Against the background of the Ukraine war, the Taufkirchner armaments company Hensoldt expects business to continue to flourish. In particular, the announced upgrade of the Bundeswehr would result in “a whole range of potential orders,” said CEO Thomas Müller at the general meeting of the listed company on Friday. He called Russia’s attack on Ukraine a “watershed for Europe” that led to a “watershed moment in security policy” in Germany. “The aim now is to quickly and comprehensively upgrade the Bundeswehr for the new security policy reality and prepare it for the future,” said Müller. Hensoldt is ready for that.
At the shareholders’ meeting, the board of directors presented an increase in sales of 37 percent
The group, based in Taufkirchen, emerged from the radar division of Airbus in 2017 and calls itself the “German champion of the defense industry”. Hensoldt develops and manufactures sensors and other electronic systems, for example for combat aircraft, naval ships or air defense systems. The company currently has almost 6,500 employees worldwide and generates annual sales of 1.5 billion euros – and the trend is rising in both areas. Even before the Ukraine war, Hensoldt was on a growth course: When the latest quarterly figures were announced, the group reported a 37 percent increase in sales and an order backlog of 5.5 billion euros – more than ever.
This development also benefits the municipality of Taufkirchen. At the most recent municipal council meeting, when the budget was presented, treasurer Jan Gradl reported that the municipality’s tax revenues were “fortunately bubbling up again”. In addition to Hensoldt, Taufkirchen is home to other companies that are active in the armaments industry – such as Airbus Defense and Space AG and IABG. “The current global political situation is good for the companies here, which you also know,” said the treasurer in the direction of the municipal council. “We have already felt the first effects.”
As with other armaments companies, the share price of Hensoldt AG has recently skyrocketed. The federal government is also a beneficiary of this development, which acquired a good 25 percent of the Hensoldt shares and thus a blocking minority at the end of 2020 for security reasons.