HENSOLDT has announced a record-breaking financial performance for the 2024 fiscal year, surpassing expectations in key financial metrics. The European defense electronics company reported an order intake of EUR 2,904 million, significantly exceeding the previous year’s EUR 2,087 million, resulting in a robust book-to-bill ratio of 1.3x. Revenue saw a substantial increase of 21.3% to reach EUR 2,240 million, compared to EUR 1,847 million in 2023.
Strong Profitability and Cash Flow GrowthHENSOLDT’s profitability remained strong, with adjusted EBITDA rising to EUR 405 million, up from EUR 329 million the previous year. The company’s adjusted EBITDA margin before pass-through business stood at 19.4%, surpassing its guidance range of 18-19%. Additionally, adjusted free cash flow witnessed a notable 26% increase, reaching EUR 249 million, up from EUR 198 million in 2023.
Oliver Dörre, CEO of HENSOLDT, emphasized the growing demand for advanced defense and security solutions, stating, "The world continues to be characterized by multiple conflict hotspots, and Europe in particular must sustainably enhance its defense capabilities. Our strong order intake in 2024, which exceeded expectations, underscores this trend."
Christian Ladurner, CFO of HENSOLDT, highlighted the company’s achievements: "A record order backlog, increasing revenue, and outstanding profitability define our success in 2024. We have delivered on our promises, met or exceeded our guidance, and remain on a highly profitable growth path."
Record Order Backlog and Notable ContractsHENSOLDT’s total order backlog climbed to an all-time high of EUR 6,644 million, reflecting a 20% increase over the previous year. Notable orders included contracts for TRML-4D radars, short-range air defense systems (LVS NNbS), Spexer radars for the Skyranger air defense system, and logistics services for the German Bundeswehr. The Optronics segment also saw a significant 45.1% increase in order intake, driven by contracts for the Leopard 2 platform, sensor upgrades for Bundeswehr’s Fennek reconnaissance vehicles, and periscope and optronic mast systems for U212 class submarines.
Between October 2024 and January 2025, the company secured over EUR 1.4 billion in new orders, including a EUR 350 million extension for the ECRS Mk1 radar project for the Eurofighter.
Financial Outlook and Dividend Proposal
As a result of its strong financial performance, HENSOLDT’s Management Board will propose a dividend of EUR 0.50 per share, marking a 25% increase from the previous year’s EUR 0.40 per share. Looking ahead, the company forecasts revenue between EUR 2,500 and 2,600 million for the 2025 fiscal year, with a projected book-to-bill ratio of around 1.2x. Profitability is expected to be reported as an adjusted EBITDA margin of approximately 18%, translating to an adjusted EBITDA margin before pass-through business of 19%.
HENSOLDT’s preliminary results for the 2024 financial year are available on its Investor Relations website. The audited consolidated financial statements will be published on March 27, 2025, followed by the first quarter 2025 results on May 7, 2025.
