On March 19, 2026, OHB SE (ISIN: DE0005936124) reported fiscal year 2025 results that exceeded its previous profitability guidance, driven by a surge in European government space spending. The Bremen-based space prime saw total revenues climb 21% to €1,247.6 million, while adjusted EBIT reached €84.0 million, representing a 17% increase over the previous year.
The company’s firm order backlog reached a historic peak of €3.19 billion, with the Space Systems segment accounting for €2.51 billion of that total. This growth follows a strategic investment period supported by KKR, which has enabled OHB to industrialize its satellite production capabilities ahead of several major European constellation tenders.
Major Contract Wins: EPS-Sterna and LISA
A primary driver of the backlog increase was the €248 million contract awarded by the European Space Agency (ESA) on March 18, 2026, for the EUMETSAT Polar System-Sterna (EPS-Sterna) mission. Under the agreement, OHB Sweden will serve as the prime contractor to build 20 small satellites for Arctic weather monitoring. The constellation builds on the success of the Arctic Weather Satellite (AWS) demonstrator launched in 2024.
Additionally, OHB achieved a significant scientific milestone by being selected as the prime contractor for LISA (Laser Interferometer Space Antenna), the largest and most complex gravitational wave mission in ESA’s history.
Strategic Cooperation on SATCOMBw 4
In the defense sector, OHB confirmed ongoing talks with Rheinmetall and Airbus regarding a joint bid for the German Bundeswehr’s SATCOMBw Stage 4 project. This “Sovereign Constellation” initiative, valued between €8 billion and €10 billion, aims to provide Germany with a secure military communications network of approximately 100 satellites by 2029.
- Collaboration Framework: OHB and Airbus would provide satellite manufacturing expertise, while Rheinmetall focuses on platform integration and Bundeswehr system compatibility.
- National Security Impact: The project is designed to reduce German reliance on foreign-controlled commercial constellations like Starlink for tactical communication.
Executive Perspective
“Our results for 2025 demonstrate that our shift toward the industrialization of space is paying off,” said Marco Fuchs, CEO of OHB SE. “With a record budget of €22.3 billion approved by ESA and the German government’s planned €35 billion investment in military space infrastructure, OHB is positioned as a critical partner for European strategic autonomy. We have met our profitability targets ahead of schedule and are now raising our outlook for the coming three years.”
Timeline and Financial Outlook
Management has raised its guidance for fiscal years 2026 and 2027, projecting total revenues to exceed €2.0 billion by 2028.
| Milestone | Target Date | Status |
| EPS-Sterna First Batch Launch | 2029 | Development Started |
| SATCOMBw 4 Tender Award | Late 2026 (Est.) | Joint Bid Strategy Confirmed |
| Ariane 6 Series Production (16-42) | 2026–2030 | Contracted (MT Aerospace) |
| Annual General Meeting | June 24, 2026 | Scheduled |
