OHB SE Seeks to Boost Share Liquidity and Capitalize on Record Backlog

German aerospace firm OHB SE aims to increase share liquidity, backed by a record €3.2B order book and major satellite contracts, while expanding in defense.

The German aerospace group OHB SE is taking active steps to enhance the market liquidity of its shares. This strategic push comes as the company sits on a historically large order book, with management firmly rejecting any notion of delisting from the stock exchange.

Operational Strength Underpins Strategy

The company's strategic initiatives are supported by exceptionally strong operational performance. Propelled by increased European defense budgets and record spending from the European Space Agency (ESA), OHB's order backlog reached a record high of €3.2 billion by the end of the first quarter of 2026. This follows a significant 21% revenue increase to €1.25 billion for the full 2025 fiscal year.

A recent major contract from Sweden has contributed substantially to this momentum. Valued at €248 million, the agreement involves OHB developing and constructing 20 small satellites for the new European constellation "EPS Sterna." This project represents the largest satellite contract ever awarded within Sweden's space sector.

Broadening Investor Appeal

A key element of enhancing share liquidity is an initiative led by investor KKR, which has received a mandate to place additional shares. The primary goal is to increase the free float, thereby making the equity accessible to a wider pool of investors. However, this move does not alter the fundamental balance of power within the company. The founding Fuchs family continues to hold approximately 65% of the voting rights.

CEO Marco Fuchs views transparent access to capital markets as a critical lever for maintaining competitiveness in the expanding space industry.

Defense Sector Opportunities in Focus

Alongside its civil projects, OHB is placing growing emphasis on its military business. The company is currently engaged in discussions regarding a potential cooperation with Rheinmetall for the German Bundeswehr's public procurement project SATCOMBw-Stage-4. Securing a contract for this network, which involves over 100 communication satellites, would solidify OHB's long-term position in the European defense market. Such a win would complement its civil growth with a highly profitable defense component.