insights into emerging trends and technologies.

Don’t miss this memorable evening of recognition and connection. Secure your seat today and be part of the celebration that honors the best in the industry.

Register Now!

Be part of the F&L Asia Awards Gala Dinner and the full F+L Week 2025 conference on March 13-14, 2025.

Laos to Receive AI Sensors for Nationwide Air Quality Monitoring

Laos to Receive AI Sensors for Nationwide Air Quality Monitoring
© UNICEF Laos/2024/KPhiennachit

A public school in Vientiane Capital is the first of 150 schools across Laos to install an AI-supported air quality sensor, marking a major step toward real-time monitoring of harmful air pollutants. 

HEIDELBERG sees clear increase in profitability in third quarter of financial year 2024/2025

  • Q3 sales at previous year’s level and adjusted EBITDA margin improves significantly to 9.2 percent
  • Incoming orders up 8.3 percent for Q3 and 7.7 percent after nine months compared with previous year
  • High order backlog points to strong final quarter
  • Full-year forecast confirmed, adjusted EBITDA margin to rise to up to around 8 percent in FY 2025/2026
  • Packaging remains a growth driver
  • Growth strategy promises sales potential of over € 300 million in medium term

HEIDELBERG, GERMANY – Newsaktuell – 12 February 2025 – At Heidelberger Druckmaschinen AG (HEIDELBERG), key figures for the first nine months of financial year 2024/2025 (April 1 to December 31, 2024) and the third quarter (October 1 to December 31, 2024) were in line with the expected developments communicated by the company. Especially in terms of the key operating results, the third quarter of the current financial year brought significant improvements compared with the first half-year and also with the equivalent quarter of the previous year. The adjusted EBITDA margin for the third quarter was 9.2 percent (equivalent quarter of previous year: 5.7 percent), with high capacity utilization and intensified cost-cutting measures having a particularly positive impact. Sales to date during financial year 2024/2025 have increased from quarter to quarter. The figure of € 594 million for the third quarter matched the equivalent quarter of the previous year (€ 594 million). In the third quarter, incoming orders were up by some 8.3 percent at € 550 million (equivalent quarter of previous year: € 508 million). This is much better than the current developments in the mechanical and plant engineering sector as a whole. The biggest contributions were made by the EMEA region (+ 16 percent) and the Packaging Solutions segment (+ 15 percent). The high order backlog of € 903 million paves the way for a very strong final quarter.

“We have succeeded in continuously improving our sales and operating result quarter by quarter in a difficult economic environment. Thanks to our high order backlog, we can confirm that we will achieve our targets for the year” said Jürgen Otto, CEO of HEIDELBERG. “And we will drive down costs further still in the coming year by implementing our plan for the future and boosting efficiency. This cost discipline will have a positive effect on our profitability, which should improve further in the next financial year.”

Based on strong order levels, the company anticipates a clear increase in sales in the fourth quarter of the current financial year in particular. Adjusted EBITDA after nine months amounted to € 86 million (adjusted figure for equivalent period of previous year: € 135 million), and the adjusted EBITDA margin was 5.7 percent (equivalent period of previous year: 8.0 percent). The main reasons for this were the low sales volume in the first quarter and the associated high losses. Adjusted EBITDA for the third quarter of the current financial year increased to € 55 million, compared with € 34 million in the equivalent quarter of the previous year. The adjusted EBITDA margin improved significantly, from 5.7 percent to 9.2 percent. In the third quarter, net provisions amounting to € 29 million were established for the planned measures to reduce labor costs and were adjusted. Including this item, EBITDA in Q3 totaled € 26 million (previous year: € 34 million). Establishing these provisions resulted in a lower net result after taxes of € -7 million in the third quarter (equivalent quarter of previous year: € 1 million) and € -42 million after nine months (equivalent period of previous year: € 34 million).

The free cash flow after nine months was, as anticipated, € -97 million (equivalent period of previous year: € -54 million). In the third quarter, it improved significantly compared with the previous year, creeping into positive figures at € 4 million (equivalent quarter of previous year: € -26 million). “Our successful management of net working capital played a key role in achieving a positive free cash flow despite high inventories due to the order situation,” said HEIDELBERG CFO Tania von der Goltz. “The big improvements we are expecting in the results for the final quarter and the reduction of inventories by the end of the financial year will have a positive impact on the free cash flow,” she added.

Packaging segment remains a growth driver

Incoming orders in the Packaging segment increased significantly – by around 11 percent to € 959 million for the first three quarters and by some 15 percent in the third quarter. In terms of megatrends, the packaging market is first and foremost seeing a growing demand for packaging that is both sustainable and of a high quality. This is where the positioning of HEIDELBERG as a systems integrator and total solution provider is having a positive impact, helping to further expand the company’s very strong position in the packaging market. “Packaging printing is the current growth sector for the printing industry, including HEIDELBERG. In particular, the product innovation around the Boardmaster for high-volume packaging printing meets customer needs,” said David Schmedding, Chief Technology & Sales Officer at HEIDELBERG. “We are looking to successively expand our business and our portfolio in this market by using automation, robotics, and software to offer our customers integrated end-to-end solutions for the entire manufacturing process,” he explained. In the Print segment, incoming orders for the nine-month period increased by 4.4 percent to € 858 million.

Growth strategy promises sales potential of over € 300 million in medium term

To expand its market position, HEIDELBERG is increasingly tapping into growth potential in its core market – from packaging and digital printing to software and lifecycle business. The first digital presses from the cooperation with Canon are going to customers in Switzerland and Germany. This cooperation will significantly boost future sales generated by digital print solutions, including consumables, software, and service. The company is also keen to further expand its portfolio in the growing market for green technologies. This includes key areas such as high-precision plant engineering, the automotive industry, charging infrastructure and software, and new hydrogen technologies. An initial prototype of a hydrogen electrolyzer will be completed in the summer and will be showcased as part of an in-house application. The objective is to carry out development work with customers, application and technology partners, and suppliers to create a market-ready system for producing hydrogen and make this available on an industrial scale. The medium-term goal of HEIDELBERG in the electromobility market is to use Amperfied to position itself as a leading system supplier of charging solutions for use at companies and in public spaces in Europe. The company is focusing on the operation of charging infrastructure, with the aim of ensuring maximum availability and reliability, as a service with stable recurring sales. This approach is confirmed by projects with Autobahn GmbH and companies at regional level, among others. Considering all strategic initiatives in the period to financial year 2028/2029, HEIDELBERG sees overall growth potential amounting to over € 300 million, in conjunction with enhanced performance and efficiency.

Full-year forecast confirmed, adjusted EBITDA margin to rise to up to around 8 percent in FY 2025/2026

Factoring in the expectations and prerequisites published and set out in the 2023/2024 Management Report, the company still anticipates that sales for financial year 2024/2025 will match the previous year’s level (previous year: € 2,395 million). The adjusted EBITDA margin is also expected to be at the previous year’s level (previous year: 7.2 percent). The high order backlog and the ongoing focus on margins and costs provide a sound basis for achieving the targets that have been set. The implementation of the plan for the future and the efficiency improvements are having a positive impact on the profitability of HEIDELBERG, with the adjusted EBITDA margin set to improve further to up to around 8 percent in the next financial year 2025/2026.

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.

Hashtag: #HEIDELBERG

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, HEIDELBERG as a total solution provider is driving further development in the core areas of packaging and digital printing, software solutions and the 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, automation technology and robotics as well as the growing green technologies. With a strong international presence in approximately 170 countries, the creative power and expertise of its around 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 well-positioned for future growth.

Figure 1: Smiles all round as Meinders & Elstermann becomes the first company in Germany to use a Jetfire 50 – from left to right: Dr. David Schmedding, Chief Technology & Sales Officer at HEIDELBERG, Jens Rauschen, CEO of Meinders & Elstermann, Stefan Kuper, Head of Sales Region North at HEIDELBERG, and Frank Kropp, Head of Research and Development at HEIDELBERG.

Image material and further information about the company are available in the portal and of Heidelberger Druckmaschinen AG at .

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.