Hensoldt Shareholders Approve €0.55 Dividend as Record Order Book Tops €9.8 Billion

Defense specialist Hensoldt wins shareholder backing for dividend, reports strong Q1 growth, record €9.8B order backlog, and joins AI satellite consortium; stock jumps 19% weekly.

Hensoldt's virtual annual general meeting on Thursday delivered a clear signal of confidence. Shareholders voted overwhelmingly in favor of a €0.55 per share dividend for the 2025 financial year, drawn from a distributable profit of roughly €173 million. The payout will absorb nearly €63.5 million, with the remaining €109.7 million carried forward. The dividend is scheduled for payment on 27 May 2026.

The proposal, which had received backing from shareholder advisory group Deutsche Schutzvereinigung für Wertpapierbesitz, sailed through without any published opposing motions. Voting was conducted via postal ballot or online service, with physical attendance absent under the virtual format.

Beyond the dividend decision, investors had plenty to digest from Hensoldt’s first-quarter figures. Revenue surged almost 26% to €496 million, while the operating loss per share narrowed from €0.26 a year earlier to €0.16. The real headline, however, was the order backlog — it hit a record €9.8 billion, providing multi-year visibility for the defense electronics specialist. For the full year 2026, Hensoldt is targeting revenue of around €2.75 billion, with an ambitious goal of reaching €6 billion by 2030. Analysts expect earnings per share of €1.78 in the current year, and they already see the dividend rising to €0.69 for 2026.

Adding strategic heft to the growth narrative, Hensoldt confirmed its participation in a consortium vying for the German armed forces’ “Spock 2” contract. The company is teaming up with OHB, Helsing and Norway’s Kongsberg Defence & Aerospace to develop an AI-powered, satellite-based surveillance and target-acquisition system. The German federal government, which has held a 25.1% stake in Hensoldt since 2021, underlined the group’s central role in the country’s defense architecture. Separately, Airbus Defence and Space noted that deploying Hensoldt’s Mk1 radar on next-generation combat systems could deliver cost savings in excess of 40%.

The stock has responded strongly to the flurry of news. Shares closed Thursday at €87.76, having broken decisively above the 200-day moving average of €83.80 — a technical breakout that caught the eye of chart watchers. The weekly gain stands at roughly 19%, though the stock remains nearly 24% below the 52-week high of €115.10 touched in October 2025. The rally also benefited from broader sector momentum: German defense names climbed on Tuesday, with Hensoldt among the best-performing MDax constituents, gaining as much as 4% intraday.

Yet the valuation leaves little room for error. At a forward price-to-earnings ratio of around 40, Hensoldt is pricing in full delivery of those medium-term targets. The average analyst price target of €91.17 implies just 6% upside from current levels. The next major test arrives on 31 July 2026, when the company reports second-quarter earnings.