KNDS records another successful business year
Updated: Jun 17, 2021
The defence technology group KNDS, in which Krauss-Maffei Wegmann (Germany) and Nexter (France) merged to form the leading European company for military land systems, ammunition and related services, has presented its key figures for fiscal year 2020. In 2020, the group achieved remarkable results in an unprecedented context due to the Covid crisis, thus demonstrating its robust business model, its resilience and its strong economic and financial position.
With a Euro€3.3 billion order intake, the consolidated order backlog grew to a record Euro€10.6 billion. Major orders were the midlife upgrade for the 322 FENNEK vehicles of the Netherlands Army, 24 LEGUAN bridge layers for the German Bundeswehr, 42 JAGUAR, 271 GRIFFON, and 364 SERVAL vehicles related to the SCORPION program, as well as support and services activities for the French army, and CAESAR guns for a new export customer.
The group generated Euro€2.4 billion in revenue, while its workforce grew to 8,270 employees.
“In 2020, we met or exceeded all our commercial targets,” said Frank Haun, CEO of KNDS, in assessing the company’s performance. “In addition, Nexter and KMW are integrating faster and more strongly to become the joint pacesetter for key innovations in the field of military land systems. Against this backdrop, however, we see new challenges. For example, the budgets of our most important customers are being significantly impacted by the consequences of the Corona pandemic, partly at the expense of the defence budgets. And within defence budgets, significant increases in spending on air systems are emerging, which in turn are putting pressure on much-needed army projects.”