Annual Report 2025
Progress with a Clear Direction
we have evolved significantly.
Five years, five annual reports – and looking back today, one thing becomes especially clear:
Over the past years, we have transformed from a broadly diversified company into a clearly focused aerospace supplier – a pure aerospace player. Today, we operate as an international group fully dedicated to aviation, space, and defense – positioning us in one of the most dynamic industries worldwide.
This development is reflected not only in our strategic direction, but also in the performance of the entire group. 2025 was a year of progress. Our revenue increased by XX%, while adj. EBITDA* rose by XX%
This growth is primarily the result of our own efforts: consistent execution, increased efficiency, and close collaboration across teams along the entire value chain.
Financial Highlights 2025
Today, we are closer to our customers, more deeply integrated into their processes, and a reliable partner to leading international companies. At the same time, we are built on a solid financial foundation. Our net debt to EBITDA ratio is below Xx, and by the end of 2026, we expect to achieve a positive net cash position.*
This gives us the flexibility to actively shape our growth – organically through business expansion, as well as through targeted acquisitions when the right opportunities arise.
Our Strategy: Taking Control. Creating Stability
Responsibility Remains Part of Our Success
You Are a Key Part of Our Success
For 2026, our direction is clear:
we are planning for revenues exceeding €X billion and adjusted EBITDA of more than €X million. We also see further potential for 2027, targeting approximately €X billion in revenue and adjusted EBITDA of over €X million.
A key pillar of our strategy remains vertical integration – further expanding our value chain from raw material to ready-to-install components. This gives us greater control over processes, quality, and delivery capability.
Especially in an environment of fragile supply chains, volatile prices, and long lead times, this is a decisive advantage – for us and for our customers. At the same time, we continue to strengthen our operations by improving supply chain stability, ensuring better material availability, and increasing in-house value creation.
We are also well positioned externally. Our “local-for-local” approach, with production sites in the United States, Central and Eastern Europe, and Asia, helps mitigate the impact of tariffs. In addition, our energy hedging strategy* provides planning security and cushions rising energy costs.
Beyond financial performance, 2025 has also demonstrated something else clearly: we have further strengthened our sense of responsibility – towards you, our employees, our partners, and the environment.
For us, ESG is not a standalone initiative, but part of our daily work. It is reflected in clear targets, concrete measures, and transparent reporting. Over the past two years, we have made measurable progress in this area. Even in a challenging geopolitical environment, we remain committed to our path – step by step, realistic and actionable.
A central driver of this positive development is our joint work in the area of “People & Organization.” Our progress is not only based on numbers – but above all on the people who contribute every day with commitment, expertise, and team spirit.
In 2025, we consistently advanced and strengthened our four HR priorities:
Strategic workforce planning to build the capabilities needed for long-term competitiveness
Talent management, with a stronger focus on internal development and nurturing the next generation of experts and leaders
Job architecture and compensation strategy to create greater clarity, fairness, and comparability across roles and locations
Employer branding to further position ourselves as an innovative and purpose-driven employer in the aerospace sector
All these topics form the foundation for our future growth.
Looking ahead to 2026, our main focus will be on ramping up our production sites and fully utilizing existing capacities. Global demand in aerospace continues to grow – and to seize these opportunities, we need one thing above all: skilled, committed, and motivated people who bring precision, passion, and perseverance to their work.
Thank you.
Behind every milestone achieved, every component delivered, and every improvement made stands your contribution. Your expertise, your commitment, and your collaboration with colleagues make our success possible.
On behalf of the entire Executive Board: thank you. Your dedication made 2025 a successful year – and it will continue to shape our future.