OHB stock: 9M growth contrasts with lower reported profit
Published on 11/13/2026 at 17:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOperational Growth Meets Profit Pressure
- Adjusted operating earnings improved while reported profit declined.
- A stronger order backlog supports long-term planning visibility.
- OHB maintained its full-year outlook and medium-term targets.
- The balance sheet showed a materially higher equity ratio.
OHB SE reported stronger operating performance but weaker reported profit for the first nine months of 2026, according to its financial results release published on November 12, 2026. Total operating performance rose 10 percent to EUR 946.5 million, while net profit fell 22 percent to EUR 19.1 million.
Adjusted profitability moved in the opposite direction. Adjusted EBITDA increased 23 percent to EUR 99.7 million and adjusted EBIT rose 30 percent to EUR 66.9 million. Earnings before taxes declined 24 percent to EUR 28.1 million, highlighting the gap between operating progress and reported earnings.
Backlog Supports Long-Term Visibility
OHB's order backlog reached EUR 3.937 billion at the end of September, up from EUR 3.117 billion a year earlier. Space Systems accounted for EUR 3.202 billion, while Access to Space contributed EUR 456 million and Digital EUR 279 million.
The company said its nearly EUR 1 billion IRIS2 contract and the EUR 554 million Sentinel-3 Next Generation Topography mission strengthen revenue visibility in coming years. OHB also cited successful small-satellite missions and a strategic 25 percent stake in MediaMobil Communication as steps to broaden its satellite communications offering.
Guidance Remains Unchanged
Management continues to expect total operating performance of EUR 1.4 billion in 2026 and an adjusted EBITDA margin of 10.5 to 11.0 percent. The medium-term ambition remains total operating performance above EUR 4.0 billion and an adjusted EBITDA margin of around 13 percent.
The release also showed an equity ratio of 49.9 percent at September 30, compared with 27.5 percent at the end of 2025. For investors, the combination of a larger backlog, improving adjusted margins and weaker reported profit keeps execution and earnings conversion central to the OHB investment case.
OHB stock traded at EUR 177.60 on Lang & Schwarz at 17:44 CET on Friday, November 13, 2026, 0.34 percent above the Xetra close of EUR 177.00 on Friday, November 13. The quote was 4.00 percent below the EUR 185.00 price recorded at 11:37 CET in the earlier November 13 market update.
OHB SE stock facts
- Company: OHB SE
- ISIN: DE0005936124
- Ticker: OHB.DE
- Trading venue: Lang & Schwarz
- Share price: EUR 177.60 at 17:44 CET on November 13, 2026
- Change: 0.34 percent above the Xetra close of EUR 177.00 on November 13, 2026
- Order backlog: EUR 3.937 billion at September 30, 2026
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