As the Orion capsule splashes down in the Pacific Ocean, concluding NASA’s historic Artemis II mission, German aerospace specialist OHB SE finds itself at a pivotal moment. The company’s technology, including tank domes supplied by its MT Aerospace subsidiary for the mission’s SLS rocket, has performed flawlessly in deep space. Yet this operational triumph contrasts with recent investor sentiment back on Earth, where its shares have faced significant pressure.
The market’s focus has been less on lunar exploration and more on terrestrial uncertainties. Despite the successful mission launch in early April, OHB’s stock declined sharply, shedding over seven percent to fall to EUR 277.00. This weakness was primarily attributed to lingering doubts surrounding the German SATCOMBw defense satellite program, which had already pushed the share price down by more than nine percent in the preceding period.
Financially, however, the Bremen-based group is demonstrating powerful momentum. For the full 2025 fiscal year, total performance surged by 21 percent to approximately EUR 1.25 billion. The adjusted operating result climbed in parallel to EUR 84 million. The most telling indicator of future growth is the company’s order backlog, which reached a historic high of EUR 3.19 billion. New order intake also saw robust growth, increasing by 24 percent to around EUR 2.1 billion.
A recent contract win underscores this expansion. OHB Sweden secured a EUR 248 million agreement for the EUMETSAT program to develop and manufacture 20 small satellites. This deal represents the largest single contract ever awarded in Sweden’s space sector.
The company’s role in the Artemis program extends beyond a single mission. MT Aerospace, Germany’s largest supplier for the Ariane 6 program, also solidified its reputation with the flawless Artemis II performance. This serves as a critical reference for future NASA contracts. Airbus has confirmed subsequent modules are already in the pipeline, with the ESM-3 unit scheduled to test rendezvous and docking capabilities in 2027.
Management has laid out ambitious medium-term targets, announced during a Capital Market Day in January 2026. The goals include total performance of EUR 1.4 billion for 2026, rising to EUR 1.7 billion in 2027. The company ultimately aims to break the EUR 2 billion revenue mark from 2028 onwards. While market speculation about a potential delisting had circulated, the executive board has currently ruled out such a move.
Investors will get their next detailed financial snapshot on May 7, 2026, when OHB publishes its results for the first quarter. This report will reveal if the strong growth tempo from the record 2025 year has been maintained. For now, the successful conclusion of Artemis II, which saw astronauts set a new human distance record from Earth at 252,756 miles, stands as a testament to OHB’s engineering prowess—a factor the market has yet to fully price in.
