OHB stock slips as profit falls despite stronger 9M operations
Published on 11/13/2026 at 11:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth improves while profit lags
- OHB expanded nine-month operating performance and adjusted profitability in 2026.
- Net profit declined despite stronger operating earnings and a larger order backlog.
- Management confirmed its full-year operating performance and margin targets.
- Major European satellite contracts strengthen medium-term revenue visibility.
OHB reported stronger operating performance and adjusted profitability for the first nine months of 2026, while net profit declined. The company released the figures on Thursday, November 12, with the full-year outlook unchanged, according to the OHB SE financial release.
Operating growth outpaces bottom line
Total operating performance rose 10% year on year to EUR 946.5 million in the nine-month period. Revenue increased 11% to EUR 912.6 million. Adjusted EBITDA advanced 23% to EUR 99.7 million, while adjusted EBIT climbed 30% to EUR 66.9 million.
The reported earnings picture was weaker. Earnings before taxes fell 24% to EUR 28.1 million, and net profit declined 22% to EUR 19.1 million from EUR 24.4 million a year earlier. Earnings per share decreased to EUR 0.96 from EUR 1.20. The contrast between adjusted operating gains and lower reported profit remains the central investor issue in the release.
Order backlog supports visibility
OHB's order backlog reached EUR 3.937 billion at the end of the nine-month period, up from EUR 3.117 billion a year earlier. SPACE SYSTEMS accounted for EUR 3.202 billion, ACCESS TO SPACE for EUR 456 million and DIGITAL for EUR 279 million.
The company highlighted its contract to develop and build all 18 satellite platforms for the MEO segment of Europe's IRIS2 secure communications program. The contract volume is just under EUR 1 billion and is the largest single contract in OHB's history, according to the company. An ESA contract for the first Sentinel-3 Next Generation Topography satellite carries a volume of EUR 554 million and includes an option for a second satellite.
OHB also cited the successful ATHENE-1 technology demonstrator launch for the SeRANIS mission and the latest Eaglet-II satellite group for the IRIDE Earth-observation constellation. A 25% stake in MediaMobil Communication expands the company's satellite communications offering.
Guidance stays unchanged
Management confirmed 2026 guidance for total operating performance of EUR 1.4 billion and an adjusted EBITDA margin between 10.5% and 11.0%. OHB also maintained its medium-term ambition of more than EUR 4.0 billion in total operating performance and an adjusted EBITDA margin of around 13%.
OHB stock traded at 185.00 euros on Lang & Schwarz at 11:37 CET on Friday, November 13, 2026, 3.95 percent below the Xetra close of 192.60 euros on Thursday, November 12.
OHB SE at a glance
- Company: OHB SE
- ISIN: DE0005936124
- Ticker: OHB.DE
- Trading venue: Lang & Schwarz
- Share price: EUR 185.00 at 11:37 CET on November 13, 2026
- Daily change: 3.95 percent below the Xetra close of EUR 192.60 on November 12, 2026
- Order backlog: EUR 3.937 billion at September 30, 2026
German equities remain in focus through the DAX market overview.
The next scheduled investor events include the Deutsche Bank Global Space and Defense Tech Summit on November 17 and 18, followed by the Deutsches Eigenkapitalforum from November 23 to 25. More news and analyses on OHB stock.
