FRANKFURT (dpa-AFX Broker) - Hensoldt shares fell sharply on Friday following figures and the outlook. However, the initially high drop of more than nine percent on Tradegate compared to the Xetra close was finally reduced to just 1.8 percent. The defense electronics manufacturer fell short of market expectations with its forecasts for 2024.

Driven by rising defense spending in the wake of increasing armed conflicts worldwide, Hensoldt had risen sharply so far this year, reaching its highest price since April 2023 at just over 36 euros in mid-February. However, they had already corrected part of the price rally afterwards. On Thursday, the shares closed Xetra trading at a price of EUR 33.76.

Hensoldt has been listed on the stock exchange since fall 2020. The shares were sold for EUR 12 per share at the time. The share price remained at this level until Russia's attack on Ukraine two years ago - since then it has risen rapidly. Last April, the share price reached its highest level to date at 37.54 euros.

The company is currently valued at 3.9 billion euros on the stock exchange and is listed on the MDax. The state holds just over 25 percent of the shares. Just under 23 percent of the shares are owned by the Italian defense group Leonardo./ajx/zb

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