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May 10, 2021

Hensoldt quarterly revenue up 6.2% on strong order intake

Hensoldt has posted a 6.2% increase in quarterly revenue driven by strong order intake in Sensors and the Optronics segments.

The company’s revenue amounted to €208.8m in the first quarter of the year. The figure was €196.6m in the same quarter in the previous year.

The German firm’s total order intake stood at €546.2m in Q1 2021, compared to €184.6m in Q1 2020.

The jump in order intake also increased Hensoldt’s order backlog to €3.77bn.

However, adjusted EBITDA margin marginally declined compared to the previous year due to growth investments.

Hensoldt CFO Axel Salzmann said: “Our business is developing fully to plan, driven above all by steady conversion of our order backlog into revenue and by our ongoing cost discipline.

“To maintain the positive momentum in our business, we are selectively investing in expanding our production and development capabilities. While this investment affects our operating earnings, it is essential in order to maintain our growth path.”

The key order received by Hensoldt in the first three months of the year includes a major contract from the German air force as part of the Quadriga programme.

The company also confirmed its 2021 full-year guidance following good business performance in the first quarter.

Hensoldt CEO Thomas Müller said: “We are very proud to have maintained our growth trajectory from last year in the first quarter of 2021. The Quadriga contract, as well as the surveillance and reconnaissance platform for the Dutch Fennek, are impressive proof of our customers’ strong confidence in our technological capabilities.

“With further orders close to being finalised, we are very optimistic about the current year. We deliver what we promise.”

Headquartered in Taufkirchen near Munich, Germany, Hensoldt focuses on delivering sensor solutions for defence and security applications.

Last month, Italian aerospace firm Leonardo signed a deal to acquire 25.1% of Hensoldt shares from KKR.

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