HENSOLDT Reports Strong First Quarter in 2024 with Surge in Order Intake

HENSOLDT, a prominent player in the defense industry, has seen significant growth in the first quarter of 2024, with a remarkable 91.8% increase in order intake amounting to EUR 665 million. This performance was largely driven by major contracts in the Sensors segment, highlighted by the German air defense system LVS NNbS and the TRML-4D radar orders.

The total revenue for the quarter was EUR 329 million, slightly below the previous year's EUR 338 million, primarily due to a reduction in low value-added pass-through business. However, HENSOLDT has successfully enhanced its profitability with an improved adjusted EBITDA margin reaching 10.2%, up from 9.0% the previous year.

The order backlog has also reached an all-time high of EUR 5,879 million, representing a 6.3% increase. The company's CFO, Christian Ladurner, attributes this growth to enhanced operational processes and efficient cost management. Furthermore, the integration of ESG Elektroniksystem- und Logistik-GmbH, completed in early April, is expected to contribute positively to both order and revenue growth starting from Q2 2024.

HENSOLDT remains optimistic about its performance throughout 2024, reaffirming its guidance for all key performance indicators. The firm's strong order book and the recent acquisition are likely to play crucial roles in sustaining its growth trajectory, especially with ongoing high demands from the defense sector.