OHB SE Positioned for Growth Amid Capital Increase and Defence Upsurge

OHB SE is set for growth, according to NuWays AG's latest research update, with a BUY recommendation and a target price of EUR 340. The independent German space prime's recent capital increase and mid-term outlook highlight upcoming contract opportunities bolstered by robust ESA, EU, and national defense budget applications.

The company aims for significant organic sales growth, projecting total performance of over €4bn by 2030, up from €1.2bn in 2025. This goal is supported by an adjusted EBITDA margin target of approximately 13%, aided by scaling and a richer defense mix, notably the SATCOMBw4 initiative.

OHB's strategic position in German sovereignty programs, such as SPOCK 2 and SBMD, reinforces its competitive edge. Furthermore, a strengthened balance sheet post-capital increase funds industrialization and selective M&A activities.

Rocket Factory Augsburg's developments, including the RFA ONE launch, remain external to OHB's current guidance but present potential value increases.