OHB SE

Rocket Factory Augsburg (RFA) has signed a contract with the European Space Agency (ESA) under the European Launcher Challenge, advancing to the second procurement phase of the program. The agreement, announced on August 27, 2026, follows ESA's selection of RFA as one of five finalists in July 2025. The contract runs through mid-2029 and focuses on developing the RFA ONE Block 2 launch vehicle, expanding ground infrastructure, and preparing for scalable serial production. RFA's CEO, Marco Fuchs, who also leads strategic investor OHB SE, expressed pride in the team's achievement, emphasizing the importance of independent and competitive access to space for Europe's technological sovereignty and security. This milestone positions RFA to contribute to regular, cost-efficient satellite launches from European spaceports.

OHB SE reported total operating performance of EUR628 million in H1 2026, up from EUR470 million in H1 2024, representing double-digit growth. Adjusted EBITDA rose over 30% to EUR60 million with a margin of 9.6%, while the company confirmed its full-year 2026 guidance of about EUR1.4 billion in total operating performance and an adjusted EBITDA margin of 10.5% to 11%. The backlog reached a record high, supported by a pipeline of EUR20 billion in new projects, and net leverage improved to minus 1.1 following a EUR480 million capital increase. The Space Systems segment contributed EUR472 million in total operating performance, and the Access to Space segment grew more than 30% year-on-year, though its margins were softer due to ramp-up costs. The Digital segment backlog increased 70% year-on-year, and the workforce grew 50% to nearly 4,100 employees.

MDA Space reported second-quarter revenue growth of 34% year-over-year, with adjusted EBITDA of $96 million and a 19.3% margin, prompting the company to raise its full-year guidance. The company achieved a book-to-bill ratio of 1.6 times in the quarter, and its pro forma backlog reached $4.4 billion following the Telesat expansion. Strategic acquisitions of Blue Canyon Technologies and CLS are expected to add $5 billion to the pipeline and double recurring revenue. New contracts from Telesat, the Canadian Space Agency, Mitsubishi Electric, BAE Systems, and OHB demonstrate diversified growth across defense, lunar, and commercial programs. Free cash flow turned negative at negative $178 million in the first half of 2026 due to working capital fluctuations and higher capital expenditures, while adjusted earnings per share remained flat at $0.36 as higher net income was offset by an increased share count from equity issuance.

OHB Digital Connect has completed the upgrade of military ground stations for the Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support. The project involved progressively replacing the existing technology of the mobile ground stations with modern satellite communications hardware for the SATCOMBw system. The final batch of four refurbished ground stations was handed over during a closing ceremony at Eifelkaserne in Gerolstein. The contract marked the beginning of more intensive cross-site collaboration following OHB Digital Connect's merger with antenna manufacturer MT Mechatronics, which is now part of the OHB Group.