KNDS intends to list in 2026 to support its long-term growth strategy

• KNDS Board decides to continue preparations for initial public offering (“IPO”) in 2026, subject to market conditions
• Dual listing in Frankfurt and Paris
• IPO will strengthen KNDS’s ability to invest in growth, innovation and industrial capacity
• Christian Schulz, former CFO of RENK Group, has been appointed to KNDS’s Board of Directors, bringing deep IPO and defence-industry expertise to support its next growth phase

KNDS, the leading pan-European land defence company, today announces that its Board of Directors has decided to continue preparations for an initial public offering ("IPO") in both Paris and Frankfurt in 2026, subject to market conditions. The IPO will support KNDS’s long-term growth strategy, broadening its access to capital markets and enabling continued investment in industrial capacity, technology and innovation.

Jean-Paul Alary, Chief Executive Officer of KNDS, said: “This project opens a new chapter in KNDS’s development as a unique European champion and global leader in land defence. With this dual listing IPO project, KNDS is determined to create a more agile and responsive structure to continue investing in technology, capacity and talent. KNDS’s model, uniting key nations within a single group, embodies the path toward a collective and efficient future for Europe’s defence, driven by one shared goal: to contribute to greater stability and lasting security across Europe and beyond.”

Tom Enders, Chairman of the Board of Directors of KNDS, said: “I’m happy the Board has decided, after intensive work, to prepare for an IPO. The time is right and the company is ready. And I’m happy that we can onboard Christian Schulz, with all his valuable finance and IPO experience. In the months ahead, we will further strengthen Board and management, increase speed and efficiency, and support Jean-Paul Alary as best we can."

KNDS also announces that Christian Schulz has been appointed to its Board of Directors, as of 1st January 2026. As former CFO of RENK Group AG, he brings valuable experience from leading the RENK IPO and reshaping the company’s financial structure. His expertise in guiding industrial and defence companies through complex transformation, including the listings of RENK and TRATON, will support the company’s continued development in its next phase of growth. Christian Schulz will replace Werner Frank, who is stepping down from the KNDS Board of Directors. The Board extends its sincere gratitude to Werner Frank for his decisive contribution to the development of KNDS over the past years.

KNDS enters its next phase of growth with a solid financial foundation and clear long-term growth prospects. The company has delivered record growth in recent years, confirming the strength of its business model and demand for its platforms and advanced mission solutions. In 2024, KNDS had a record order intake of €11.2 billion, a dynamic that remained strong throughout 2025. With an increase of more than 40% compared with 2023, KNDS ended 2024 with an order backlog of approximately €23.5 billion, up 15% year on year. This multi-year backlog provides strong visibility on future revenues and supports continued investment in new capacities and technologies. Sales rose to €3.8 billion in 2024, compared with €3.3 billion in 2023, with all business units contributing to robust organic growth and profitability above industry standards. To execute this expanding order book, KNDS continues to invest in people and industrial capacity. The company has hired 5,000 new employees since 2023.