EBITDA up 12% to EUR 16.1 million (previous year: EUR 14.3 million)

Net profit for the first half up 29 % to EUR 4.7 million (previous year: EUR 3.6 million)

Continuation of European growth strategy: OHB Sweden AB incorporated

Bremen,August 10, 2011. In the first half of 2011, the OHB Group's (Prime Standard, ISIN: DE0005936124) total revenues rose by EUR 45.8 million or 24 % over the same period in the previous year to EUR 238.4 million. The first quarter of 2011 contributed growth to total revenues of EUR 22.1 million or 23% and the second quarter EUR 23.7 million or 25% over the respective year-ago quarter.

At EUR 134.0 million, the cost of materials increased by 18 % year on year in the first six months of 2011, translating into a cost-of-materials ratio of 56 %, compared with 59 % in the previous year. The Group headcount rose by around 650 resulting in an increase of 37% in staff costs to EUR 71.0 million. EBITDA climbed in the first half of the year by EUR 1.8 million or 12% to EUR 16.1 million. After depreciation and amortization, which had risen by 37% due to consolidation effects, EBIT came to EUR 9.0 million, i.e. marginally down on the previous year. Net finance expense contracted by EUR 0.4 million in the first half of 2011 to EUR 3.1 million thanks to reduced inter- est expense and currency translation gains. As a result, profit from ordinary business activity climbed slightly by EUR 0.3 million to EUR 5.9 million. After income tax expense the OHB Group earned net consolidated profit for the period of EUR 4.6 million, i.e. 20% up on the same period in the previous year. At EUR 4.7 million, the net profit for the period attributable to OHB's shareholders after minority interests was up 29% over the same period in the previous year.

In June, OHB AG acquired the Space Systems division from the Swedish Space Corporation (SSC) via an asset deal and integrated this business within the newly incorporated company OHB Sweden AB. In this way, OHB has gained access to important and valuable resources and skills in the development and construction of satellite and payload systems and is continuing its European growth strategy in the ESA countries. Sweden figures amongst the top ten financial contributors to ESA and holds key positions within European space programs.

In the first six months of 2011, non-consolidated total revenues in the Space Systems business unit climbed by EUR 33.0 million or 25% over the year-ago period to EUR 164.0 million. This growth was chiefly related to the successful commencement of the Galileo* project. The cost of materials and services purchased increased by EUR 19.4 million to EUR 107.7 million due to sustained extensive advance outlays. At 66% in the period under review, down from 67% in the year-ago period, the cost of materials ratio remained high. EBIT improved by EUR 2.3 million or 36 %, rising to EUR 8.6 million. The EBIT margin in this segment relative to non-consolidated total revenues thus widened to 5.3%, up from 4.8% in the previous year. At 9.8%, the EBIT margin relative to the segment's own manufacturing input remained steady at the year-ago level of 10.3 %.

At EUR 89.8 million in the first six months of 2011, non-consolidated total revenues in the Aerospace + Industrial Products business unit were up EUR 17.5 million or 24 % on the year-ago period due to the first-time consolidation of Aerotech Peissenberg. The cost of materials ratio contracted to 45.8%, down from 49.4% in the same period of the previous year. EBIT contracted by EUR 2.4 million to EUR 0.4 million, with the EBIT margin shrinking to 0.5%, down from 3.9% in the same period of the previous year. At 0.5%, the EBIT margin relative to the segment's own manufacturing input fell short of the year-ago level of 4.4%.

As of June 30, 2011, the firm orders held by the OHB Group were valued at EUR 1,206.9 billion and thus only EUR 84.0 million down on the figure for the previous year, which had been inflated substantially by a large-scale contract. Of this, OHB System AG accounted for EUR 505.0 million or around 42 %.

As of June 30, 2011, the OHB Group's total assets were up 8% or EUR 39.0 million compared with December 31, 2010, rising to EUR 505.4 million. This increase is mainly attributable to the first-time consolidation of Aerotech Peissenberg as of March 1, 2011. On the assets side of the balance sheet, mainly total property plant and equipment contributed EUR 18.3 million and short-term assets EUR 20.5 million to this increase. The increase of EUR 31.4 million in inventories and of EUR 32.4 million in trade receivables was accompanied by a decline of EUR 44.2 million in cash and cash equivalents. On the other side of the balance sheet, the increase was chiefly due to current and non-current provisions (EUR 17.5 million), financial liabilities (EUR 16.8 million) and prepayments received (EUR 8.6 million). The equity ratio contracted to 21% as of June 30, 2011 due to the increase in total assets, down from 23 % as of December 31, 2010.

As of August 8, cash and cash equivalents (net of securities) were around EUR 117 million and including securities around EUR 128 million.

The OHB Group expects total revenues to rise to over EUR 600 million for 2011, accompanied by an increase in EBITDA to more than EUR 41 million. EBIT should also climb to over EUR 27 million in 2011. Despite the high order backlog and resultant favourable capacity utilization across the Group as a whole, precise guidance for 2012 does not make sense. Even so, OHB feels confident in assuming further growth in all main financial parameters in that year.

* 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.