Further rise in order backlog to EUR 1.289 billion
(previous year: EUR 830 million)

Meteosat Third Generation (MTG) weather satellites:
ESA, Thales Alenia Space and OHB continuing negotiations 

Bremen, August 11, 2010. The OHB Group (Prime Standard, ISIN: DE0005936124) recorded a 42% year-on-year increase in total revenues in the first six months of 2010 to EUR 192.6 million. This growth was materially due to the favorable performance of the Space Systems + Security business unit and the acquisition of Carlo Gavazzi Space S.p.A. (CGS), which has been integrated within the Space International business unit. Consolidated net profit after minorities came to EUR 3.6 million for the period, up from EUR 3.2 million in the previous year.

Spurred by the good progress being made on the new projects, the cost of materials and services purchased rose significantly, causing the cost of materials ratio to widen to around 59%, up from just under 49% in the year-ago period. The Group headcount rose by 257 primarily as a result of consolidation effects, resulting in an increase of 20% in staff costs to EUR 51.7 million. Despite this, the OHB Group's EBITDA rose by EUR 1.9 million or 15% to EUR 14.3 million accompanied by an increase of EUR 1.4 million or 17% in EBIT to EUR 9.2 million. Net finance expense widened by EUR 1.4 million over the previous year to EUR 3.5 million chiefly as a result of increased interest expenditure. As a result, the profit from ordinary business activity contracted slightly by EUR 0.1 million to EUR 5.6 million. After income tax expense, which was also slightly lower, the OHB Group earned net consolidated profit for the period of EUR 3.8 million, on a par with the same period in the previous year. At EUR 3.6 million, the net profit for the period attributable to OHB's shareholders after minority interests was up 13% over the same period in the previous year.

Up EUR 47.4 million to EUR 79.0 million, non-consolidated total revenues in the Space Systems + Security business unit made a crucial contribution to the OHB Group's favorable performance in the first half of 2010. The strong growth was materially related to the successful commencement of the Galileo* project. This was accompanied by an increase of EUR 43.9 million in the cost of materials and services purchased to EUR 61.7 million. EBIT rose by EUR 1.2 million or 67% to EUR 3.0 million. The segment's EBIT margin relative to non-consolidated revenues contracted to 3.8%, down from 5.6% in the previous year.

At EUR 29.6 million, non-consolidated total revenues in the Payloads + Science business unit were down EUR 5.6 million on the previous year's high level for invoicing-related reasons. With the cost of materials also down substantially by EUR 5.5 million to EUR 14.9 million, EBIT in this segment climbed by around EUR 1.7 million over the previous year's level (EUR 1.1 million). As a result, the EBIT margin widened from 3.2% in the previous year to 5.9%.

Established on October 1, 2009 following the acquisition of CGS, the new Space International business unit comprises the activities of CGS and LUXSPACE and reported non-consolidated total revenues of EUR 22.4 million in the first half of 2010. With the cost of materials and services purchased coming to EUR 11.7 million, EBIT of EUR 1.6 million was generated, translating into an EBIT margin of 7.1%.

At EUR 65.2 million in the first half of 2010, the non-consolidated total revenues of the Space Transportation + Aerospace Structures business unit were down EUR 4.1 million on the previous year. The cost of materials and services purchased came to EUR 32.3 million and was thus virtually unchanged over the previous year (EUR 33.4 million). Consequently, EBIT fell by EUR 1.9 million to EUR 2.8 million, with the EBIT margin contracting to 4.3%, down from 6.7% in the same period of the previous year.

Non-consolidated total revenues in the Telematics + Satellite Operations business unit in the first half of 2010 at EUR 7.1 million were down slightly by EUR 0.1 million on the year-ago period. As the cost of materials and services purchased also contracted by EUR 0.1 million to EUR 3.4 million, the business unit broke even at the EBIT level following the previous year's loss of EUR 0.2 million.

The OHB Group's firm order backlog increased in value by around EUR 459 million as of the end of the first half of 2010, rising to EUR 1.289 billion, of which OHB-System AG accounted for EUR 700.0 million or 54%.

As of June 30, 2010, the OHB Group's total assets were up 14% or EUR 62.8 million compared with December 31, 2009. This increase was underpinned almost entirely by current assets. On the other side of the balance sheet, the main growth was in current and non-current prepayments received, which rose by EUR 67.8 million to EUR 195.0 million. The equity ratio contracted to 19% as of June 30, 2010 due to the increase in total assets, down from 22% as of December 31, 2009.

The OHB Technology Group expects total revenues to grow to EUR 420 - 440 million in 2010 as a whole accompanied by an increase in EBITDA to EUR 32 - 35 million and in EBIT to EUR 22 - 24 million.

* The OHB project forms part of the Galileo program, which has been initiated and is being funded by the European Union (EU). The European Space Agency (ESA) is acting on behalf and in the name of the EU. "Galileo" is a registered trademark owned by the EU and ESA and registered under OHIM application number 002742237.