Nuremberg, Germany-based Diehl Group registered a 23.6% sales increase to €2.7 billion ($3.9 billion) in 2010 and expects to hit €3 billion this year in spite of defence budget cuts.
Group-wide profits grew by around 150% from €57.9 million in the financial year 2009 to €144.9 million in 2010.
The growth is largely due to a number of acquisitions across the company's different divisions. Diehl took over the aircraft lavatory specialist Dasell from Airbus in 2010 and revealed in April 2011 that it will also acquire the Hamburg-based galley manufacturer Mühlenberg.
Diehl's Metal Applications unit took over tool, stamping and plastics specialist Zehdenick Innovative Metall- und Kunststofftechnik, while Velbert-based EVB Energie came under the company's metering equipment division.
The total staff number grew by 11% to around 13,570 employees.
The metal, controls, aerospace and metering divisions will "distinctly overcompensate" the expected decline in defence sales, said Diehl.