German defence technology company Hensoldt has reported a 10% revenue increase in the first half of 2021 on a year-on-year (YOY) basis.

In the first six months of the year, the company’s revenue totalled €486m. The figure was €440m in the same period a year ago.

The increase was attributed to strong order intake in H1 2021, which includes a landmark contract from Germany for the supply of airborne electronic signals intelligence system Pegasus.

Order intake in the first half of this year totalled €2.1bn, up 19% from €1.77bn recorded in the same period last year.

Adjusted EBITDA was €44m, beating the company’s own expectations.

Concurrently, Hensoldt confirmed its guidance for the year 2021. The company expects currency- and portfolio-adjusted revenues of between €1.4bn and €1.6bn and an adjusted EBITDA margin of around 18% for the full year.

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Hensoldt chief financial officer Axel Salzmann said: “We are very proud that we were able to exceed our own high expectations. We see that the advised project pipeline is reflected in our order books.

“In addition, we are consistently converting our order backlog into revenue without losing sight of our costs. Therefore, we can confirm the guidance for all KPIs for the full year 2021.”

Hensoldt CEO Thomas Müller said: “We are very pleased that we have been able to accelerate our growth momentum once again. The first half of 2021 proves that as a high-tech provider of electronic and optronic sensor solutions, we are an integral part of many procurement programmes.”

Recently, Hensoldt secured a contract to deliver new radars to the German Armed Forces.