Ukraine uses air defense-enhancing radars.
(Photo: Reuters)
Munich The defense electronics manufacturer Hensoldt started the year with significant growth in day-to-day business. In the first quarter, sales increased by around 18 percent to 338 million euros compared to the same period last year, as the company, which was recently promoted to the MDax, announced on Tuesday in Taufkirchen.
Operating earnings before interest, taxes, depreciation and amortization adjusted for special effects jumped by more than 80 percent to 30 million euros. Hensoldt thus exceeded the average expectations of analysts. The bottom line, however, was unfavorable exchange rates and interest rate hedging transactions. The net loss grew as a result by more than a fifth to 20 million euros.
For the year as a whole, Hensoldt boss Thomas Müller still expects the first orders from the special pot for the German armed forces. “We are ready to supply the armed forces of Germany and those of our partners comprehensively, reliably and quickly in order to optimally equip them for the new challenges,” said CEO Thomas Müller.
Hensoldt: Sales should increase by seven to ten percent
Orders for radars for the Ukrainian air defense and for equipment for the Puma infantry fighting vehicle and the Leopard 2 main battle tank were already received in the first quarter.
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However, at EUR 347 million, incoming orders were well below the figure for the previous year, which included major orders, including for the “Eurofighter”. However, the order backlog remained stable at just under EUR 5.4 billion.
Hensoldt’s sales should continue to increase by seven to ten percent in 2023, and adjusted operating profit (Ebitda) should also increase moderately. According to management estimates, incoming orders should exceed annual sales by ten to 20 percent.
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