OHB significantly strengthened its financial position during the first half of 2026 as cash and cash equivalents increased nearly tenfold to €526.9 million and the European space and defense company’s order backlog reached €3.304 billion.
Cash increased from €52.8 million a year earlier. OHB also strengthened its balance sheet through a capital increase, with equity rising to €915.6 million from €431.4 million at the end of 2025. The equity ratio increased to 43.3% from 27.5%.
OHB’s €3.304 billion backlog increased from €3.067 billion a year earlier. Space Systems accounted for €2.566 billion, Access to Space represented €440 million and Digital contributed €298 million.
The company generated first-half total operating performance of €627.9 million, up 11%. Adjusted EBITDA increased 31% to €60.4 million, while adjusted EBIT jumped 46% to €38.9 million.
OHB sees significantly greater scale ahead. The company confirmed its 2026 target for total operating performance of approximately €1.4 billion and an adjusted EBITDA margin of 10.5% to 11%. Its mid-term target calls for more than €4 billion of total operating performance and an adjusted EBITDA margin of approximately 13%.
Defense is becoming a more important component of that growth strategy. OHB and Rheinmetall are working together on secure communications infrastructure intended to strengthen European technological sovereignty and German security capabilities. OHB’s KIRK joint venture with Helsing is also working with Hensoldt and Kongsberg Defence & Aerospace on a space-based tactical surveillance, reconnaissance and target acquisition system.
International expansion is progressing in parallel. OHB Czechspace will become prime contractor for a satellite project for the first time through the SOVA-S mission, while OHB SPACE UK is participating in the EnVision mission. The company is also building a modern cleanroom in Bristol where more than 100 engineers are expected to develop, integrate and test space systems.
