In September 2026 the two offset equipment leaders, Heidelberg and Komori, reported their latest quarterly results. Against a general decline in Europe and North America, China was the only growth engine: Heidelberg booked EUR 16 million more new orders from China year on year in a single quarter, while Komori reported a 96 percent jump in Greater China order backlog, very close to a doubling. What does this mean for the used press market, and how should buyers and sellers time their moves?
- Heidelberg reported global orders of EUR 537 million in Q1 of financial 2026/27, with China growth offsetting more than EUR 60 million of missing European orders.
- Komori Greater China net sales jumped 73.8 percent to JPY 3.815 billion, with operating profit swinging back into the black.
- Industry margins have fallen to 4 percent, an eight-year low, yet demand for high-end automated offset presses remains strong.
- Heidelberg completed the acquisition of the MAN Roland sheetfed business and Polar cutting lines, gaining the Roland 900 intellectual property.
- Used printing equipment turnover in the Yangtze River Delta has passed RMB 8 billion, entering an intensive replacement phase.
The China logic behind the results
Heidelberg Q1 of financial 2026/27, covering 1 April to 30 June, saw European orders fall by more than EUR 60 million after Italian investment subsidies expired, with global net sales down 13.3 percent and the net loss after tax widening to EUR 32 million. China stood out: quarterly new orders rose EUR 16 million year on year and became the main support against the European decline. Komori moved faster still, with Greater China net sales up 73.8 percent, order backlog rising from JPY 3.0 billion to JPY 6.0 billion, and operating profit turning from a JPY 119 million loss to a JPY 49 million profit.
Why presses are being bought at the bottom: efficiency buys survival
One apparent contradiction: in the first half of 2026 industry margins fell to 4 percent, an eight-year low, with cumulative profit down RMB 6.34 billion from the same period in 2019. Yet Chinese printers are buying expensive imported presses. The driving force is trading efficiency for survival in a shrinking market: the energy consumption, waste and frequent stops for colour adjustment on older machines have become a drain on profit. New-generation automated presses with automatic plate changing, fast colour presetting and high running speeds cut make-ready waste and labour cost sharply. In a low-margin era, extreme efficiency and waste control are what keep a printer alive against price competition.
Heidelberg acquiring MAN Roland: a reshaping signal
Heidelberg has completed the purchase of the MAN Roland sheetfed business and Polar cutting lines, together with the Roland 900 and Cartonmaster intellectual property. This consolidates its sheetfed line and fills a key gap in large-format carton printing. For the used market, Roland 700 and 900 service will gradually merge into Heidelberg channels, so genuine parts supply and service resources are likely to concentrate further, changing the value logic of used MAN Roland presses: maintenance costs may fall, but available units should gradually thin out, and good used Roland presses may become scarce.
The replacement window for used equipment
New machine buying and the used market now reinforce each other. Used equipment turnover in the Yangtze River Delta has passed RMB 8 billion, and many printers releasing old machines while buying new ones are creating a supply peak. For printers with limited budgets or those just starting out, this is the best window to find a quality used press: well-maintained classic models such as the Heidelberg CD102 from around 2018 with under 50 million impressions are more readily available, while new machine lead times push urgent demand into the used market. Buyers should focus on cumulative impressions, cylinder wear, electrical system condition and genuine service records to capture the timing benefit of this replacement cycle.
Conclusion: The counter-cyclical growth of Heidelberg and Komori in China reflects a deep industry shakeout: the strong upgrade efficiency with high-end equipment, while the weak exit and add to used supply. For used equipment trading, the next 12 to 18 months should be the golden window with the most abundant quality supply and the greatest negotiating room.
