Hensoldt Ag Unsp/Adr (HAGHY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everybody, and welcome to Hensoldt's 9M2025 results call. Thank you all for joining us today. I'm Veronika Endres, Head of Investor Relations at Hensoldt, and with me today is our CFO, Christian Ladone. Christian will guide you through this presentation today, which will be followed by a Q&A. And with that, over to you, Christian. Thank you very much, Veronika, and a very warm welcome to all of our investors and analysts following our company. It's great to have you with us today. I'd like to begin with a quick update of this timeline, which you may remember from our recent analyst calls. Since then, our assumptions have further materialized. Right after the adoption of Germany's 2025 defense budget in September, the parliamentary sessions for procurement approvals gained strong momentum. By the end of 2025, a total of more than a high double-digit number of so-called 25 million approvals will have been passed, many of them with direct hands-on involvement. The first tangible evidence was our recent guidance upgrade for the 2025 book-to-bill ratio, published two weeks ago. While the majority of expected orders are still anticipated to enter our books in 2026, The increased guidance for this year already reflects the early materialization of these strong dynamics. This sets the stage for a strong finish to 2025, with significant orders to be expected in the near term. Let me start with the census segment. In October, we booked a major sustainment contract for the German P8 Poseidon program worth 130 million euros. Alongside the procurement of the German Eurofighter Tranche 5, the contract of our MK1 radar is now in the flowdown and we expect to book the order with approximately 180 million euros shortly. The same applies to further orders for TLM-4D ai...