OHB (OHB) Q1 2026 earnings summary

Executive summary

• Achieved strong, profitable growth in Q1 2026, with revenue up 18.2% to €270.9 million and significant increases in EBITDA and net profit year-over-year.

• Order backlog reached a record €3.35 billion as of March 31, 2026, up 45% year-over-year, driven by major contract wins and expansion in key segments.

• Net profit attributable to shareholders surged 165% to €9.89 million, with EPS up 160% to €0.52.

• Strategic milestones included the successful maiden flight of Ariane 6, founding of the European Moonport Company, and expansion of the IRIDE and Eaglet II constellations.

• Workforce expanded 14% to 3,974 employees, celebrating 25 years since listing.

Financial highlights

• Adjusted EBITDA increased 37% to €27.3 million (9.7% margin); adjusted EBIT up 63% to €16.8 million (6% margin).

• EBIT nearly doubled to €15.2 million, up 98% year-over-year.

• Free cash flow was negative at -€119.3 million due to working capital outflows and project cycle effects.

• Cash and cash equivalents declined to €54.3 million from €220.6 million at year-end 2025.

• Net debt including pension provisions stood at €254.0 million, up from €229.1 million a year earlier.

Outlook and guidance

• Management expects continued positive development of financial position and net assets, supported by a high order backlog and robust business performance.

• Additional upside potential expected from European Commission programs and sovereign funds.

• Earth observation and reconnaissance are seen as key growth areas, with further expansion anticipated.

• Scaled operations and expanded facilities position the group to meet rising demand.

• Upcoming capital markets update on May 18 and annual general meeting on June 8.