University reimagines prospectus with new card approach
The university says the prospectus was designed in response to demand for authenticity and customisation among Gen-Z audiences
A range of companies in the print and packaging industries have released annual forecasts, pointing to a difficult economic environment and uncertain geopolitical conditions
A number of companies within the printing and packaging industries have recently released annual forecasts, pointing to a range of economic factors that have forestalled growth.
However, the overall suggested picture is one of ‘weathering the storm’, with companies taking only marginal losses, finding methods to adapt to the circumstances, and equip themselves for future growth.
A range of factors can be pointed to as reasons for economic uncertainty, both in the UK and globally.
On the world stage, the impacts of the ‘Trump tariffs’, first announced by the US government in April and then frequently revised since, have facilitated greater uncertainty in the global market.
The tariffs were added in an already volatile market, with existing trade tensions, rising interest rates, climate change, policy uncertainty, and the ongoing effects of the war in Ukraine all continuing to have an impact.
In the UK, cost of labour, rising energy prices, and inflation have all been pointed to as reasons for a drop in confidence and the potential for financial difficulties for businesses moving forward.
The British Printing Industries Federation’s (BPIF’s) recently released Q2 report of the printing and packaging industries has described confidence in the printing and packaging industries as being “precariously positioned”, with marginally negative order numbers below forecasted levels.
According to the BPIF, confidence levels in the industry are “not yet showing signs of rebounding,” with overall confidence “depressed [but] not destroyed.”
Despite this, a number of European companies in the sector have pointed towards methods of enduring this economically difficult period and find the pathway for future growth.
According to a recently released report, HEIDELBERG held its ground in a difficult market environment in the 2024/25 financial year and achieved the targets it had set itself.
Preliminary calculations forecast that the company’s adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin remained stable at 7.1%. While sales volume was slightly lower compared to the previous year, rising wage costs, and expenses for the 2024 drupa trade fair were reportedly offset by a number of cost-cutting and efficiency measures.
After a weak first quarter, which was attributed to a reluctance to buy in the run-up to drupa, HEDIELBERG’s sales increased quarter by quarter in the financial year, closing with a strong fourth quarter. Free cash flow excluding special items was positive at around €50m (£42m) for the period, with a rising order intake compared to the previous year.
HEIDELBERG’s adjusted EBITDA margin is expected to improve further, rising from 7.1% in 2024/25 to around 8% in 2025/26. This is due in part to a predicted positive order impetus expected from the recent China Print trade fair, which took place from May 15th to 19th.
The publication of the full audited financial figures for the 2024/25 financial year is scheduled for June 5th.
Jürgen Otto, chief executive officer of HEIDELBERG, says: "We were able to achieve our financial year targets in a difficult economic environment and uncertain geopolitical conditions.
"With a clearly positive free cash flow for the second year in a row, we have confirmed our financially solid development. The measures initiated to reduce personnel costs will help us to further strengthen our profitability in the new financial year."
Speciality papers and packaging manufacturer, Fedrigoni, has declared that it has shown growth and profitability, despite what it describes as “global uncertainty”.
Fedrigoni Group closed 2024 with adjusted proforma revenue of €2.076bn (£1.750bn), up 14.8% compared to 2023. The company predict that EBITDA has increased by 12.5% from €337.7m (£284.7) in 2023 to €380.0m (£320.3m) in 2024.
Among the key elements in Fedrigoni’s growth strategy is its global reach. Only 18% of its revenues in 2024 came from its native Italian market, with the remaining 82% divided between the rest of Europe (43.2%) and the rest of the world (38.8%). The latter reportedly increased by over 8% compared to the previous year, mainly thanks to Fedrigoni North America.
The company also pointed to its mergers and acquisitions as a key to its success, with four new deals completed in the last year which were aimed at expanding the product portfolio and strengthening its global presence.
Investments from Fedrigoni included the acquisition of a specialty paper plant in China, a minority stake in the connected solutions start-up, SharpEnd, the acquisition of some assets of speciality papers company, Mohawk, and the purchase of Poli-Tape, a producer of graphic materials for visual communication.
Marco Nespolo, chief executive officer of Fedrigoni Group, says: “2024 saw a good recovery in the first half of the year and renewed volatility in the second half, due to the combination of an unfavourable macroeconomic context and a slowdown in the final markets we serve, such as luxury and wine.
“Despite everything, we managed to carry out our strategic plan, safeguarding economic performance and expanding (organically and inorganically) our global presence, especially in North America, Latin America, and Asia Pacific.”
However, Nespolo goes on to highlight what he describes as weaker demand for speciality papers in the current market, adding: “The world of specialty papers, on the other hand, showed weak demand, mainly due to the dynamics present in the luxury market. In this context of high volatility, we are implementing countermeasures on volumes and cost structure to ensure some bottom-line growth.”
Printing press and technology manufacturer, Koenig & Bauer, has also cited ongoing global uncertainties in its recently released annual forecast.
Despite what it labels as “a persistently challenging market”, Koenig & Bauer’s order intake continued to grow for 2024/25 at €245.2m (£206.7m), slightly above the previous year (+0.9%).
Order backlog reportedly also reached its highest year-starting level in recent company history at €1,032.8m (£870.7m), which the company hopes will provide a solid basis for coming quarters.
These results come despite marginal losses in certain areas, with the Group’s revenue down 0.4% at €252.2m (£212.6m), and a subdued start of the year with an operating Earnings Before Interest and Taxes (EBIT) of €-11.4m (£-9.61m) compared to the previous year’s €-10.2m (£-8.6m). After net interest expense, earnings before taxes (EBT) came to €-20.6m (£-17.4m)
In order to counteract future losses, Koenig & Bauer has recently implemented a new segment structure, including a number of key appointments, as well as a ‘Spotlight’ focus programme designed to sustainably increase earnings in profitable areas and restructure unprofitable areas.
Dr Andreas Pleßke, chief executive officer of Koenig & Bauer, says: “The underlying conditions remain challenging – geopolitically and economically as well as in terms of industry and trade policy. It is therefore all the more important for us to set the right accents with our strategic development.
“With our Spotlight focus programme, we have taken the right path, and the measures that have been implemented are yielding the planned savings. Koenig & Bauer has always demonstrated agility and adaptability throughout its history. This entrepreneurial DNA is once again confirmed with the implementation of Spotlight.”
