- Total revenues of EUR 1 billion as forecasted achieved
- EBITDA guidance of EUR 65 million exactly achieved, EBIT guidance of EUR 47 million slightly exceeded at EUR 48 million
- Positive operating cash flow of EUR 60 million achieved
- Proposal to increase dividend from EUR 0.40 in the previous year to EUR 0.43 for fiscal year 2018
- Order backlog remains high at EUR 2.4 billion (previous year EUR 2.4 billion)
Bremen, March 20, 2019: The Management Board of OHB SE (ISIN: DE0005936124, Prime Standard) presents its audited 2018 consolidated financial statements at today's annual press conference in Bremen.
In the 2018 financial year, the Group's total revenues reached EUR 1,000 million (previous year: EUR 860 million). EBITDA rose to EUR 65.0 million (previous year: EUR 58.8 million), the EBITDA margin reached 6.5% after 6.8% in the previous year. EBIT increased to 47.8 (previous year: EUR 44.2 million). The EBIT margin changed to 4.8% (previous year: 5.1%).
Consolidated net income rose to EUR 28.4 million (previous year: EUR 27.7 million), bringing earnings per share to EUR 1.44 (diluted and undiluted) for fiscal year 2018, up from EUR 1.34 in the previous year. The operating cash flow amounted to EUR 60.2 million on the balance sheet date (previous year: EUR 35.0 million). The reduction in equity due to changes in accounting standards amounted to EUR 200.0 million as of the balance sheet date (previous year EUR 207.3 million). As the balance sheet total also increased to EUR 753.6 million compared to the previous year's reporting date (EUR 719.7 million), the equity ratio fell to 26.5% (previous year: 28.8%).
In 2018, the business unit "Space Systems" achieved increased total revenues of EUR 809.5 million (previous year: EUR 661.3 million). EBIT in this business unit rose sharply from EUR 24.1 million in the previous year to EUR 32.6 million. The EBIT margin in relation to unconsolidated total revenues thus amounts to 4.0% after 3.6% in the previous year. The unconsolidated total revenues generated by the business unit "Aerospace + Industrial Products" fell from EUR 211.9 million to EUR 197.6 million in fiscal 2018. This resulted in a reduced EBIT of EUR 15.7 million for the business unit (previous year: EUR 20.2 million). The EBIT margin fell to 7.9% (previous year: 9.5%).
The Management Board and Supervisory Board will propose a dividend of EUR 0.43 per share (previous year EUR 0.40) to the Annual General Meeting for the financial year 2018. The Group's cash and cash equivalents (including securities) amounted to EUR 48.7 million as of 31 December 2018 (previous year: EUR 59.0 million).
At EUR 2,399 million (previous year: EUR 2,439 million), the order backlog remains at a very high level. The Space Systems business unit represents the majority of the order backlog of EUR 2,231 million, while the Aerospace + Industrial Products business unit has an order backlog of EUR 168 million. This ensures good planning predictability for the future.
For the full year 2019, the Management Board expects consolidated total revenues of EUR 1.05 billion. EBITDA and EBIT are expected to reach EUR 80 million and EUR 50 million, respectively.
The complete 2018 consolidated financial statements of OHB SE will be published at today's (March 20, 2019) press conference in Bremen and the subsequent analysts' meeting in Frankfurt am Main.
Annual press conference at 08:30 a.m. on March 20, 2019 on the site of OHB SE in Bremen
Analysts' conference (DVFA) at 13:00 on March 20, 2019 on the site of DZ Bank AG in Frankfurt am Main
|Key performance indicators at a glance (EUR 000s)||2015||2016||2017||2018||2017/2018|
|Consolidated net profit||25,385||25,575||27,724||28,393||+2.4%|
|Net income for the period after minority interests||20,975||22,212||23,355||24,998||+7.0%|
|EPS in EUR||1,21||1,28||1,34||1,44||+7.0%|
|Dividend per share* in EUR||0.40||0.40||0.40||0.43*||+7.5%|
|Cash an cash equivalents including securities||62,052||57,584||59,258||48,651||-17,9%|