Record Order BacklogA EUR 7.1bn backlog provides multi-year revenue visibility tied to defense procurement cycles. This durable contracted work reduces near-term top-line volatility, supports production planning and aftermarket follow-on sales, and underpins sustained revenue and margin improvement over 2–6 months and beyond.
Strong Free Cash Flow GrowthTTM free cash flow growth of ~73% and healthy cash conversion metrics signal improving cash generation. Durable FCF strengthens the company's ability to fund backlog execution, R&D, logistical investments and service capability without relying solely on external financing over the medium term.
Specialized Defense Sensor PortfolioA diversified sensor and mission-systems product mix targets multiple defense platforms and aftermarket services, creating recurring revenue streams and deep integration into customers' procurement cycles. This specialization builds long-term competitive barriers and stable demand across programs and geographies.