BERLIN (dpa-AFX) - Hensoldt AG (HAGHY), a German firm focused on sensor
technologies for protection and surveillance, on Tuesday reported a decline in
revenue for the first-quarter, mainly due to a strong last year's comparative
and a decreased the pass-through business, revenue with a low value-added share.

In addition, the company has confirmed its annual revenue guidance.

For the three-month period, the company recorded adjusted EBITDA of 33 million
euros, higher than 30 million euros, reported for the same period last year.

Excluding items, EBITDA margin improved to 10.2 percent from previous year's 9
percent, with a positive project mix and more efficient cost management.

Order intake almost doubled to 665 million euros from 347 million euros in 2023.

Order backlog stood at 5.879 billion euros, higher than 5.362 billion euros a
year ago, supported by major orders in the Sensors segment, such as the German
air defense system for close- and short-range protection ordered in January and
additional orders for the TRML-4D radar.

Revenue, however, slipped to 329 million euros from last year's 338 million
euros.

Looking ahead, Christian Ladurner, CFO of the Hensoldt Group, said: 'Starting in
the second quarter, we also expect the first positive effects from the
consolidation of the successful ESG acquisition. This will be an important
driver for our revenues and order development. We are therefore optimistic for
the fiscal year 2024 and confirm our outlook for all relevant key performance
indicators.'

For the full year, Hensoldt continues to expect revenue of around 2.3 billion
euros and significantly faster growth in order intake compared with the revenue
growth.

Annual adjusted EBITDA margin before pass-through business is expected to be
between 18 percent and 19 percent.



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