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November 11, 2021

Hensoldt records 19% revenue growth in first nine months of 2021

The company expects full-year currency and portfolio-adjusted revenues of around €1.5bn.

German defence technology company and sensor specialist Hensoldt has reported a 19% revenue increase in the first nine months of 2021 on a year-on-year (YOY) basis.

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During the period, the company’s revenue totalled €850m compared to €712m in the same period last year.

The growth was attributed to a strong order intake of €2.82bn, which includes major orders for the PEGASUS and Quadriga programmes.

Total order backlog rose by 59% to €5.363bn from €3.37bn the previous year period.

Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) was €110m, a 7% YOY increase compared to €103m during the same period last year.

Hensoldt CEO Thomas Müller said: “Our order books clearly reflect that we have set the right strategic priorities within our high-tech portfolio: as technology partner and integrated sensor solutions house Hensoldt is an integral part of many national and international procurement programmes.

“At the same time, we already have a broad pipeline of cutting-edge technologies and product solutions in place, targeting the emerging fields of cyber security and analytics.”

Simultaneously, Hensoldt confirmed its guidance for the current year. The company expects currency and portfolio-adjusted revenues of between €1.5bn and an adjusted EBITDA margin of over 18% for the full year.

Hensoldt CFO Axel Salzmann said: “In the past nine months, numerous follow-up orders from previously won landmark projects have materialised.

“At the same time, we are consistently ensuring that our growth does not come at the expense of efficiency.

“On the contrary, we were even able to improve our profitability. Consequently, we can confirm the 2021 full-year guidance in all KPIs.”

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