The order backlog also reached a new record of EUR 6,929 million, reflecting a 4.3% increase compared to the end of 2024 and an 18% rise compared to the same period last year. This growth was driven by contract extensions for the Eurofighter Mk1 radars and new orders under the Eurofighter Halcon programme.
Revenue increased to EUR 395 million, up from EUR 329 million in the first quarter of 2024, representing a notable year-on-year increase. This positive development was supported by strong performance in the Optronics segment and additional revenue contributions from the ESG Group’s activities.
Oliver Dörre, CEO of HENSOLDT, commented on the company’s robust performance, stating: “The ongoing war in Ukraine and the conflict hotspots in the Middle East dominate the geopolitical agenda. These developments, as well as increased pressure from the US on its NATO allies to further increase defence spending, are leading to increased investment in military capabilities and technological sovereignty in Europe and Germany.”
Dörre further highlighted the company’s strategic investments: “At HENSOLDT, we have made targeted investments in the digitalisation and connectivity of our products, in securing our supply chains and in our infrastructure and locations in recent years. As a result, we now have the technologies, solutions and operational capabilities to play a significant role in the upcoming German and EU procurement programmes.”
The Optronics segment demonstrated a 34% increase in revenue, driven by the successful performance of the European business. Improved profitability was attributed to higher production volumes and efficiency measures, particularly at the South African site.
In contrast, the Sensors segment saw a slight decline in adjusted EBITDA due to decreased productivity linked to the commissioning of a new logistics centre. However, HENSOLDT expects this effect to be temporary, with the new centre poised to enhance scalability and growth through advanced warehouse automation.
Christian Ladurner, CFO of HENSOLDT, expressed confidence in the company’s financial outlook, saying: “In a dynamic political and economic environment, our operating business developed very robustly in the first three months of 2025. In terms of order intake, we once again exceeded the already very strong prior-year period and set a new record for the order backlog.”
HENSOLDT also completed a major financial restructuring in April 2025, introducing an unsecured and flexible corporate financing structure to replace its previous financing arrangements. This strategic move has improved financial independence and enhanced the company’s long-term stability.
Looking ahead, HENSOLDT has maintained its positive guidance for the full year 2025. The company expects to achieve revenue between EUR 2,500 and 2,600 million, with a book-to-bill ratio of approximately 1.2x. Profitability is projected to reach an adjusted EBITDA margin of around 18%, supported by sustained investment in European and German defence capabilities.
Source: HENSOLDT.
