OHB (OHB) Q3 2025 earnings summary

Executive summary

• Achieved record order backlog of EUR 3,117 million as of September 30, 2025, up 47% year-over-year, reflecting strong growth momentum and robust demand in the space sector.

• Total revenues for the first nine months of 2025 reached EUR 863.5 million, up 21% year-over-year, with EBITDA at EUR 75.5 million and EBIT at EUR 46.0 million, both showing strong growth.

• Strategic acquisitions, including full ownership of MT Aerospace AG, and the creation of the European Spaceport Company, position the group for future growth in aerospace and defense.

• Successful satellite launches (MTG-S1, NAOS, LuxEOSys) and investments in new facilities in Sweden and Germany underscore operational execution and expansion.

• Leadership transition with the appointment of Dr. Tim Tecklenburg as new CFO in September 2025.

Financial highlights

• Order backlog: EUR 3,117 million (+47% YoY); total revenues: EUR 863.5 million (+21% YoY); EBITDA: EUR 75.5 million (+21% YoY); adjusted EBITDA: EUR 80.9 million (+12% YoY); EBIT: EUR 46.0 million (+32% YoY); EBIT margin: 5.3%.

• Net profit after minorities: EUR 23.7 million (+37% YoY); EPS: EUR 1.24 (+36% YoY).

• Employee count rose to 3,660, up 6% year-over-year.

• Cash flow from operating activities: EUR -127.7 million; cash and cash equivalents at period end: EUR 53.4 million.

Outlook and guidance

• Revenue guidance for 2025: EUR 1.2–1.4 billion, with EBITDA margin around 9–10% and EBIT margin 6%.

• Order intake expected to exceed EUR 2 billion in 2025 and reach around EUR 3 billion in 2026, with growth across all business domains.

• Anticipates positive impact from increased European and German space and defense spending, with EUR 80 billion in confirmed investments and EUR 35 billion in German federal funds for military space infrastructure by 2030.