Hensoldt AG Q3 2025 Earnings Recap

Hensoldt's 9M 2025 results demonstrate robust order intake and revenue growth, highlighting strong demand from defense contracts, particularly in the Sensors and Optronics segments.

Key Takeaways

• Order intake surpassed EUR 2 billion, driven by Eurofighter and TRML-4D radar programs, resulting in a record backlog of EUR 7.1 billion.
• Revenue rose to EUR 1.5 billion, with core revenue increasing 14% year-over-year, excluding declining passthrough revenue.
• Adjusted EBITDA improved to EUR 211 million, benefiting from higher volumes and cost synergies from the ESG acquisition.
• The company has raised its book-to-bill guidance, anticipating significant future orders, with substantial contracts in the pipeline including an EUR 850 million reconnaissance vehicle.
• Hensoldt continues to expand production capacity, launching the Operations 2.0 initiative and investing EUR 80 million in a new production site for air defense radars.