Hoenle AG Faces Reduced Forecast Amidst Curing Demand Slump

Hoenle AG has revised its fiscal year 2025/26 guidance due to weaker-than-expected demand in its Curing segment. The company's forecasted revenue has been adjusted from an initial range of €95-105 million to €92-95 million. This adjustment reflects the ongoing challenges within the printing industry, impacting demand. Despite this, Adhesives and Disinfection continue to grow, with sales in these segments projected to reach €64 million, demonstrating a 6.3% year-on-year increase.

For EBITDA, Hoenle's guidance now indicates a decrease from €6-9 million to €5-6 million. The revision accounts for sales reductions and potential negative influences such as the insolvency of a key client. However, restructuring and product optimization efforts provide some buffer. Despite the challenges in Curing, the company maintains a "BUY" recommendation with a slightly lowered target price of €14, supported by innovation and process improvements.