Q3 2024 Hensoldt AG Earnings Call Transcript
Key Points
- Hensoldt AG (HAGHY) reported strong financial performance for the first nine months of 2024, with a 21% increase in revenue reaching nearly EUR1.4 billion.
- The company achieved a significant milestone with the successful completion of the first flight of the modified aircraft under the Pegasus program.
- Hensoldt AG (HAGHY) signed a landmark cooperation agreement with German air traffic control, enhancing air traffic safety with innovative technology.
- The order intake dynamics remain positive, with orders summing up to more than EUR1.8 billion in the third quarter, reflecting strong demand.
- The integration of ESG is on track, contributing positively to the group's performance and supporting the company's growth strategy.
- The adjusted free cash flow was negative at minus EUR157 million, although it was in line with seasonal expectations.
- Finance costs increased due to additional loans for the ESG acquisition, impacting the company's financial expenses.
- The electronics segment faced challenges with a negative adjusted EBITA of minus EUR7 million, impacted by lower volumes in the South African entity.
- The tax charge fluctuated significantly, with a high tax charge reported in Q3, affecting adjusted earnings.
- Direct exposure to Ukraine accounts for around 7% of sales, which could be at risk due to potential changes in US funding and geopolitical uncertainties.
Good afternoon, everybody and welcome to Hansol nine M 2024 results call. Thank you all for joining us today. I'm Veronica and please head of Investor Relations at Hanold. And with me is our CFO Christian Ladurner , Christian will guide you for this presentation today, which as always is followed by Q&A session. And with that I hand over to you Christian.
Thank you very much for your call. Good afternoon, everyone. Thanks for joining our earnings call today in which you would like to present our once again, strong results for nine months of 2024.
Let me start by giving you a brief update on strategic topics and key business highlights before I guide you through our strong financial performance of the first three quarters.
And as always following our presentation, I'm happy to answer your questions.
Let's have a brief look at our business highlights. First.
I'm pleased to report that all our divisions have made significant progress
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