The Federal Office for Equipment, Information Technology and Use of the Bundeswehr has informed the project’s subcontractors of the decision. Hensoldt said the specific impact on its scope of supply and contractual settlement is still being assessed.
Pending final clarification of the next contractual steps, Hensoldt is coordinating closely with its contractual partner, Thales Netherlands. The company is supplying the TRS-4D maritime surveillance radar for the F126 programme.
Hensoldt said the TRS-4D is based on an established product family and was not developed exclusively for the F126. Radars from the TRS-4D family are already in service on German Navy vessels, including the F125 frigate and the K130 corvette.
The technology has also been ordered internationally. Hensoldt cited the Brazilian Tamandaré frigates, which are based on the MEKO concept, as an example.
The total contract value for Hensoldt in the F126 programme is just over 200 million euros. More than a third of that amount has already been recognised as revenue.
The company still expects revenue in the low double-digit millions of euros for the current financial year. Based on currently available information, Hensoldt said it does not expect any impact on its short- or medium-term forecast.
How the remaining order book will be handled depends on the specific contractual arrangement. Hensoldt said this will also depend on further consultation with the partners involved.
“We are carefully assessing the implications of the Federal Ministry of Defence’s decision and coordinating the next steps closely with our contractual partner,” says Hensoldt CEO Oliver Dörre. His comments reflected the company’s focus on contractual clarification after the programme decision.
“What is important for Hensoldt is that our technological contribution to the F126 project is high-performing and based on an established product family. As things stand, we do not expect any impact on our short- or medium-term forecast.”
Hensoldt also views the termination of the F126 programme in the context of a reorganisation of maritime procurement programmes. The company said it is ready to continue playing a leading role in the modernisation of the German Navy.
Hensoldt described itself as a supplier of key national sensor technology and a partner for command and mission systems, including CMS330. The company said it remains in close dialogue with shipyards and customers.
