• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Business

    Posted By Uma Rajagopal

    Posted on November 6, 2024

    Featured image for article about Business

    By Chiara Holzhaeuser

    (Reuters) – Hensoldt reported on Wednesday a 24.1% rise in adjusted core profit for the first nine months of 2024 driven by sales growth in its core business and the first-time inclusion of defence software company ESG, which it acquired in December.

    After just 200 days, we have largely completed the post-merger integration of ESG,” CEO Oliver Dörre said in a statement, adding Hensoldt planned to complete the operational integration of ESG towards the end of the year.

    The German defence electronics specialist posted adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 187 million euros ($204 million), citing sales of its TRML-4D radar system as one of the key drivers.

    The company reported an order intake of 1.86 billion euros for the first nine months of 2024, up 44.9% on the same period last year. That was mainly due to the sensors segment including orders from Germany’s armed forces and additional TRML-4D radars for the European Sky Shield Initiative for Latvia and Slovenia and in support of Ukraine.

    Dörre told Reuters he expects half of Hensoldt’s business to continue to come from Germany, while Europe will contribute 30%, adding that the company was also considering acquisitions to strengthen its position.

    “Technology and internationalisation, these are the drivers for potential acquisitions,” he said in an interview.

    Hensoldt confirmed its full-year guidance and said it continued to benefit from strong demand in Germany, Europe and NATO countries.

    “The growth momentum that we have seen in the first nine months will also be seen in the final quarter,” Hensoldt CFO Christian Ladurner told Reuters.

    Based on the results, Hensoldt narrowed its 2024 book-to-bill ratio forecast to 1.2 times from a previous range of 1.1-1.2 times.

    ($1 = 0.9178 euros)

    (Reporting by Chiara Holzhaeuser, additional reporting by Matthias Inverardi: Editing by Mark Potter and Alexander Smith)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe