(CTN News) – Hensoldt, a German defence electronics manufacturer, is looking forward to receiving orders from the German government in the coming quarter, the company’s chief executive, Thomas Mueller, told Reuters on Thursday in an interview.
As a result of the Russian invasion of the Ukraine, Berlin recently pledged to make a record investment of 100 billion euros ($110.21 billion) to strengthen its military, setting a new record in terms of investment in Germany.
According to Mueller, Hensoldt is expected to double its revenue over the next few years. In addition, he added that this could result in further consolidation of the European Union at the European level.
During the last year, the manufacturer of radars and optical systems for aircraft, ships and tanks reported revenues of 1.7 billion euros, representing a growth of 18.1%.
As a result of the increased demand for the company’s products, Mueller said the company has already expanded its production capacity.
Until recently, there was no such thing as a radar every month, according to Hensoldt’s chief executive officer. In addition to producing 10 radars this year, the company also expects to produce 15 radars from next year onwards.
Since the beginning of the conflict in Ukraine, Hensoldt’s shares have more than doubled in value, reaching their all-time high in mid-March this year, more than doubling in value since the outbreak of the conflict.
Mueller was speaking as Hensoldt celebrated joining the German mid-cap index MDAX for the first time.
The company is the second German defence contractor to have significantly increased its market capitalization over the past year, following Rheinmetall’s entry into the DAX at the beginning of March.