OHB SE Maintains Dividend Payout Amid Record Order Backlog and Strong Growth

OHB SE posts strong 2025 results with 21% revenue growth and a record €3.19B order backlog, but keeps dividend unchanged to fund expansion.

European aerospace and technology group OHB SE has reported robust financial growth for the 2025 fiscal year, coupled with historically high order levels. Despite a double-digit increase in operating profit, the company's board has opted to keep its shareholder payout unchanged, signaling a focus on reinvesting capital to support its expanding operations.

Capital Discipline Over Increased Payouts

The company’s leadership has proposed an unchanged dividend of €0.60 per share. This conservative distribution policy comes even as the group's earnings showed significant improvement. Management has deliberately chosen to retain generated funds within the business rather than increase returns to shareholders, a decision rooted in the need to finance a substantial operational expansion.

Financial Performance Highlights Strong Year

OHB's financial results for the period demonstrate considerable upward momentum. Total group revenue climbed by 21% to approximately €1.25 billion. On the profitability front, the adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 13% to reach €125.6 million. Furthermore, EBIT (earnings before interest and taxes) saw a noticeable advance from €72.0 million to €84.0 million.

Unprecedented Order Book Driven by Public Sector Spending

A key factor behind the dividend decision is the remarkable state of OHB's order book. The company secured record new orders exceeding €2 billion, pushing its total order backlog to €3.19 billion at the balance sheet date. The Space Systems segment constitutes the largest portion of this backlog, accounting for €2.5 billion.

This growth is largely fueled by rising government budgets for space-based security and infrastructure. The German federal government alone has outlined plans to invest €35 billion in military space infrastructure. Additional support comes from the record €22.3 billion budget approved for the European Space Agency (ESA) for the 2026-2028 period following the recent ESA Ministerial Council conference.

Market Reaction and Operational Focus

The market response to the financial release has been measured, with OHB shares recently trading in a range between €248 and €257. For the current 2026 financial year, the company's operational focus will shift to executing its newly won major contracts. A central project is its role as prime contractor for the ESA's LISA science mission, a commitment now financially secured by the company's multi-billion-euro order cushion.