KNDS reports strong growth as IPO plans move forward

16:00

The Franco-German defence company KNDS has reported strong financial growth and a significantly expanded order backlog, reinforcing investor confidence ahead of its planned stock market listing later this year.

The group, which operates across France and Germany, posted revenue of €4.4 billion in 2025, compared with the previous year. Its order backlog rose sharply to €33.1 billion, up from €23.5 billion at the end of 2024, reflecting sustained demand for its defence systems, including Leopard 2 tanks and Caesar howitzers.

Company leadership said the results highlight KNDS’s growing role in providing integrated land defence solutions across Europe. The group emphasized its strategy of combining weapons platforms with ammunition and system integration to meet increasing customer demand for complete defence packages.

The company is also advancing preparations for an initial public offering (IPO), with plans for a dual listing in Frankfurt and Paris. The listing is expected to give investors exposure to one of Europe’s leading land defence manufacturers at a time when military budgets across NATO countries continue to rise.

Defence spending in Europe has increased significantly in recent years as governments respond to heightened geopolitical tensions and commitments to strengthen NATO capabilities. This trend has benefited major arms manufacturers such as KNDS, which is experiencing stronger demand for heavy military equipment.

According to the company, its integrated approach—offering both weapon systems and ammunition—has become a key competitive advantage, as governments increasingly prefer single-supplier solutions for efficiency and coordination.

Analysts say the upcoming IPO could mark a significant moment for Europe’s defence sector, providing broader market access to a company positioned at the center of rising regional military investment.